Step 6 for Home Sellers: Consider a Home Warranty

Why would you, as a Seller, want to offer a Home Warranty to the Buyer before they even ask for one?  Many buyers will ask for a warranty on the Purchase Agreement.  You can say no, but for some buyers this will be a deal breaker.  The Home Warranty provides a level of financial protection for the new buyer because they are protected from a major appliance replacement in the first year if they have one.  But in truth there is also some protection to you as a Seller if you purchase a warranty when you list your property.

How does a Warranty Protect the Seller?

The protection your Home Warranty provides actually begins when you commit to the warranty.  It will cover the first full year in the home for your future buyer but it ALSO provides Home Warranty coverage for you, the Seller, during the time you are on the market.

Consider how much you will not want to buy a new furnace 2 weeks before you move out of your house.  If you commit to the warranty when you list, it will provide you with the same protections your buyer will enjoy if something breaks between the time you list and the day you leave.  It may well be that nothing will break during that time, but if it does you will be thrilled that you had this coverage.  Since you will probably be asked by the buyer to fund a warranty anyway, your Realtor will discuss with you the option of doing so from the start.  Average costs for a warranty begin around $480.  There are higher levels of protection and various differences in price depending on the deductible you agree to pay per service call.

Want more info?  Feel free to get in touch:

Maureen Watson: 317-752-3377                     

Posted on December 1, 2018 at 2:10 am
Maureen Watson | Category: Steps for Sellers | Tagged

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