Mar 13, 2018
Whats In A Home Warranty?
Home warranties are a staple in real estate contracts in Texas. What are they? Why would you need one? Who pays for it? Can you have one on your existing home? Are frequently asked questions. Home warranties are one year service agreements that cover repair and replacement of most systems and appliances because of normal wear and tear. You can have things covered such as septic system, water heaters, air conditioners, pool pumps and accessories, dishwashers , refrigerators, and electrical.
Home warranties can be purchased at any point in your home ownership. If you read this and decide you want to maintain that kind of your coverage on your home you can surf online or call a real estate professional at Smith and Crisp and get recommendations for companies to check out. If you are in the process of buying a home you can ask for the seller to pay an allotment towards the purchase of a warranty. Each warranty is a year long policy if you decide you want more than a year than simply renew your coverage the following year. If you are a seller you make want to offer to purchase a warranty or pay for part of a warranty for your prospective buyers as incentive to buy your home. Home warranties are negotiable and not a necessity but certainly are a good idea. Even if you only get part of a warranty paid for you still can get the plan you want by paying the difference at the closing table.
These policies have some additional uses and benefits you may not think of. If you have a few rental properties you may purchase a warranty and place it in your tenant’s name so they have a number to call in emergencies. You will still have to pay the service fee for the repair but it will save you from having to answer the phone at 5AM. Some companies offer additional preventive maintenance packages for your air conditioning and heating systems.
Shop around for different policy options. Make sure you find the best one for your home needs. Look at service fees, amounts of coverage, and other fine print. Getting the right policy can save you time and money when things go wrong in your home.