Brokerage Reminder: Don’t forget the home warranty!

Home warranties are an important component in the purchase of one-to-four unit residential dwellings, and are especially helpful to first-time homeowners who don’t know who to call when that first minor home emergency hits. These plans are designed to eliminate the headaches and high costs associated with unforeseen breakdowns, and make it fairly easy for a buyer to repair malfunctioning mechanical systems and appliances included with their property.

However, what some buyers may not understand is that these policies cover damages and breakdowns which occur after the acquisition of the property due to the normal wear and tear caused by operating these systems throughout the years, and that there are limitations to coverage.