Buyer Resources
Buyer resources - Home Warranty
A home warranty plan is a residential service contract that helps protect the homeowner in the event of a mechanical breakdown of a covered component.
79% of buyers want a warranted home
74% of sellers consider a warranty “very important”
Why is a home warranty plan important to the seller?
- The seller is protected while their home is on the market.
- People prefer to buy homes that are protected by a warranty.
- There are no caps or age limitations on any of the items covered in the policy.
- Vacant homes can be covered provided that all utilities remain on and the home stays in show condition.
- The chances of having to reimburse the buyer are reduced and consequently, sale proceeds are protected.
- Reduced litigation.
What items are covered?
Standard items for the seller include kitchen, laundry and other appliances, plumbing systems and pipes, water heaters, water softeners, electrical systems, garage door openers, central vacuum systems, ceiling fans and door bell chimes. Optional items for the seller include central air/cooling systems and central heating systems.
Why is a home warranty plan important to the buyer?
- The buyer is covered for one full year from the time of settlement, providing that payment is received within seven days of settlement.
- The buyer has peace of mind in knowing they are protected.
- The warranty may be renewed for years to come.
- Unplanned expenditures may be avoided.
- There are no caps or age limitations on any of the items covered in the policy.
- Qualified contractors are available 24 hours a day through a claim service hotline.
What items are covered?
Standard items for the buyer include, with certain conditions, kitchen, laundry and other appliances, primary central air/cooling systems, primary central heating systems, plumbing systems and pipes, water heaters, water softeners, electrical systems, garage door openers, central vacuum systems, ceiling fans and door bell chimes.
Optional items for the buyer include well pump systems, swimming pools, heaters for swimming pools/spas, spas and jetted bathtubs.
