HOME WARRANTIES OR HOME PROTECTION PLANS

In general terms they usually provide protection against unforeseen repairs for the seller while the property is listed for sale and for the buyer, usually up to a year after the closing date, depending on the company and the particular plan and coverage that is chosen.

The cost of the Home Warranty/Home Protection Plan varies from company to company, and can sometimes be negotiated between the seller and buyer.

A home protection plan offers some benefits to both the seller and the buyer. The specific coverage for both buyers and sellers may vary from company to company as well as any deductible for service calls/repairs. Some policies will provide coverage for all the major systems like central heating, cooling, plumbing, electrical, etc. and even certain appliances. For some policies appliances are an additional cost for coverage.

FOR A SELLER

Many home protection plans offer you some coverage (on covered systems and/or appliances) should something unforeseen happen while your property is “listed” on the market for sale. The coverage varies from company to company as to what would be included, excluded, limitations, liabilities, procedures, and responsibilities.

When the property sale closes, the policy then covers the new buyer, usually for about a year after the closing, should something happen for any covered systems and/or appliances, subject, of course, to the policy’s terms.

A Home Warranty is a great incentive to offer to a prospective buyer. It means a little peace of mind for the buyer, seller and the real estate agent should there be a problem after closing with anything that is covered under the policy.

FOR THE BUYER

It’s comforting to know that should something happen for items that are covered under the home protection policy, usually for up to one year after closing, you will have someone helping get the problem fixed, and many times by only paying a moderate service call fee.

If a home warranty/protection plan is not offered by the seller, you can negotiate with the seller sometimes to include one at the time you make an offer, or pay for one yourself to begin coverage at the time of closing (when the property becomes yours). Some plans are renewable after the one-year period is up.

2-10- HOME BUYERS WARRANTY – call Carol Bolka, 770-918-4902 http://www.2-10.com/

AMERICAN HOME SHIELD WARRANTY - http://www.ahswarranty.com/

OLD REPUBLIC HOME WARRANTY PLAN - http://www.orhp.com/