What is a Home Warranty? What does a home warranty Cover? Who pays for a Home Warranty? In this video, Huntington Beach Realtor, Jeb Smith discusses Home Warranties in more detail to help you better understand what they are as well as what they cover.
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Home Warranty Definition?
A home warranty is a contract covering repairs and replacements on systems and appliances in your home, usually for a period of one year.
Who Pays for a Home Warranty?
Traditionally when Buying a Home, the buyer requests that the Seller pay for a home warranty plan for up to 1 year from the date of closing and more often than not in my experience, the seller pays that fee.
If the Seller refuses to pay for a Home Warranty, the buyer can also pay for it either prior to the close of escrow of afterward.
What does a Home Warranty Cover?
A home warranty will cover your home’s crucial systems and appliances, as long as they are in working order when the contract is entered into with the warranty company. Make sure you have reviewed your contract and coverage before you need it.
Can you get a Home Warranty on your Home at anytime?
Yes, you don’t have to be buying or selling a home to get a home warranty. You can call up an order one at anytime. Keep in mind that there are certain restrictions on when you might be able to have them come and repair an item from when you implemented the home warranty.
For example, if your HVAC stops working, you can’t call and order a home warranty today and expect them to come out and fix it tomorrow. In theory, the items that are covered by the Home Warranty are in working condition when the home warranty is ordered.
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If you would like more specific information about Home Warranties in Real Estate or any other Real Estate Tips, please contact me directly at 714.376.2711 or email@example.com.