Stacey Kraft with Home Warranty of America is with me today
to answer some questions on all things seller home warranties today.
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Today’s topic is an exploration into home warranties for sellers and Stacey Kraft from Home Warranty of America is joining us today to lend her expertise in this area. If you missed our first conversation about buyer warranties, take a look here!
Q: First, what is a home warranty?
A: Home warranties are going to cover the mechanical systems in your home, and there’s an acronym that will make it easy to remember each of them: P.E.A.C.H., which is broken down into Plumbing, Electrical, Appliances, Cooling, and Heating.
Q: If I’m a seller, why would I want all of that to be covered?
A: Protection for home sellers is necessary because hiccups can sometimes occur without warning, whether they’re mechanical or otherwise. The last thing a seller wants to worry about when their home is for sale is shelling out money for repairs.
Q: An example of that might be your hot water tank going out. What would a new hot water tank ordinarily cost?
A: I see claim notices every day, and on average, a water heater will run you about $1,000.
Q: A warranty, then, will give a seller peace of mind?
A: Yes, the security blanket that a home warranty offers gives the seller peace of mind, and not only that, it’s a good foundation for when the buyer takes over. Since we have free seller’s coverage on the home, we have a history with it.
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Protection for home sellers is necessary.
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Q. From the point of closing and beyond, how long will that coverage last for the buyer?
A: The new-buyer plans are for 13 months or you can buy a two- or three-year plan up front if you wish to.
Q. If an issue were to arise with the home, what would the seller do from there?
A: The seller will call our 800 number and file a claim. Then, our claims representative will set up a time for a contractor to come to the home and assess the situation. If it’s determined that the repair can be accomplished in a cost-effective manner, we’ll repair it. If the issue is beyond repair, we’ll replace the item.
Stacey and Home Warranty of America have always serviced our needs in a highly competent way, and have been quick to action in getting our claims addressed. Without a doubt, Home Warranty of America is a wonderful resource for you if you’re selling your home.
If you have any questions for Stacey, go ahead and give her a call at (248) 330-1076. And if you or someone you know would like help with any real estate needs, please give us a call at 866-OWN-THIS or email us at [email protected]. We look forward to hearing from you!