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Vail Daily, July 11, 1993 by Karen Wilhelm Or, who would repair the garage door opener? Or, if you decided to sell your home, what is the best way to put a prospective buyer at ease concerning the hot water heater? A home warranty can take care of these problems and more! Warranties are available for buyers and are typically one-year service contracts that cover the repair or replacement of major home systems and appliances that break down due to normal wear and tear. Such service contracts often cover electrical, heating, plumbing and air conditioning systems and have one-time premiums that can range from $300 to $500. They also cover most built-in applicances and under most policies, the only additional cost to the home-owner is a service charge to cover the cost of the repair visit. The extent of protection from these waranties depends on a number of factors. Consumers should consider the following tips on finding the right home warranty before purchase: Read the home warranty documents and present your questions to your real estate professional before closing. Check the financial status and service record of the home warranty company; it's especially important to try to obtain recommendations from other consumers and real estate professionals who have worked with the firm. Make sure the policy covers the home systems most common to the area where the home is located. Sellers can also benefit from such waranties, as their property may sell in less time as a result of purchasing the policy for the buyer. There are also policies designed to offer protection for the seller during the listing period. Consumers need to remember that home warranties are not a catch-all tool to cover problems existing prior to the time a warranty is place on a home. Nor will they address every possible concern, but a good policy may make them a little more comfortable with their purchase or sale, especially if they are warranting a second home and don't live in the area. The home warranty program may not be for everyone, but check it out! Contact your real estate professional for warranty coverage and company information and recommendations. Karen Wilhelm, MBA, CRS, GRI is a REALTOR and a Broker for
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