Not every home needs home warranty coverage. So, as a homeowner, you should get appliance warranty plans if only it makes financial and practical sense. Home Warranty is a appliance repair contract which takes care of repairs of electrical, plumbing and appliances inside the home.
When is the best time to purchase a home warranty?
Purchase it through a real estate transaction where they will get a discount if they purchase the home warranty within 30 days of closing. That said, you can purchase a home warranty at any time on a house of any age, no matter how long they have lived in it. Homeowners purchased a home warranty as a protection plan for their appliances and systems that will inevitably fail.
How much is an average home warranty?The size of your home may also be a factor. Anything over 5,000 square feet will cost extra, but that is typical of all home warranty companies. Can be $43 per month with a $100 service call fee, but the price you get may be completely different. Packages can range from $300 to $600 or possibly more depending on plan and size of home.
Who pays for home warranty in a real estate transaction?
Now, whether the seller pays for the home protection plan and home warranty coverage or whether the buyer pays for it, will depend on your local customs. It varies. In many locales, it's normal for a seller to pay for the coverage because it's a seller benefit.
How long do home warranties last? Components of the heating, ventilation and air conditioning system as well as the plumbing network may be covered for at least one year. Some builders may extend home warranty coverage up to 10 years for major structural defects in new construction homes.
Do home warranties have a waiting period?
Having a home inspection is a good idea. Home warranty companies will only repair and replace a system or appliance covered by your home warranty contract. If you open a claim on a failed system or appliance after the 30-day inspection wait period has ended, a contractor will come and diagnose the issue.
Do Home warranties cover pre existing conditions?
Whether or not a home warranty company will cover these pre-existing conditions depends on the home warranty company's contract. ... If a home inspection is completed 60 days before coverage begins and shows the failed system or appliance in good working condition and properly maintained.
Are Home Warranty Premiums Tax Deductible?
The Internal Revenue Service (IRS) allows several home related expenses to be deducted from income tax. While most homeowners enjoy tax exemption on expenses like mortgage interest, property taxes etc, some are unaware whether home warranty premiums are allowed deductions.
As this is pretty basic question and answer information, I highly recommend that you do diligent research for your particular needs and situation. Below are a few links to home warranty companies.
A word from Chris Russell, CEO of Plum Tree Realty:
"One of my greatest passions is to use our real estate business to help alleviate suffering in this world. So we take proceeds from Plum Tree to help orphans, feed the hungry, heal the sick and hurting, and to aid the homeless ... both in the States and abroad. We are not about "getting rich." We are about making a difference. So when you do business with Plum Tree Realty, you can know that a portion of your money is going toward helping those on this planet who are in need of help. Together we can make a difference!"
To help people realize their dreams in home ownership and real estate investing through the highest levels of broker services at the most affordable prices available.
Our Core Values:
Integrity in every relationship, decision, and transaction.
Truth in word and deed.
Hard work that keeps us ahead of the competition.
Sacrifice of our own interests for the gain of our clients.
Commitment to excellence in every task we perform.
Respect for all people.
Giving to those with whom we work.
Areas of Expertise:
Residential Real Estate Sales and Purchase
Commercial Real Estate Sales, Purchase and Leasing
Real Estate Investing (buying, selling, holding, rehabbing)
Property Management and Leasing
Putting it Together
Plum Tree Realty is a premier real estate marketing company focused on helping buyers and sellers get the highest level of real estate services. We help home owners, for instance, who have homes for sale in Mason, Ohio to price their homes in a competitive way since the market is growing in such a fast rate in that area. When a buyer is looking for West Chester, Ohio real estate for sale, we can guide them to the very best deals that are available, and we can give them expert advice as they make such a huge purchase. We cover all of the major real estate markets of the Greater Cincinnati including the following hot markets:
Cincinnati, OH Real Estate (homes for sale)
West Chester, OH Real Estate (homes for sale)
Madeira, OH Real Estate (homes for sale)
Monroe, OH Real Estate (homes for sale)
Indian Hill, OH Real Estate (homes for sale)
Hyde Park, OH Real Estate (homes for sale)
Blue Ash, OH Real Estate (homes for sale)
Lebanon, OH Real Estate (homes for sale)
Loveland, OH Real Estate (homes for sale)
Fairfield, OH Real Estate (homes for sale)
Hamilton, OH Real Estate (homes for sale)
Liberty Township, OH Real Estate (homes for sale)
Kenwood, OH Real Estate (homes for sale)
Mount Adams, OH Real Estate (homes for sale)
While some people search for homes according to the suburb names, others are very interested in the top school districts in the area such as homes for sale in Mason School District, homes for sale in the Lakota School District, homes for sale in the Wyoming school district, homes for sale in the Sycamore school district, homes for sale in the Monroe School District, and more. Our agents are highly-skilled in placing families in the best school districts in Cincinnati according to the desires of each family involved.
Of course, we also have great skill in helping buyers and investors find foreclosures, short sales, bank owned homes, and other great investment properties in the Greater Cincinnati Metro Area as well. Many of our agents are investors themselves, so they are great at helping other investors be the first one to the "golden egg."
We also have agents who specialize in helping families who are relocating to Cincinnati, Mason, West Chester, Blue Ash, Madeira, and any of the other regions in Southwest Ohio. It's great to have "feet on the ground" when you are looking to make such a move.
Plum Tree Realty has also become quite a favorite company for those who like to try to sell their home as a For Sale By Owner in Cincinnati as well. The reason for this is that we offer a $500 flat-fee listing to home owners who would like to sell as a FSBO, but they would also like to have a presence on the Cincinnati MLS search for homes for sale. Most FSBOs miss that exposure, but for just $500, we can help them get listed on the Cincinnati MLS and find buyers at the speed of ... the internet!
While most brokerages feel they have the best agents in Cincinnati, we truly believe that we are at the top. Many larger companies like Sibcy Cline, Remax (RE/MAX), Coldwell Banker West Shell, Comey & Shepherd, and others are at a size that makes it difficult for them to react to the markets and changing times at a great speed. Since Plum Tree is smaller, we are able to respond to market conditions rapidly and efficiently which gives us a disting market advantage. Remember: "It's not the big who eat the small; it's the FAST who eat the SLOW!"
As a change of pace, I thought it would be fun to read about the “s
"After spending a year with two listing agents and brokerages, I listed my home with limited representation to save the traditional listing commission (2-3%), use those savings to lower my list price and be more competitive in a slow market. If you're thinking of selling your own home and are comfortable with handling most aspects of the sale, you owe it to yourself to contact Chris Russell at Plum Tree Realty. They offer a flat fee MLS listing service, coaching and full service representation. You determine the level of service you need and the price paid. Their service is very professional, they do exactly what they say they will and both buyer and seller benefit from the reduced cost of selling your home."