What is a Home Warranty and Why is it so Valuable?
A Home Warranty is a service agreement that offers valuable protection on the properties' mechanical systems and appliances, such as; the heating system, water heater, plumbing, electrical, garage door opener, garbage disposal, central air conditioning or evaporative cooler, door bell, and more. It doesn't matter whether the home, condominium, town house, manufactured home, or mobile home is one year or a hundred years old, as long as the covered items are in good working order at the start of the home warranty service contract.
Home or Appliance Warranties or Extended Warranty Polices - Do not cover any pre-existing conditions such as plumbing, heating, air conditioning, ventilation or electrical code violations. They do not cover items that are in need of repair prior to the issuance of the home warranty service agreement, and they do not cover structural conditions.
Home Warranties are an added benefit and a cost-effective way to protect your homes' mechanical systems, appliances and most of all, your pocket book! Home warranties have been used by; Homeowners, Property Sellers, Home Buyers, Real Estate Investors, Realtors, and Real Estate Services such as Relocation, Title, Inspection, Appraisal, and Mortgage Lending Companies for years.
With cost going up and up on repair bills, plus the large expense involved when replacement becomes nesccesary. A home warranty service agreement is a good idea to have on your property regardless of their systems and appliances age.
From the seller's position, a home warranty offers protection during the listing period as well as peace-of-mind for potential buyers. Studies have shown that homes that include a home warranty sell faster and at a potentially higher price than those that don't. A home warranty will increase your property's appraisal value by $1000 to $3000 dollars.
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