It doesn’t matter what side of the real estate transaction you are on, or what kind of property is involved: buyers and sellers alike can benefit from an Arizona Home warranty.
Despite the fact that the real estate market is on the upswing, it is still a buyers’ market. As a seller, anything you can do to gain an advantage over competing listings will help sell your home faster. Research shows that sellers who include a home warranty in the purchase price of their property find the property sells about fifteen percent faster on average than those that don’t. A home warranty attracts more buyers to your listing and increases the chances of making a sell. Furthermore, if a buyer is trying to decide between two similar listings, an Arizona home warranty can often be the deciding factor.
Sellers that offer a home warranty with their listings also have an added layer of protection against potential legal problems. Despite having home inspections performed and a signed Seller’s Property Disclosure, buyers sometimes blame the seller for false representation of the condition of the property, its mechanical systems and appliances simply because they don’t have the money to pay for unexpected repairs shortly after closing. With a home warranty in place, however, there is no need for lawsuits; breakage or malfunctions of built-in appliances and mechanical systems from everyday wear and tear will be covered.
As a buyer, you can purchase a property with confidence knowing it has an Arizona home warranty. You wont’ have to worry about unexpected repair expenses shortly after closing when you may be strapped for cash. The seller usually pays for the home warranty, so you don’t even have to worry about the initial premium.
The age of the home you are purchasing does not matter; an AZ home warranty will benefit buyers just the same. Obviously purchasing a home with older appliances and mechanical systems is a bit riskier. Even homes with newer or upgraded appliances can malfunction too and most manufacturers void their warranty with the sale of a home. With the decreasing quality of many brands, the increasing amount of computerized components and rising repair costs, a home warranty is a must-have for any home—new or old.
Another benefit of a home warranty is it fills in the gaps in coverage left by homeowner’s insurance. While a homeowner’s policy only covers damage that occurs to your home and its contents that occur from hazards, natural disasters, vandalism or theft, a home warranty provides coverage for problems that arise from everyday usage. With one phone call, you can contact the Arizona home warranty company and they will dispatch a pre-screened, certified technician to fix the problem.
As you can see, a home warranty offers many benefits and advantages for both the buyer and the seller. It can help the property sell faster and it gives both parties added peace of mind both during and after the real estate transaction. Buying and selling real property can be a very stressful process. Anything that you can do to simplify the process—such as purchasing a home warranty—is money well spent.