When It's Time to Sell, Include a Home Warranty
If you are in the process of selling your home, you will be given the decision of taking out a home warranty policy as this would increase your chances for a good sale. What is a home warranty? And how does this improve the chances of finding a better result when you sell your home?
OK, What Is It?
A home warranty is an insurance policy that covers all the repairs (or replacements if repairs cannot be made) of any appliances or major systems that are installed in the home. This typically includes such things as air ducts, built-in microwave, garbage disposal, heating systems, and related items. Coverage may also include other items such as the central A/C and spa. The idea is comparable to the typical homeowner insurance but while homeowner policies provide protection against damages to the house and the property in it that are caused by external factors such as fire and wind, or dangers such as burglary, the home warranty covers failure of appliances and systems in the house.
If you have a home warranty you are covered against having to pay the cost of repairs if any of the covered systems or appliances in the house break down. There will be only a nominal service fee for a visit to repair something. These payments are quite small compared to the costs of repair or replacement.
A great advantage with home warranty is that it can be obtained without regard to the condition of the house. In some cases, a home inspection might even be waived as not necessary prior to a policy, though normally an inspection is a requirement. The contract of the warranty will state which items are included in the coverage and which are not.
You will need to decide the length of coverage. You can have a policy for as short as a year, usually renewable and there are longer warranty policies up to lifetime. In general, as with many things, having a longer contract period will have a lower annual fee.
The home warranty comes with various features and you will find a variety of quotes from the available providers. In order to ensure that you get the best deal, check around and look into at least a few sources.
Can a Home Warranty Help You Sell?
Many buyers feel reassured when the seller has taken out a home warranty because their new property would be protected. This would indeed make a more appealing deal, and help make your offering stand out in a crowded market. Because having a home warranty is an attractive advantage for the new homeowner, the advantage accrues to you in getting the home sold.
This content was furnished courtesy of the ultimate Highlands Ranch real estate experts in Colorado, Automated Homefinder.
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