Home Warranties As Part Of Franklin TN Real Estate Transaction

Home Warranties As Part Of Franklin TN Real Estate Transaction


Home Warranties as part of Franklin TN Real Estate Transaction The Home Warranty as a part of the purchase or sale of a home in and around Franklin, TN can save the client money or limit the out of pocket expenses during the due diligence of the transaction.  First, this is not a replacement for your Home Owners Insurance.  Your Home Owners Insurance policies cover your belongings from theft or damage and also you and your guests in the case of injury while on the property, and in most cases these have high deductibles and so are typically only used when the damage is extensive, like a wind/hail storm that damages the roof.  Home Owner Warranties are still a form of insurance as the protect against a potential future risk,  but they only protect the mechanical, electrical, plumbing components of the home and they typically last for one year and have a small deductible. Now that we have a baseline for the difference in the products, let me explain how having a home warranty we recommend can be of benefit to you whether buying or selling in Franklin, TN.    As a seller at the time the listing agreement is executed, we suggest that a Home Warranty is ordered.  Most companies do not ask for payment at the time of the order, it is paid on the date of the sale.    If anything breaks during the 6 month listing period, as the seller you can call the 1-800 number and get advice on if the item is  covered and they can connect you with a qualified technician to have it repaired.  A small deductible at this point is much better than a large repair bill so that you can keep the home in great shape for the showings until we bring you an offer.  Once we have an accepted offer, the buyer will most likely have a home inspection performed and with many home warranties you can see if the requested repairs found by their inspector are covered.  If so again you pay a small deductible per issue or per different tradesman and you can keep the sale of your home on track.  How is that for limiting your out of pocket for the sale of your home?  We also leverage the marketing of your home as being “covered by a home warranty” to help compete with the increased new construction sales that are in our marketplace this year (2o% of the SOLDS on 2013 are  new construction). Buyers also have the benefit of our experience as we recommend that in most cases the buyer consider asking for a Home Warranty in the initial offer to purchase a property.  We can ask that the seller pay for the cost of the basic home warranty and depending upon the offer we can also ask for upgrades to the policy if they exist and are needed.  An example of an upgrade is for a pool or spa.  The benefit for the buyer is that the cost of the warranty is now the responsibility of the seller and for 1 year after the closing date if any covered items fail, the buyer has a limit to the repair cost to get back to enjoying the home.  Call the 1-800 # or call The Grumbles Team to get the claim started and then  get connected with qualified repair technicians and pay a small deductible if the failure is covered. Hope that you have enjoyed learning more about Home Warranty coverage and how The Grumbles Team is helping to protect you and your family during the Franklin TN home sale. Warranty companies that we have used and recommended are listed below.  They each cover differently and have different deductibles and so it may be necessary to review each before deciding on the right warranty for you and for the property.
First American Home Warranty
Residential Warranty Services
Old Republic Home Warranty
 2-10 Home Warranty Services

 Contact a member of The Team  to setup a consultation to buy or sell a home in the Nashville area today.  This is just another example of how we use our experience to help you.


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Phone: 615-582-0909
Dated: December 11th 2013
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