How Important Is Home Warranty While Selling A Home?

The home warranty can exactly be what either the seller or buyer prefers to get a deal done, but in some cases, the absence of one can easily be overlooked. So, in case it is a new home, then it is very important. But in case it is an old home with issues, then you … Continue reading “How Important Is Home Warranty While Selling A Home?”

The home warranty can exactly be what either the seller or buyer prefers to get a deal done, but in some cases, the absence of one can easily be overlooked. So, in case it is a new home, then it is very important. But in case it is an old home with issues, then you may convince the buyer to take chance. According to one survey report, most of the homes sold with home warranties are sold at higher rates and faster while compared to others. Besides, the sale prices of the homes sold with the best home warranty are also increased a lot in the recent time.

So, in case the market is hot, then the buyers are often ready to accept homes without warranty as they don’t prefer to lose homes to other interested buyers.

The homes that are just built often come with warranties from contractors or housing developers, who plan to cover all the major mechanical systems of the homes like electrical, plumbing, AC and heating for the period of one to five years. Therefore, it is the job of the homeowners either to pay to continue the home warranty or to carry their own warranties through the best home protection plans. But some of the home warranties also come with major appliance protection plans. So, in case anything covered in the warranty malfunctions within the specific coverage period, then the buyers only have to pay the cost of deductibles that are very small amounts.

In case of old homes, the home warranty is considered as the missing piece, which can make these homes really attractive to the buyers. But not all the sellers are ready to offer this warranty while selling old homes, especially when the market is hot. In case of older homes, the seller’s warranty is probably the only thing that the sellers and buyers look for. The seller’s warranty can be bought from banks or insurance providers by the seller for just a few hundred dollars. This warranty covers specified appliances and mechanical systems in the homes for almost a year. Even in this case, the buyer needs to pay certain amount as deductible. This type of warranty actually helps the buyers to get enticed to take chance on the older homes, which come with older appliances. For the sellers, it works as an insurance in case anything happens after the home is sold.