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Home Warranites


A brief overview of a home warranty and the benefit in buying/selling real estate


The real estate market has taken its toll on many home owners. For someone who is trying to sell their home they may want to consider offering a home warranty to the new potential home owner. A typical home warranty costs between $250 and $500 depending on the state you live in and the size of your property. Most warranties come with a standard deductible ($50-100) similar to most insurance policies and offer coverage for approximately one year after the new owner assumes possession of the home. Home warranties typically cover items such as plumbing, appliances, heating and cooling systems. It may be possible to purchase enhanced coverage for items such as septic tanks, roofs, basement leaks, etc. Don't expect the warranty company to cover items that were not working when you purchased the home, these will be considered pre existing conditions. So if you are thinking about selling your home, the benefit of offering a home warranty is that it provides a layer of insulation against you after your home is sold if something breaks down and is a great marketing tool to try and attract potential buyers to your home.

12-19-2007 ? LoanNetwork.com





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