5,104,931
I carry a home warranty on my house and last year my $500 warranty bill saved me over $4,000 in repair expensese, including installation of a new HVAC for my second floor which cost me my $100 deductible. They've been life savers for many of my clients and our daughter, as well. Just know what company you are working with.
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Will Hamm
Aurora, CO
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Candice A. Donofrio
Fort Mohave, AZ
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Jeff Pearl
Lovettsville, VA
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Peter Mohylsky, Beach ...
Miramar Beach, FL
911,338
They ( HMS) have done what they've said they would do more than once. They replaced a HVAC unit for one of my sellers in Ashburn for total cost of around $225.00 one year. Good thing, because seller was low on funds, lost job, and couldn't have afforded to have it replaced.
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Nina Hollander, Broker
Charlotte, NC
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Peter Mohylsky, Beach ...
Miramar Beach, FL
2,220,654
No Peter, but it gives the buyers a piece of mind..
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Anthony Acosta - ALLAT...
Atlanta, GA
3,071,489
5,216,409
Some of my buyers have made out quite well with ther warranty!
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Peter Mohylsky, Beach ...
Miramar Beach, FL
5,005,659
Many of my buyers have utilized many claims on their warranty that the seller paid for their first year of owning a home. They have continued to renew because of the items were repaired or replaced.
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Peter Mohylsky, Beach ...
Miramar Beach, FL
3,626,530
They work alright, it just all depends (cost wise) on who you decide to use...
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Candice A. Donofrio
Fort Mohave, AZ
152,661
I sold a friend a house, dryer stopped working the first time he used it. Old Republic sent someone out and it was replaced.
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Peter Mohylsky, Beach ...
Miramar Beach, FL
5,868,554
A few buyers have asked for them. One buyer had to use them, but the warranty company would try to fix, not replace, and eventually, they would do nothing to replace it.
2,759,812
1,622,432
Yes, we bought a house with poor yet still working A/C and since we got 100+F those days, all companies were very busy. AHS just refused to repair, so we dropped them immediately. My clients told me similar stories, if is is an expensive item, even after years of paying warranty, they just drop you.
6,393,494
4,319,419
Peter Mohylsky - I usually recommend it to my buyers.
A buyer of 3-year old home had issue with the 'computer chip' in the furnace within couple of months of buying a home. And they saved more than $1,500, just by going for the warranty, as recommended.
And few weeks back, a buyer got brand new water heater - since it could not be fixed. Saved about $1,000!
I have many more stories like this...
2,224,473
My story happened years ago. It was a bank owned house where the bank, as the seller, offered the warranty. My buyers refused the inspection. There was a plumbing issue in a bathroom. Don't know what caused it. The warranty company paid up.
1,502,998
I have them on four homes. I've gotten new heaters, new plumbing, new commerical grade water heaters and circulating pumps, several new toilets, new kitchen fixtures and the list goes on and on.
1,525,616
I tried to convince a buyer to get a home warranty once and he refused saying they didn't pay very much. I called him a couple of months after closing and he told me he had to buy a new HVVAC unit shortly after buying the house. I almost had to bite my tongue.
864,658
Read the fine prints and ask around. Word of mouth is the best referral. Many home warranty companies overpromise and are out of business.
223,831
It's important for future potential litigation with some things that can go wrong in a house
4,800,082
I had one on my own home for a while. I eventually dropped it because it was such a struggle getting them to cover their obligations and their preferred service providers were awful.
634,482
I see you have a good list of stories already, Peter. I'll add one that happened during an escrow. We put a home warranty - paid by seller - into the purchase contract to protect the buyer who would not be moving in until a few months after the closing. After closing but prior to the move-in date two problems arose and the warranty paid for itself 4 times over. Definitely worth the price!
763,883
Peter Mohylsky the best reason to have a home warranty is to have another layer of protection against being sued. It won't guarantee it but could help for many home condition lawsuits such as A/C Heater, Electrical and Plumbing. Since the seller pays for it in most cases, it's cheap insurance for us.
4,272,548
Just piece of mind. I did have a $20k furnace replaced for a mere $75 service call.
4,936,705
I normanally recommend them and yes, I have had a stove fix and a furance replace in the last year for clients
628,814
I have had many previous Buyers & Sellers who have thanked me for recommending and on and it has paid off on big ticket items in some cases. I recommend them as a piece of mind insurance policy for resales.
1,157,785
One well known local lawyer recommends them and has provided several useful anecdotes over the years.
43,981
The last I heard from one of my clients is she called to have someone come out to look at the water heater. She paid $65 and they repaired it. The negative she said was it took 2 days for the appointment.
2,182,552
A Buyer Agent needs to advocate this to leave a Post Settlement Solution for all of the Economic UNKNOWS !
1,052,211
The biggest issue with home warranties is the quality of vendors they use. Really good vendors do not want to go through the bureaucracy of authorizations, so often times you end up with bad ones. I personally believe in home warranties and they are a money saver when systems fail. I also have fired 3 home warranty companies for my own home and I'm threatening to fire the 4th. :)
1,725,996
We have had them in the past with our homes and have benefitted in having them. The unfortunate issue however, is when you attempt to renew, often the second year premium is utterly rediculous, so then switch to a competitor with the knowledge that there is generally a waiting period before any benefits kick in.
4,434,127
I had a listing where the water heater leaked on day of closing. The warranty company replaced it .We had postponed closing to later in the day until it was replaced.
5,049,450
My clients experiences have been positive from what I have been told with 1 exception
1,231,853
Peace of mind for both buyer & seller. However, keep in mind the warranty does not cover previous defects.
1,466,207
Peter Mohylsky I've had clients use the 2-10 Home Warranty with success. Every time a homeowner used the warranty 2-10 would send a post card to the agent. Got quite a few post cards from satisfied clients.
3,988,007
Yes they work and I get a report when the warranty company pays a claim. This gives me a great opportunity to call my client and make another connection. They always say they are glad they have it.
80,653
Home Warranties work fine. You can usually get service within 24 hours. They fix or replace the item that is not working. Some have cost limits, but they have negotiated better prices with repair companies.
1,844,301
Yes they are worthwhile. I haven't had any problems with the company that I use which is Globe.
582,106
We had a very good experience with American Home Shield. I would certainly recommend them as a home warranty provider.