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Real Estate
Reply to "Our buyer requested a home warranty. Are these good? What do they cover?"
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[quote=Anonymous]When I was a first-time home-buyer of an older fixer-upper house, it was very important and ended up being worth the price (even though the seller bought the policy and I didn't). I had problems with the dishwasher, the washer and the hot water boiler. The d/w and washer turned out to be maintenance and adjustments, but the water boiler ended up being on its last legs. The warranty replaced the hot water boiler with one that would likely have cost me around $800. So worth it. And as a first time home-buyer, I didn't know much about the appliances. I bought one for the house when I sold it and the buyers were again first-time home-buyers and appreciated the policy. I spoke to them at closing and they said that it was one of the selling points for them of my house vs another one down the street that was very similar and similarly priced (one of several plusses). A few months later, I had an item that was not forwarded and they called me to pick it up. I stopped by and they said that they had used the policy on one of the appliances and were grateful that I had gotten it. When you are a new first-time home-buyer, you often don't have a set of repairmen and it's nice to have one number to call about various things that may break in your first home. It's a peace of mind policy and helps as a first-time home buyer gets used to handling home maintenance by themselves. If you have a starter home or a home that is good for first-time home buyers and younger buyers, then this is a good policy to have. If you have a home that is likely to be purchased by older buyers or buyers who are previous home owners moving up, it will be less of an added bonus.[/quote]
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