Do you negotiate a Home Warrantee? What is a Home Protection Plan?
I was inspired to write about this, by reading a recent consumer’s question on AR Re.: Discovering a roof leak, who will cover it? There were nice answers, good suggestions, but no one asked this new home owner, whether they had a Home Protection Plan.
When I represent a buyer, I automatically advise them to ask the Seller for a home warrantee. First and foremost I spell out, that at the minimum, there should be a Roof protection, pool and Spa and the equipment that goes with it. I also include the appliances; again I spell it out, stove, washer, dryer and refrigerator.
This home protection plan can be customized to what buyers and sellers and agents perceive as important areas, where protection is needed. For example Air Condition and Heating are important to some buyers.
I create a discussion prior to writing the offer, during our search for the right property is part of my ‘Talking Points’. When we get to writing the offer it becomes, “…oh thank you for reminding us…” I even joke about it. “…as much as I love to hear from you….I do not want you to call me with the dreaded question….Who will pay for this repair it was not disclosed…”.
It is very important to have this Insurance Policy for harmonious relationship and peace of mind. This also prevents adversarial phone calls or letters. If you do not negotiate this for your buyers, then you are doing a disservice to all parties, sellers, buyers and agents.
If you are a consumer who is considering buying or selling investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Beverly Hills ,Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com or visit one of my websites http://www.endrebarath.com