I am in the process of selling my older house. While I have tried to keep it up, being around 100 years old, there are inevitable surprises in the process that I’m sure the new owners will discover. I found a few in the new house (only 90 years old) that I purchased, and have wished that I had one. Has anyone used or felt a home warranty was worthwhile when selling a house? What companies are good? I have probable buyers via word of mouth, though we have yet to hash out the fine details.
When you receive a written offer, most likely the home buyers will ask for a Home Warranty. Since your house is old you should be prepared to pay for the Home Warranty out of your proceeds. Don’t bother getting a Home Warranty before you sell the house (I don’t think they are transferable) , just offer one to the new buyers. Let the buyers select their own Home Warranty company… the real estate agents should be in charge of selecting one for the buyers.
It isn’t clear in your post whether you are selling by yourself, or selling your house with a listing real estate agent. If you are selling by yourself… is the buyer represented by an agent? If so, let the buying agent select Home Warranty.
Make sure that you make it very clear in your sales contract that you are selling the house ‘As Is’ so you don’t go down a rat hole of them asking for a million fixes and/or calling you up 6 months later with an issue.
In our current home sale, the buyer’s agent is paying for the buyer’s home warranty on our house, so we don’t have to - although, our house is only 16 years old. So the realtor is choosing the company. I think she said it was going to run around $500.
No real estate agents are involved. I am selling by word of mouth. It is a hot area, so I put the word out, had a few showings over the summer and found a buyer who is a friend of a friend. As time off work is hard to find, I am happy to not go through the staging headache. My new house was bought with a sign in front only, and I do have a real estate attorney to help me in the process of selling as he did in buying.
So I offer, pay after or at closing, and they select the company, right?
Sorry, somehow I thought this was something I offered the buyers.
coralbrook, I appreciate the advise regarding “As Is” Typically in this area, offers are contingent on inspection, and of course issues are found, and then discussions ensue. Are you saying “As Is” prior to inspection?
I woild wait and see if the buyers ask for a home warranty. They might not.