Hello, and welcome to Discover NC Homes and Nolan’s news. And as always, thank you for having us. Today I wanted to talk about home warranty and when to purchase one and when not to, as a seller.
So first, what is a home warranty? A home warranty is through a third party company. They usually range in between $500 to maybe $700 and it protects various things in the home for one year.
It’ll protect your heating and air system, appliances – so just things in your home, again, through a third party company. Some listing brokers upfront put a home warranty on a home. It’s a service they offer or they, as a broker, recommend that you get a home warranty.
I don’t personally believe them. I don’t think that they’re a huge selling feature. Some people want home warranty, some people don’t, but it’s not something that I, as a selling broker typically do. But, if a buyer asks for a home warranty throughout the transaction, if they want to negotiate one in, it’s an easy give so to speak. So definitely give it. Again, it’s a $500- $600 value. And I think it does give the buyer confidence that things are covered for a year.
So just to sum up, I don’t purchase home warranties or recommend on the listings that I have, but if a buyer’s asking for one during the transaction or the negotiation, it’s a really easy give, so why not to do it?
Thank you guys as always for having us. If you have any questions, just let us know.
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About Nolan Formalarie
Nolan Formalarie has been in the North Carolina Real Estate Industry for over 8 years and enjoys every minute of it. He is involved in every aspect of the industry including selling and purchasing residential property, home watch services, property management, association management and construction.
