If you haven't purchased a home in a while, you may not be familiar with just how great an impact the home warranty has had on the real estate marketplace.
Although insurers have been offering such coverage for over 25 years, it is only in the last several years that it has virtually become a standard feature of real estate transactions here in the valley.
In specific, the home warranty is an insurance policy (offered at a relatively nominal cost) that protects the buyer from any problems that might occur after the closing of the sale.
The warranty generally covers all systems (electrical, heating, cooling, plumbing, etc.) in the home for a period of one year from the closing date. And, should anything go wrong with a covered item or be in need of repair during that period, the buyer can simply call the warranty company and they will send a contractor to repair or replace the item at no cost
(note: in some cases, there may be a nominal service charge involved).
The use of this tool has effectively eliminated uncertainty from a buyers mind and transformed a traditionally contentious part of the real estate negotiation into just another minor part of the purchase process. It's a WIN-WIN for all concerned.
There are a variety of programs that can be tailored to your needs including those that provide extended coverage for pools, spas and appliances, to name just a few of the most frequently requested options.