A recent buyer asked: Why Should I have a Home Warranty?
A home warranty is an important thing to have to help cope with the inevitable problems that arise as soon as you close. While you may not experience problems, there are many who do as soon as they move in:
The dishwasher stops working
The air conditioner doesn't turn on
One of the burners on the stove goes on the fritz
Having a Home Warranty can help in covering some of the costs for their needed repairs.
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Keep in mind that Home Warranties vary quite a bit in terms of cost and what they cover. One company may offer the basic program that includes the refrigerator while at another company that coverage is $25 extra.
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Also, a Home Warranty does NOT mean you will not have any costs, as you may have to pay for service calls, but not the repair itself.
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Plus there may be some conditions that are not covered - like pre-existing conditions in humans, these problems might not be covered under your warranty. An incorrectly installed appliance is another example.
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You want to work with a reputable company with a good track record on terms of what they cover and how much they have paid out, but being highly rated by consumers. Your agent can likely recommend someone.
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The good news here in Southern California is that it is standard practice for buyers to request sellers to provide a Home Warranty as part of the transaction (this generally costs between $330 and $450 depending on the size of the home and the particular plan). While you likely will NOT get a Home Warranty covered in a short sale, I have typically had one paid for by the seller for REOs. While we can ask for a particular provider, I find that REO lenders may want to pick their own.
If, for some reason, the seller will not pay for it you can purchase one yourself.
You also have the option to continue the Home Warranty coverage after the first year, at your cost, if you wish.
There are lots of providers out there - here are just a few in our area:
Old Republic Home Protection
HSA Home Warranty Protection
First American
American Home Shield
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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