Benefits of Home Warranty Plans include:
- The reduction of the new home buyer’s risk of purchasing a REO or Short Sale home
- The coverage is effective the day escrow closes and is in place for the period of one year after the closing date
- For Listing Agents, offering these plans may help these homes to sell faster
As a home buyer, you should check to see that the Home Warranty Plan you choose is comprehensive. There are many things that your plan may contain in its coverage. Not all companies offer the same features and they may have different service charges.
Here are some things you might want to check for:
- Undetectable Pre-Existing Conditions for Home Buyer
- Failure due to Rust and Corrosion
- Failure due to Lack of Maintenance
- Failure due to Water Heater Sediment
- HVAC, Plumbing, and Electrical Systems
- Kitchen Appliance Coverage
If you need assistance in locating a Home Warranty company in this area to provide coverage for your new home, please contact your real estate agent and he or she can provide you with a list of companies that you may want to contact.
Source: CENTURY 21 Key Realty