Building and selling a house can be one of the most stressful events. Many sellers may have better homes than yours situated in better places than your locality. Besides that, prospective home buyers’ have specific preferences and needs that they want in a home. Though you can never satisfy everybody’s needs, you can always rely on America’s home warranty leading the market: American Residential Warranty to cover appliances and home systems not insured by the home insurance.
Why Sellers Need To Transfer Home Warranties
Research shows that homes with warranties have increased values and sell quicker than those without them. Warranties are not just for homebuyers but can also be bought by sellers. The same benefits that they give to homebuyers are the same they’ll offer you as a seller.
As prospective home buyers walk into the house to view it, anything may happen. They may accidentally knock off the garage door handle or drop an important electrical appliance. Apart from that, some systems may unexpectedly malfunction as a result of electrical issues. These may significantly affect how your home sells.
However, if you have a warranty, you’ll not have many worries about broken systems or appliances because you can always make a service request, and your warranty company will send you a technician to fix the systems and appliances before a buyer purchases the house.
However, some sellers are skeptical about how they can transfer the warranty to home buyers. One way to do this is by including the warranty plan in your selling price, while the other is to transfer it.
Can You Transfer Home Warranties?
Different plans have different policy agreements though most warranties are transferable. Real estate agents or home sellers usually buy home warranty plans to transfer them to the new buyers. This transferring process is simple and can be done in several ways, including;
- A Real Estate Agent Buying A Plan As A Gift For Their Customers
Most real estate agents like to purchase warranties for their customers that run for a year as a gesture of gratitude and goodwill, as a closing gift. New homeowners are especially strapped for money after spending most of their finances on a down payment. A warranty plan can make them peaceful and reassure them that they won’t have to pay expensive repair costs if a system or appliance fails short when they move into the house.
To get this warranty cover to their names, the home seller liaises with the buyer’s realtor to transfer the warranty policy.
- Home Sellers Gifting A Warranty Plan To New Buyers
Some home sellers use a warranty plan as a tactic to lure prospective customers into buying their homes. That’s a marketing strategy that works for most of them because the prospective home buyers see it as an added benefit.
How To Transfer A warranty Coverage
Transferring home coverage mostly only requires a phone call. Here’s the step by step review:
- The home seller works out details of the person paying for the policy. This could be him or the buyer depending on the policy.
- The seller acquires the new home owner’s address, phone number, name, and email address.
- The seller contacts the warranty provider and gives them the necessary information.
- The seller pays a transfer fee, and the transfer is made.
Bottom Line
A home warranty can be a seller’s powerful tool for attracting prospective homebuyers. The good news is that transferring this warranty is very simple and only needs a phone call and a few processes.
