Checking The Pulse Of The Kansas City Real Estate Market
If you’re in the market to purchase a home, you should consider the benefits of a one year home warranty. A home warranty is not the same as homeowner’s insurance. While a homeowner’s insurance policy will cover home buyers if their home catches fire or suffers wind damage, it won’t replace your stove if it goes out. Another way to think of it is this, if your dishwasher broke and ruined your hardwood floor, your homeowners insurance should fix the damage to the home but a home warranty would replace the broken dishwasher.
Getting a home warranty in place gives a home buyer the piece of mind for the first year they live in the home. Some buyers prefer to “self-insure” against such items and that’s fine for many people. But if you are operating on a tight budget, having your furnace go out could be a huge burden and spending thousands of dollars on a problem no one saw coming could have a huge effect on a home buyer. The cost of a typical home warranty is often in the $400 to $500 price range, though there’s many different options to consider that can cause the price to vary.
Buyers can ask a seller to pay for the home warranty at closing and if a seller agrees to do so, the buyer is essentially asking a seller to accept $400 to $500 off the list price (over and above whatever less in price the buyer has offered on the home). The seller pays for the home warranty at closing (out of their proceeds) and the buyer would then have a one year home warranty in effect. Should something go wrong, in most cases, all a seller has to do is pay a trade call fee (of maybe $50 to $100) and they should be on their way to having their problem resolved. If you’re in the market for a home warranty company serving Kansas City, Johnson County, Overland Park and the surrounding area, here’s a few options to consider…
Old Republic Home Warranty Protection
First American Home Buyers Protection
Posted by Jason Brown
