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Reply to "Our buyer requested a home warranty. Are these good? What do they cover?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you have a pretty updated house, I think they are a huge waste of money. I would give the buyer $500 and a list of your favorite repair companies. Then she can decide whether she wants to use the money to buy a warranty or start a home maintenance fund. If your house really is pretty updated, I would be shocked if she went through the $500 during the year the warranty covered. [/quote] Nah, it's fine. She requested it, and for the price she's paying, 23% over asking, she can have what she wants up to and (almost) including my firstborn. If she asks for rose petals scattered in the bathtub I'm happy to start plucking![/quote] Whether it will be worth it or not is unknowable. Like any insurance-type product, some people get their money's worth, but most don't (other than peace of mind). The really dumb thing about this is that you already have a buyer, who is paying significantly over list, and you have basically decided to give her $500. Why? Because she's paying over list? That's the most fuzzy-headed reason I've ever heard. You entered into a business transaction with this person, and after the deal is done, she asked to renegotiate the terms of the contract for a $500 rebate. I assume that after your plumber comes buy, quotes you a price you agree on, does the work, and then requests an extra $50 just because, you give it to him too? Your answer should be that if she wants a home warranty, she's more than welcome to purchase one. [/quote] What on earth are you going on about? I’m the OP. The home warranty request was part of the offer. When we laid out the offers, we deducted $500 from hers to cover the requested warranty. I asked about it here because I was curious why someone who wanted a house badly enough to offer so much over list would then ask for something little like that. Honestly, I think the realtor probably put it in to reassure her since it is an older house and she is a first time buyer. But thanks for the condescending lecture![/quote]
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