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Today I'd like to speak about the importance of home warranties. Not a lot of people know, but they can be valuable to both buyers and sellers. I'll be explaining why this is true today.
The warranty that we recommend to our buyers is the HMS
Home Warranty that is offered by Berkshire Hathaway. If I'm listing a
home, I also like to recommend that my sellers also purchase a warranty for the
home buyers. This is a nice gesture, and it's a major benefit for a
buyer to purchase your home. It gives a buyer peace of mind, and that's
extremely valuable in this industry.
One thing that sellers can do is purchase a
home warranty up front and they will then be covered during the listing period. The
sellers will only have to pay for the warranty once the home is closed. This
essentially means that the sellers get a free home warranty.
This warranty covers all mechanical components including plumbing, electricity, hot water heaters, etc. Warranties don't cover pre-existing conditions, so you can't buy one and then have your roof replaced with it.
These policies aren't too expensive (they start
around $500) and we don't make any money by selling them. We
just think it's a great idea for our buyers and sellers.
As always, please don't hesitate to contact me if you need help buying or selling homes in Lexington!
