A Home Warranty can Bridge Negotiation Gaps
A home warranty can help you prepare for the worst during the chaotic period of selling your home — whether itʼs the water heater or refrigerator that goes down the drain. With a policy in place, instead of panicking, you can simply call your provider. Plus, home warranties can be used as marketing incentives to attract buyers and provide a little extra peace of mind.
Here are 10 key insights about home warranties anyone selling a home should know.
- A home warranty isnʼt the same as homeowners insurance.
- Home warranty plans vary in their coverage.
- Offering a home warranty to buyers may cost you nothing.
- A sellerʼs home warranty protects you during the listing period and can help you save on repair requests.
- Home warranties are often transferable from seller to buyer.
- A home warranty is a popular incentive to attract buyers in a slow market.
- In a sellerʼs market, you likely donʼt need to offer a warranty as a carrot, but… In a sellerʼs market, you donʼt need to dangle the offer of a home warranty to bring in buyers.
- A home warranty provides your buyer with peace of mind about their purchase.
- A home warranty is useful in negotiations when buyers present repair requests.
- Deal hanging by a thread? A home warranty can help.
When in doubt, consult your real estate agent on whether you should use a home warranty for listing coverage or as an incentive to attract buyers depending on local market conditions. He or she will know whatʼs typical for the area, and how to leverage the warranty to craft the best possible deal.
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