Updated: Sep 12, 2020
Home warranties can provide peace of mind, especially for Buyers who don’t have large cash reserves to make unexpected repairs in the event of a breakdown. I recommend home warranties especially for first-time buyers who don’t have experience maintaining or repairing a property. Whether you purchase a home warranty really comes down to your own risk tolerance and cash reserves in the event something goes wrong.
Most home warranty coverage lasts for a period of one year after the date of purchase, however some companies offer extended coverage for an additional fee.
Who Pays for the Home Warranty?
This will depend on your Sale Agreement and negotiations between you and the Seller. The cost of a home warranty will depend on the company that provides coverage and the level of coverage selected. Home warranties are pre-paid at closing. I will provide you with a brochure detailing your options.
You will need to make a decision on whether to purchase a home warranty or not prior to closing. I will provide you with detailed information regarding your choices so that you can make an informed decision.