We Know: What's A Home Warranty?
What is a Home Warranty and is it Essential?
A home warranty is a protection plan for homeowners. It is a contract that is entered into by the seller of a house to assure the buyer that unexpected repairs and the replacement of major items will be covered should they be necessary, as long as the problems occur within a certain amount of time after the house has changed hands.
What Does a Home Warranty Cover?
Typically, a home warranty covers most appliances including the dishwasher, trash compactor, central vacuum, garbage disposal, oven, cook top, stove, and built in microwave. It also covers the water heater, plumbing, electrical system, and heating system. Often it will cover things such as the doorbell wiring, duct work, and ceiling fans.
What Things Will a Home Warranty Not Cover?
A home warranty does not cover the roof of a house, walls, doors, or items that are not built into a house, such as a portable dishwasher or often a washer and dryer. Just because an appliance came with the house, doesn't mean it is automatically covered by the home warranty. When in doubt, always ask for a clarification from your real estate agent.
Are There Optional Items That a Home Warranty Might Cover?
There are negotiable items that can possibly be covered by a home warranty. These items include the roof of the house, air conditioners, well pumps and swimming pools. Occasionally, washing machines and dryers can be eligible for coverage, so always double check to make sure before you sign anything.
Who Provides a Home Warranty?
Usually home warranties are available through the real estate office that is listing the house. There are no set rules as to who must purchase the warranty, but often sellers do it as an incentive to convince someone to buy their house. If a seller doesn't offer a home warranty, buyers are always allowed to purchase one for their own piece of mind.