Selling my house. Should I purchase a home owner's warranty?
When it's time to sell your home, that may seem like a strange time to purchase a homeowner's warranty. But oftentimes, it may be a requirement of the buyer. When listing your home for sale, offering a warranty can be a great selling point, and might make the difference in a quick sale.
At a time when a buyer is making one of the largest purchases of their lifetime, it can be reassuring to know they will have warranty coverage to help out if a major system or appliance should suffer a breakdown, soon after move-in.
The coverage will start when you make the purchase, and cover you while you have the home listed for sale. Once the sale is complete, coverage will transfer to the new buyer at closing.
The amount of coverage may vary somewhat depending on the company you decide to go with, but generally the warranty will include the major heating/air conditioning system, plumbing system and electrical system, as well as your major appliances such as stove, dishwasher, water heater, and garbage disposal.
The coverage will vary from company to company, so read the small print to find our what is and what is not covered in the warranty. You may have some items you would want covered also, and these can sometimes be included for an additional fee.
Offering a home warranty when listing your house for sale may be the best investment you can make.