Real Estate Q&A

Q. What is a home warranty and who pays for it?

A. A home warranty is insurance and peace of mind after you purchase your home. If a mechanical component in your home fails within the first year, you simply call your warranty service provided and they will send out a technician.  Depending on the plan you usually pay $75 - $100 deductible per separate occurrence.

A home warranty can be provided by the seller, real estate agent, or purchased by the buyer. Some properties are sold with a home warranty that is paid by the seller. If your purchasing a short sale, most times the Bank will not allow the seller to pay for a home warranty. In these cases your agent can provide the home warranty as an incentive for doing business with them. In all cases the buyer has the choice to purchase their own warranty if no party is willing to provide it. The home warranty must be purchased at closing.

Special notes -
1. Not all home warranty plans are the same. If your purchasing a home that is advertising a home warranty, ask for a brochure or more information about deductible and what is covered.
2. Home warranties usually don't cover cosmetics or bad carpentry.
3. You can upgrade and or extend your warranty by calling the service provider.
4. +Shorewest Realtors recommends a home warranty.

For more information visit http://www.onlinehsa.com/

Disclosure -  Questions regarding legal issues will not be answered. All information provided are only  opinions, and by submitting question you agree to waive any legal rights or liabilities.


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