Property Inspection Tips
The Home Buyer’s Warranty
A warranty is your PEACE OF MIND when purchasing a pre-existing home from unexpected repair costs. A typical warranty plan usually costs between $300 and $400 for specified coverage. Not all warranty programs cover the same items, but most warranty programs cover a pre-existing home’s plumbing, electrical, heating and cooling systems, appliances, lighting fixtures, septic system, and more. Coverage typically lasts for one year from the date of your loan closing and can be extended if you pay the extra premium. The buyer or seller can purchase the Homebuyers Warranty. For a small deductible, usually $50 to $100 per occurrence ( depending on your plan ), a service technician is called to repair the covered item and they are typically available with 24-hour, 7-day-a-week service. A warranty is a piece of mind and it can save you a great deal of money spent for repair or replacement of your homes’ major components.