RE/MAX Real Estate Guide and FAQ - Questions and Answers for Real Estate Home Owners
RE/MAX Valley Real Estate, Boardman, Ohio

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RE/MAX Valley Real Estate

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2-10 Home Buyers Warranty

 

RE/MAX
Valley  Real Estate
1006 Boardman - Canfield Rd.
Boardman, Ohio
(330) 629-9200

RE/MAX Real Estate FAQ - Buying Your Home, Working With A Real Estate Agent

Home Ownership - Questions and Answers
'The Home Warranty'

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What is a home warranty protection plan?
It is usually a one-year limited home service agreement that covers mechanical breakdown due to normal wear and tear for the major systems and appliances in your home.

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What's covered under these plans?
Depending on the level of coverage you purchase, the plans may cover repair or replacement of heating systems, plumbing and wiring systems, and major appliances such as a washer, dryer, stove, refrigerator and dishwasher.

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Doesn't my homeowners insurance policy cover my heating and other systems?
A typical homeowners policy does not insure against the breakdown of systems and appliances.

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What happens if my covered refrigerator breaks down and is beyond repair?
If your plan includes your refrigerator as a covered item, the plan will replace your refrigerator with a new one of like kind and quality.

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The home I'm buying is 60 years old. Can I still purchase a home protection plan?
Most plans cover a home's major systems regardless of age.

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I have manufacturer's warranties for my appliances. Why would I buy a home warranty protection plan?
Manufacturer's warranties have expiration dates and they don't repair appliances after that date. A home warranty protection plan would repair or replace a covered appliance no matter how long you've owned it.

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How do I find out more about my home protection plan?
Your REALTOR® or agent can answer most of your questions. Contact us with questions about a home warranty service  aggreement.
See also:

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What do I do if a covered system or appliance needs repair?
Call the service provider number listed on your plan. A repair specialist will be scheduled to visit your home. Under most plans, you'll pay a small deductible when the repair specialist visits.

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Who pays for the Home Warranty?
Payment for the home warranty can be negotiated between the buyer and seller when an offer to purchase is made. As a buyer you may purchase one for yourself or the seller may provide one for you.

If you are a buyer ask your REALTOR®  to include a home warranty in your offer to purchase. Sellers who are serious about getting their home sold,  will seldom refuse to pay for it.

If you are a seller there is evidence that your home will sell faster and for more money if you offer a warranty; and more often than not, you will be asked to provide a home warranty as part of the sales agreement anyway. Since most home warranty plans will cover the seller during the marketing period,  it only makes sense to take advantage of the coverage from the get-go.

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