| Seller's Warranty | | | | continues for a one-year period after that. Another |
| Now that the real estate market is cooling somewhat, | | | | difference: the buyer's warranty can be renewed |
| you'll more likely to find your competitive home sellers | | | | annually. |
| offering a seller's warranty. But what exactly is a | | | | Besides Home Warranty of America, there are a |
| seller's warranty, and how can it help? | | | | number of other companies that offer home |
| In short, a seller's warranty provides added assurance | | | | warranties for sellers and buyers. Those companies |
| that any repairs to major appliances, plumbing, and | | | | include: 2-10 Warranty, American Millennium (which |
| other home systems will be covered by the seller | | | | offers a policy to specifically cover hidden structural or |
| within a specified time period after the home is | | | | pest damage to a home), and Home Warranty Plans, |
| purchased, excluding a typical deductible of $50-60. | | | | but you'll probably find others if you do an Internet |
| Seller's warranties are always offered by builders of | | | | search or check with your local real estate broker. |
| new homes, but they're becoming increasingly popular | | | | As is the case with any consumer product or service, |
| as sales tools for older homes, as well. For the seller, | | | | it's always wise to do some research before you |
| the cost is about $300-400, but it can be well | | | | decide whether a seller's or buyer's warranty is |
| worthwhile, especially if it means a quicker sale of their | | | | something you want to consider. Then, if you've |
| home. | | | | decided that such a warranty is worthwhile in your |
| There are some real estate companies that offer | | | | particular situation, make sure to compare the various |
| seller's warranties at no cost to their sellers during the | | | | programs to see which ones are available in your |
| home's listing period, such as Home Warranty of | | | | area, what they specifically cover, their overall cost, |
| America, but the most agencies require their sellers to | | | | the amount of their deductible, anything that might be |
| pay for the warranty if it's something they'd like to | | | | excluded from the program, and any other variables |
| offer potential buyers--with the cost often built into the | | | | before you commit. Remember, you can offer the |
| sales price. | | | | warranty, but if you consider an offer less than full |
| Home Buyer's Warranty | | | | price, you can ask the buyers to provide their own |
| A similar home warranty can be purchased by buyers, | | | | warranty. |
| as well. The typical $300-400 cost is similar to what a | | | | Providing this service adds to your home's overall |
| seller would pay for similar coverage, and a buyer's | | | | appeal to home shoppers. A home warranty gives |
| warranty covers the same things as a seller's | | | | your home buyers the peace of mind they seek. |
| warranty. The main difference is that a buyer's | | | | Copyright © 2006 Jeanette J. |
| warranty typically begins on the date of closing and | | | | |