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Hello again and welcome back to my video blog. I wanted to introduce to you one of my trusted affiliates, Francine Hyan, who works with First American Home Buyer's Protection. She has been practicing in the business for more than twenty years, so listen up!
For sellers, it's very important to provide a warranty on a home because otherwise a buyer will be coming after you for the various problems that will arise after closing escrow. A home warranty will cover all the major systems and appliances that begin to malfunction because of normal usage.
For example...let's say you have had a home inspection and the seller successfully resolves all the issues encountered, but two days after you close escrow the hot water heater begins to leak. In this circumstance, (assuming you have a home warranty) all you have to do is call your warranty provider who will have a maintenance technician come and resolve the issue at no cost to you. Without a home warranty, this sort of scenario could cost you upwards of $1,400.
One thing that a home warranty will not do is upgrade your home. For example, if you need a new water heater, the warranty won't cover modifications needed to install it correctly, but it will cover the cost of the heater. Overall, you're still going to be saving yourself thousands of dollars.
Another example would be if you needed a new air conditioner to meet EPA standards. The warranty would cover the cost of the new system, but would not cover the cost of modifying your home in order for the system to work properly.
Home warranties are available to any home going through an escrow, and it's important to buy one so that you can be fully protected the day you sign your lease and move into your new home.
While a warranty will not cover everything in your home, it will surely save you thousands of dollars at one point or another.
You can contact Francine at 1 800 698-0422 x 6345 or email her at fahyan@firstam.com
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