Monday, April 14, 2008
I once marketed a house sale for a Superior Court Judge who told me that he desired to have a home warranty plan in effect after the sale of his Victorian Style Home.
He told me that there was nothing wrong with his home, in was just in case, as he saw personally lots of court cases that involved disputes after the close of escrow.
I told the judge, that I believed in home warranties and we would place a home warranty for unexpected repair expenses.
Six months after escrow, the Judges home that he sold had a defective forced air heating system was in need of repair in the amount of $1,200.
The Trade call of $55.00 was paid by the buyer and the entire $1,200 repairs was paid by the Home warranty company.
I have seen 2-3 needed repairs completed with a year of a post sale.
Home Warranties have a basic plan that cost in $255 range and ultimate upgrades can be in the $355 range.
Mobiles, condominiums, and townhouse coverages are presently $255.
These plans are often split equally between the buyers and sellers.
Why get in a dispute or a law suit over a heat pump, plumbing or a well pump in a rural area.
The following are 2 California Home warranty companies.
www.AHSsales.com American Home Shield
www.firstam.com/warranty First American Home Buyers Protection Warranty
Talk to your Real Estate Broker, attorney, about Home Warranties and the value to all parties in case of a repair or a dispute after close of escrow.
Jim W Hildreth-Mediator