Both home-buyers and sellers should be aware of home warranties. These warranties provide coverage in case any issues come up in the process. It helps to deal with any subsequent costs. The role of a real estate agent is to work with a seller to offer a home warranty, and to help resolve any issues that come with the final outcome of a warranty claim. We provide professional advice to our clients, and ensure that they completely understand the essentials of home warranties. Below are all of the key details that you need to know about this type of warranty.
Who Pays for The Home Warranty?
If you are selling a house and wondering what to do with regards to the home warranty, then it is important to consult with your real estate agent . Usually the seller will pay for the home warranty, however, this can depend on certain circumstances. It is considered a benefit for the seller, and therefore they are expected to pay the fee. Usually, you can expect to pay around $350 – $600, which isn’t that expensive in relative terms. A warranty protects the seller during the listing period, and it gives them specific coverage over items in their home. Usually, this will cover ‘major items.’ These items usually include air conditioning, kitchen appliances, washers/dryers, doorbells, furnace/heating, garbage disposals, plumbing stoppages, electrical systems, and ovens. Policies can differ depending on the area, which makes it important to always check the agreement and discuss it with your real estate agent.
How Do They Work?
A home warranty policy allows the home-owner to make a claim if any of these major items require repair. If it is required, then they call the company who will send out a provider to conduct the repairs. If repair is not possible, then a new item will be installed. There is usually a small trade service fee to be paid by the home-owner, and the specific amount will be included in the warranty policy.
Advantages of a Home Warranty
There are many advantages to taking out a home warranty policy. It provides protection for the seller and means that any new issues with the home can be resolved quickly. It gives the seller and buyer the reassurance that the deal will not break down because of a sudden emergency in the home. Instead of having to pay out large amounts for these repairs, a warranty is a far cheaper alternative. A home warranty also makes a home more competitive in the market, and more attractive to sellers. This can lead to a faster sale for a higher price. The best real estate agents will be able to use the warranty in their marketing strategy.
You will now have a much clearer idea on how home warranty plans work. In the selling process, it is vital to have an experienced real estate agent that knows the average home price in Scottsdale in order to market your home correctly. A home warranty can help with this marketing process, and we work closely with home-sellers to ensure that their requirements are met. Synergy Real Estate Partners are transparent throughout the process, and our personal approach makes us stand out. Contact us on 480.581.1011.