Home warranties are a great way of adding a little more security to the Dallas home buying experience. When unexpected problems occur with major systems or appliances, a home warranty can save you thousands in repairs and replacements. Be sure to ask for a "seller provided" warranty when purchasing a new home, and save yourself some headaches down the road.
The average home warranty covers most major systems and appliances that come with a home. These include the water heater, heating system, dishwasher, garbage disposal, electrical system, plumbing system, a range oven, cook tops, and even things like built in microwaves or door bell wiring. In other words, basic home warranties cover the built-in systems and appliances if they were to break from normal use. You might have noticed that it does not cover the roof, doors and walls, or any items not built into the structure. Don't be fooled by thinking these things will be covered in a basic home warranty if you do not see them in writing. You can of course add these things to an optional, or additional, warranty but these warranties are not always paid for by the seller. Optional warranties might also include the washer and dryer, well pumps, air conditioning, swimming pools and hot tubs, as well as a variety of other valuable home amenities.
Like most warranties, they do not usually cover preexisting conditions. This is why it is important to have the real estate property professionally inspected. An inspection will help you to determine what preexisting problems the home might have so that you can address them in negotiations with the seller. Perhaps it is necessary that the seller make some repairs prior to your move-in date. Do not assume that you will be able to fall back on a home warranty after purchasing the home.
Warranties are offered by many Dallas real estate companies or agents, and are often provided by the seller of the property. As part of the transaction, the seller might pay for a basic home warranty. This is attractive to buyers and provides much after sale liability coverage for the seller as well as providing buyers with the protection they need from unforeseen problems. The cost of a one-year home warranty ranges from $250 to $500 with a deductible payment of $25 to $50. Optional warranties are added on at an additional cost individually. This is a very low cost in comparison to the sale of the home, and can even be paid through escrow at closing by the seller.
Warranties can make everyone sleep a little better at night. Sellers can worry less about "after sale" liability, and buyers can feel secure that they are protected from certain potential system or appliance disasters. If you are a homebuyer, consider asking the seller about a basic warranty program, it could save you a bundle.
About the Author: A true innovator, Von Sutten founded Ready Real Estate in order to put more money back into the pocket of the Dallas real estate buyer. Ready Real Estate has since grown to become a top Dallas real estate company.
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