As a home buyer, it's essential to understand the concept of Home Buyers Warranty (HBW) and what it covers. HBW is an insurance policy that protects buyers from defects or damages in the property within a certain timeframe after purchase.
What Does Home Buyers Warranty Cover?
- Repairs to defects or damage caused by the builder, architect, or contractor
- Fixtures and appliances included in the sale (e.g., plumbing fixtures, kitchen appliances)
- Landscaping and exterior work
- Any issues related to the property's structural integrity
What Does Home Buyers Warranty Typically Cover?
The warranty period for HBW varies by location, but it usually covers the home buyer during the first 30 days after closing. The policy typically includes a list of covered items and a timeframe for repairs.
How to Purchase a Home Buyers Warranty
To purchase an HBW, you'll need to work with your real estate agent or lender. They can help guide you through the process and ensure that you understand all the terms and conditions of the policy.
Tips for Understanding Your Home Buyers Warranty
- Check your contract carefully and review it thoroughly before signing
- Ask questions if you're unsure about any aspect of the warranty
- Keep records of all correspondence with your real estate agent, lender, or builder
As a home buyer, understanding HBW can help you avoid costly surprises and ensure that your new property is in good condition. For more information on Home Buyers Warranty, visit the source URL below: https://realtytimes.com/headlines/item/1047525-home-buyers-warranty-things-to-know