Home Warranty: Is it worth it?

Dated: September 16 2022

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Home Warranty: Is it worth it?

 

When something breaks if you have a house warranty, you phone the provider, and they will hire a contractor to replace it. They frequently demand payment for the service call upfront from the homeowner. After evaluating the condition and deciding if a repair or replacement is required, the contractor will get in touch with the home warranty organization. The house warranty provider pays the contractor for the repair and any replacement costs if they are covered.

 


It's advised to get a home warranty when buying or selling a house. A one-year home warranty could be something the sellers think about providing to the buyer in order to reduce any potential liability concerns. A house warranty could prevent a buyer from suing the seller to recover costs if an appliance or system malfunctions soon after closing. Even if you're offering a home warranty, you must still disclose known concerns when selling real estate.

 


After buying a new house, repair funds may be limited, so a warranty can be quite helpful. If homeowners need to replace key home systems or appliances, having a home warranty included in the purchase might help them stay within their budget and avoid going into debt.

Homeowner's insurance is distinct from a home warranty. Losses brought on by significant risks and unplanned occasions, such as fires, crimes, hail, and various types of water damage, are covered by homeowners' insurance. Home warranties are not an insurance product. They are service agreements between a home warranty provider and a homeowner that solely cover the breakdown of appliances and systems in the home.

Planning to buy, sell, or invest in any property type in Florida? Here at Tampa Bay Investments, we pride ourselves on giving our customers the best experience and we know how to navigate this challenging market. We also offer property management services and assistance to both buyers and sellers. I'm Victoria Ruiz, your local Real Estate Expert, and here for anything you need so let's connect & I look forward to hearing from you.

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Betsy Tinervin

Specialties: Buyer's Agent, Listing Agent, Relocation, Property Management, Investment Specialist, Muti-Family Investment Portfolios Military Relocation Specialist/Certified Betsy Tinervin is train....

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Read More