Peace of Mind While On The Market
Saturday, January 23, 2010
Your home is on the market and your water heater goes out. That’s the last thing you want – spend money on something you will not get any return on.
It happened again. A seller in Morgan Hill had their home on the market. One cold morning they went to turn up the heat and found their furnace had gone out. The cost of the installed new furnace: $1,800! While they were warm again their net proceeds from the sale just dropped by a cold, $1,800.
Water heaters, microwave ovens, compactors, ovens, disposals…they all have a functional life and then give up the ghost – without warning. Those repair bills are aggravating and, unnecessary.
A Cool Solution: Home warranty policies are available for sellers as well as buyers. For roughly $.73 a day you can cover all of your major appliances during your listing period. Should something go out you only have to pay a set fee, usually around $55, and the warranty company will repair or replace your appliance for no additional cost. Click here for more information.
The payment for this warranty can be from your net proceeds in escrow. Additionally, if your home doesn’t sell some of the warranty companies won’t charge you anything. So you just can’t lose.
Selling your home can be an anxious time but this little tip will keep your equity in your pocket and provide some peace of mind.
My realtor didn’t tell me about this and I had to pay for a disposal out of MY OWN POCKET while our home was for sale. I wish I’d known.
Larry, I’m sorry you had to pay for that repair unnecessarily. Pass this idea to your associates and let me know if I can help.
Mike
I’m glad I read your post. My house is on the market and I’m just waiting for an appliance to go out. “Peace of Mind”, thanks to your tip, will be cheap. They quoted me $350. Thanks.
Thanks Vaughn,
HOWEVER…”$350″ is the annual fee for a new policy. Make sure you get the per diem for around $.73/day. Good luck with your sale.
Mike