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When working with your real estate
agent, ask about the home warranty protection programs.
If you want to
buy a
house but have concerns about unexpected repair
cost after the closing, have your real estate agent add a
homeowners service policy into the contract. There is a
special provision built into the Texas residential real
estate contract that provides for a sum of money to be
applied to the purchase of a home warranty contract that
will pay for the cost of covered repairs after the buyer
owns the house. These contracts typically cover the house
for one year, are renewable, and are designed to encompass a
select gamut of repairs for a predetermined deductible paid
by the owner. There are several home warranty companies that
offer varying degrees of coverage but most core packages
will include repair of the heating and air systems,
ductwork, electrical, ranges, ovens, cook tops, Water
heaters, plumbing issues and a few more items. To add items
to the core coverage, additional service packages are
availably for an additional fee.
To understand exactly what is covered,
how much the yearly premium will be, and what the deductible
is, a little home work would be advisable. Contact the Home
Warranty representatives, they will be happy to go over
their packages and extended coverage plans with you.
If you are
selling your house and want a little added
protection just incase a repair problem pops up before the
house closes, a buyer seller policy is now available. This
home warranty plan is purchased by the seller, covers
unexpected repair while the house is for sale and transfers
to the new owner after closing. A real estate agent that
represents a buyer has an obligation to protect their
clients and home warranty coverage is one way to insure part
of that protection, so most offers will ask the seller to
buy a home warranty service policy. Knowing this, for a few
more dollars the person selling the house can utilize that
insurance getting the repair benefit before the house is
sold.
If you’re ready to
buy a
house or are thinking about selling your existing
home,
contact your real estate agent for a list of Home
Warranty Companies to compare rates and coverage.
BUY A HOUSE |
SELL A HOUSE | REAL ESTATE AGENT | HOME WARRANTY
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