Things You Need To Know About Home Warranties When Selling A House | Planning Tank

The concept of home warranties can seem like a luxury, but it's actually an essential tool for sellers in today's market. Here are some key things you need to know about home warranties when selling your house.

What is a home warranty? A home warranty is a protection plan that covers major home system repairs and replacements, typically lasting 1-3 years. It's usually sold by the seller or builder as part of the purchase agreement.

Why do sellers need home warranties? Home warranties can help protect your buyer from potential costly repairs and replacements in case their appliances, plumbing, electrical work, or HVAC systems fail. This is especially important for high-end homes or those built with luxury features.

What are the benefits of a home warranty for buyers? A home warranty can give buyers peace of mind when they're making an offer on your property and may help prevent potential disputes over repairs. Additionally, it can provide a financial incentive to complete repairs before closing, which can save your buyer money in the long run.

How do I get a home warranty for my house? The seller or builder will typically handle the purchase of the warranty from an approved provider and may also offer discounts on the plan. It's essential to review the terms and conditions carefully before signing.

What types of repairs are covered under a home warranty? Common items that may be covered include: appliances, plumbing fixtures, electrical work, HVAC systems, roofing, and pest control services.

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