Home Warranty, Do You Need One?
A home warranty is a service contract that protects home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear.
Home warranty coverage is for systems and appliances in good working order at the start of the contract. Home buyers can purchase their own home warranty at closing or ask the Seller to provide a home warranty during contract negotiations. Often home sellers offer home warranties with their real estate listings.
The standard home warranty is a one-year service contract that protects a resale home buyer against the cost of unexpected repairs or replacements of major systems and appliances that break down due to normal usage. Coverage is also available to home sellers during the listing and escrow period to help them keep unforeseen breakdowns from potentially tying up the close of escrow.
Home Warranty – What’s Covered
Home warranty companies have a network of licensed, insured, professional service contractors waiting to serve you. The contractors they use have been carefully screened to meet stringent service standards; who are constantly rated by their clients and home owners.
Home warranty covers items that are not covered under your homeowner’s insurance policy, filling a critical gap in the protection of your home. For example, if your dishwasher leaks and water damages the floor, your homeowner’s insurance policy may cover the damage to the floor, but not repair or replacement of the dishwasher itself. With some home warranty companies, your dishwasher is covered!
Check to see if the home warranty policy offers following items as covered. Also find out if the policy covers the full replacement cost of an item.
- Electrical systems
- Water heater
- Heating ducts
- Water pump
- Garbage disposal
- Swimming pool (may be optional)
Other options are available as well. Make the best decision based on your needs and type of real estate you are purchasing.
Buyer Tip Videos
Visit my YouTube Channel’s “Home Buying Tips” playlists. There are many helpful home buying videos to watch.
More Home Buying Tips
If you planning to buy real estate in the Lake Norman area, make sure you understand what steps are involved in real estate contract negotiation. Learn what a Home Inspection should cover and what a Home Warranty covers. Find out what the goal of a final walk-through should be and what Buyer closing costs are and about the HUD-1.
Compare Lake Norman Towns
Moving to the Lake Norman area? No town has the same personalty. Which town matches your lifestyle? Compare these Lake Norman towns before you buy real estate – Cornelius, Davidson, Denver, Huntersville and Mooresville.
Living on Lake Norman
Find Lake Norman Information; the lake towns and counties on the lake. Whether you are purchasing Lake Norman waterfront real estate or planning on boating or fishing on Lake Norman you’ll want to know where there is lake access with boat ramps and marinas. You might even decide to join one of the many boating clubs on the lake.
Lake Norman Real Estate
Planning on home buying or selling a home in the lake area? Search MLS listings that are up-to-date and accurate for Lake Norman real estate for sale, Cornelius NC real estate, Davidson NC real estate, Denver NC real estate, Huntersville NC real estate and Mooresville NC real estate. Don’t forget to search Lake Norman waterfront property. In conclusion, you’ll need to compare these properties, the amenities they offer and the true costs of living in each town.
Useful Links & News
Don’t forget to view Lake Norman links for more information about the entire Charlotte region. Stay up-to-date on the Lake Norman housing trends. Consequently, these sales trends are just as important to home buyers as for home sellers to know.
Thank You for Visiting
The real estate in Lake Norman offers something for every lifestyle. Learn more about Robin A Puckett. Matching homes with lifestyles is the basis for Robin’s Lake Norman real estate business. Therefore, contact Robin if you have any questions.