Jack Pearce and Al Leonard - Boardman, Ohio. REMAX REALTORS. Real estate and homes for sale in Poland, Canfield, Youngstown, Austintown, Warren and Salem in the Mahoning Valley -  Mahoning, Trumbull and Columbiana Counties. REMAX Valley Real Estate.
RE/MAX Valley Real Estate

HomeTeam
Power.com

Home >> Home Buyers >> Terms
Jack Pearce and Al Leonard. HomeTeam. Serving Home Buyers in the Mahoning Yalley, Boardman, Canfield, Poland, Youngstown, Austintown, Salem, Lisbon, Columbiana, Warren, Howland and Cortland.
The Home Warranty

Jack Pearce and Al Leonard, RE/MAX Valley Real Estate REALTORS, Above The Crowd

Jack Pearce
Al Leonard

Our home is the single largest investment that most of us will ever make, and the last thing that any new home owner wants to deal with are costly repairs or replacement of complex or aging systems.  Whether you are a first time home buyer, seller or existing homeowner, a home warranty is a very affordable way to preserve peace of mind and to help protect your most valuable asset.

What is a Home Warranty?
What a Home Warranty is not.
Benefits of a Home Warranty for the Seller.
Benefits of a Home Warranty for the Buyer.
How Much Does a Home Warranty Cost?
What's Covered?
How Does a Home Warranty Work?

What is a Home Warranty?
The Home Warranty is usually a one-year limited home service agreement that helps protect homeowners against the costs of repair or replacement of covered appliances and major systems that breakdown due to normal wear and tear.


 

What a Home Warranty is not.
The Home Warranty is not a substitute for Homeowners Insurance. A Homeowners policy is "hazard" insurance ― protection against events such as damaging winds, fire, theft, and even liability for injuries and damage you cause to other people. It will not cover your furnace when it fails to come on next October, but your Home Warranty will. The home warranty protects your homes systems (plumbing, electric, heating and cooling) and major appliances (refrigerator, stove, dishwasher, etc.) when they break or stop working all by themselves.


 

Benefits of a Home Warranty for the Seller.
The major benefit is peace of mind. By providing the Buyers with a warranty, your more confident that the buyer won't be knocking on your door after the sale with charges of non-disclosed defects. Considering the expense of defending yourself against such a charge (true or not) the cost of providing a home warranty is minimal.

Secondly, if you purchase a home warranty at the time your home is listed for sale, your home is warranted for you during the listing period until it's transferred to the buyer at closing. Although the seller coverage is not as extensive or far reaching as the buyer coverage, considering that you will probably be asked to provide a home warranty for the buyer anyway, you might as well take advantage of this added protection. (You don't even have to pay for it until closing).

Thirdly, there is a wealth of evidence that homes with a warranty are more attractive to the buyer, therefore they will sell faster and for more money than homes without a warranty.


 

Benefits of a Home Warranty for the Buyer.
Again, the major benefit is peace of mind. Only now, it's peace of mind knowing that after you've used all your cash reserves coming up with your down payment, you won't have to shell out another couple of thousand to fix or replace the furnace or hot water tank any time soon. You'll rest easier, knowing that unexpected repair costs are shared by the warranty provider.

For the first time home buyer, who is not yet used to dealing with such problems the warranty can be invaluable, because after you contact the provider with the problem, the provider will handle everything including calling a reputable repairman or service contractor.


 

How much does the warranty cost?
There are many providers and they all have different coverage, cost and co-pay plans. You should take time to compare companies and plans before you purchase. Typically, however, the cost of the home warranty will run between $350 and $450. For each claim there will be a co-pay (or deductible amount) of $50 to $100. Also, there will be a service fee (usually $35 - $75) for each time a service contractor must make visit your home.


 

What's Covered?

Basic coverage typically includes:

bullet Seller Coverage
bullet Central Heating
bullet Plumbing
bullet Water Heater
bullet Attic/Exhaust Fans
bullet Electrical System
bullet Ductwork
 
bullet Buyer Only Coverage
bullet Roof Leak
bullet Central Air Conditioning
bullet Septic System
bullet Refrigerator
bullet Dishwasher
bullet Range
bullet Oven
bullet Garbage Disposal
bullet Trash Compactor
bullet Built-in Microwave
bullet Garage Door Opener
bullet Door Bell
bullet Central Vacuum
bullet Lighting Fixtures
bullet Fire/Burglar Alarm System
 
bullet Buyers Optional Coverage
bullet Washer/Dryer
bullet Pool
bullet Pool/Spa Combo
bullet Water Well Mechanical


 

How Does A home Warranty Work

  1. You determine that a failure has occurred in a covered system or appliance.
  2. You call your warranty provider. (Note: Your first call is always to the provider. If you call a repairman first you will almost always void the warranty. Call the warranty provider first for instructions.)
  3. The provider will contact an approved service contractor with whom the provider already has a business arrangement.
  4. The service contractor will contact you for an appointment to access the problem.
  5. The service contractor will repair the problem according to the terms of the warranty.
  6. The provider will pay the service contractor for parts and labor and bill you for the deductible portion of your plan as well as the service fee.

See Also

 
The Home Team, Jack Pearce and Al Leonard. REMAX Valley Reak Estate, Boardman, Ohio
RE/MAX Valley Real Estate Phone: (330) 629 - 9200
1006 Boardman - Canfield Rd. Fax: (330) 629 - 9201
Boardman, Ohio 44512 Free: (866) 629 - HOME

RE/MAX Valley, Outstanding Agent Outstanding Results

Home   About RE/MAX   Contact Us   Home Search

 
Ohio, Mahoning Valley Real EstateEqual Opportunity and Fair Housing HUD LogosREALTOR & Multiple Listing Service Member Logo

RE/MAX Valley Real Estate
 is an independently owned and independently operated franchise of
 RE/MAX International Inc.