Home Warranties And The Market…
In the real estate market, most homeowners find themselves at the mercy of their Realtors and their expertise. When buying and selling homes, people rarely have time to research home warranties, interest rates, appraisers, home inspectors, and all of the other factors and questions that might arise during the process. So, it is very important to use a qualified, trustworthy Realtor with a good track record and comes recommended by previous customers.
One problem with putting so much faith in Realtors is the kickbacks and ulterior motives they may have for certain choices and recommendations they may make. One example of this is the endorsement of specific home warranty companies. In 2010, this issue came before the courts and legislation was ultimately created to make illegal any sort of compensation given to a real estate agency by a warranty company in exchange for referring them to clients.
Now that home buyers and sellers can be confident that their Realtor will not be biased in their recommendations of warranties for their homes, many people choose to have the protection of such a policy. Sellers want to make sure that they are protected if an appliance or some system in the house is not working properly soon after the sale. If something major goes wrong, the buyer could quite possibly sue for compensation and nondisclosure. This can be true even if the seller was unaware of the potential problem. Similarly, the buyer gets peace of mind when purchasing a house. If anything does go wrong, they don’t have to fork over hundreds or thousands of dollars for a home they thought was in move in condition. These costs can be devastating, especially for those paying thousands for a down payment. Because of this concern, many buyers insist that a warranty for the home be written into the purchase agreement.
So, now people actively buying and selling in the real estate market know that it benefits everyone involved to have such coverage. The next issue to tackle is how to pick the right company. If they are comfortable and trusting of their Realtors, this could be a valuable resource in choosing which agency to go with. There are also resources like the Better Business Bureau and Angie’s List that can confirm whether or not a particular company is reputable. Online forums can also demonstrate through testimonials and ratings of previous or current customers how satisfied they are and why. The websites for the warranty companies themselves can prove valuable as well in outlining just what they cover and how much it will cost the consumer.
The housing market is a complicated system in which everyone is out to turn a profit. The more informed and educated people are in this environment, the better of an experience they will have. Using referrals from people you trust, looking at track records, and understanding where to get information can save a potential homeowner a great deal of time and frustration.
OneGuard provides home warranties for Arizona and Texas homeowners. We believe in offering the best service possible to fix what’s broken.