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Home warranty is beneficial
for both buyers and sellers
A home warranty offers peace of mind to both buyers and sellers.
I always encourage my sellers to purchase a simple home warranty on their
townhouse or condo that will transfer to the buyers. A 1 year home warranty typically costs
between $200-$450 and covers the cost of repairing or replacing appliances, hot water heater, plumbing, etc. in a home.
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Townhouses and Condos offered with a home warranty typically sell faster and for a better price than
those without. Buyers recognize the value of a home warranty and feel more comfortable when a home is covered by a warranty. They will give preference to covered
townhouses/condos when they make their choice.
Typically the warranty covers the townhouse for the time it is on the market and transfers to the buyer for a year after it is purchased. In a
townhouse/condo covered by a home warranty, if a covered appliance or system breaks down, the insurance will pay for the repair or replacement as specified by the policy. The homeowner only has to pay a small deductible for each service call.
Of course, buyers can also purchase a one-year warranty for a home that is not covered by the seller. For buyers, a home warranty offers protection from the worry of unexpected expenses at a time when they might not have much available cash (right after a home purchase). In addition to the mortgage and closing costs, new homeowners often want to buy paint, carpeting, furniture,
etc. The last thing they need is a worry about paying for appliance repair or replacement.
A townhouse/condo that’s offered with a home warranty comes with peace of mind for both sellers and buyers.
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Equal Housing Opportunity |
Smitha Ramchandani
- The Townhouse Expert Sales Associate | Weichert Realtors
73 Washington St | Morristown, NJ 07960 Mobile)
973-953-7777 | Office) 973 455-1900 Ext. 122
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Site Last
Updated:
May 31, 2007 |
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