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Why should a seller consider a home warranty? Today, Robbie Rivardo from 2-10 Home Buyers Warranty is here to discuss just that.
First off, what is a home warranty? A home warranty provides coverage for unexpected breakdowns. Having a home warranty means we will repair or replace systems or items that have broken in the home, saving you thousands of dollars.
How much does a home warranty cost for the seller? During the listing period, the home warranty is complimentary for the seller. You owe nothing. The home warranty then transfers to the buyer for a whole year, and that's when it's paid for. Since the home warranty is only paid for at closing, it's like getting two years of coverage for one price. A seller gets free coverage while the home is listed.
If a seller makes a claim on the warranty during the listing period and for some reason the warranty doesn't transfer to the buyer, will the seller have to pay for the warranty? No, the seller will not have to pay anything. The warranty will simply expire if it is not transferred.
Are there any other advantages to getting a home warranty as a seller? When you advertise that you have a home warranty, your property has an edge over the other homes on the market. Statistics show that homes sell 23 days faster with warranties, and they sell for more money than homes without warranties.
What should a seller consider when looking for a home warranty company? Look at the company's longevity in the market. Our company has been in business for 35 years. Look for a local company so you can build a relationship with them. Local home warranty companies will also be able to put you in touch with great local service providers. Also, having a good relationship with your home warranty provider can make the claim process easier.
If you have any questions for Robbie, you can contact her by phone at 336-324-9389, or email her at rrivardo@2-10.com. As always, if you have any questions for me, give me a call or send me an email. We would be happy to help you!
