Buyer Tip: Get Home Warranty Funded by Seller - Realty Times- Topic: Home Owner Warranty

I was listening to a home warranty salesperson presentation about her product the other day and was surprised to find out that in today’s market, when sellers are more than willing to pay for nearly all the closing costs, only about 20 percent of contracts actually have a home warranty in place. Then — against all the common sense that I can understand — you don’t ask them to lay down $300 - $500 to put up a home warranty that’s going to protect all your appliances, heating/air conditioning, plumbing, electrical, garage door opener, door bell, sump pump, well pump, swimming pool or spa, or washer/dryer. Even with a good home inspection verifying that everything in the house is working, the warranty limits your liability in the future in case something breaks down. For instance, if you buy the house and have a home inspector tell you that there’s a crack in the heat exchange and should be fixed — the home warranty’s most likely not going to fix it when you move in just because you bought the policy. While electrical items will be covered, the warranty may not cover accessory items such as a house exhaust fan, attic fan, smoke alarms and intercom or speaker systems. read more

Technorati Tags: warranty, home, , house, cover, covered, home owner warranty