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Sell Your Home Faster With a Home Warranty

Written by Posted On Tuesday, 01 December 2015 12:57

There are many ways to increase the value of your home before putting it on the market. Often homeowners make home improvements on the interior and exterior of their home prior to selling. What many homeowners may not think to do is sell their home with a home warranty.

Increase the Home’s Value

Homes with home warranties sell for more than $2,300 compared to homes sold without a home warranty. When a warranty is included in the sale, homebuyers know that any costly repairs due to wear and tear are covered, giving them peace of mind. This means that homeowners only have to pay a service fee for a repair or replacement, instead of hundreds or thousands of dollars.

Get Free Listing Coverage

Sellers can receive free listing coverage for up to 6 months at no cost, rather than purchasing home warranty coverage to be included in the price of the home. Repairs and replacements due to normal wear and tear are covered up to a certain price, and the seller is only required to pay the service call fee. This protects the seller’s budget and prevents closing delays due to an unexpected appliance or system breakdown. 

Purchase for the Buyer

Even if the seller doesn’t have a home warranty already, one can still be purchased on behalf of the buyer. Sellers who do this are able to sell their homes faster and for more money. Buyers are only required to pay the service fees for a year. This could be agreed upon before closing, or offered with the sale of the home. 

Easily Transfer Your Warranty

If the seller already has a home warranty, he or she can advertise this in the listing to sell the home faster. The remainder of the contract can easily be transferred from the seller to the buyer.

Typically, the seller has to call the home warranty company to notify them of the new owner and change the contract information. There may also be a small transfer fee. 

The good news for sellers is that it’s also easy to get a home warranty on their new home. Typically this involves cancelling the warranty and using the refund toward a new home’s contract, but this varies among companies, so always ask your company how to transfer your warranty from your existing home to your new home.

Finding ways to make a deal more attractive to homebuyers will always help your listing stand out from the competition. A transferable home warranty is one way to sell your home quickly and for more money, and provides both you and the seller with peace of mind.

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Whitney Bennett

Whitney Bennett develops content for Landmark Home Warranty, a home warranty service provider to residents in Arizona, Idaho, Nevada, Oregon, Texas and Utah. To view more of Whitney's content, visit the Handy Home Blog.

 

www.landmarkhw.com/

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