By Michael Hughes October 3, 2010
Are you having nightmares of your offer being accepted and waking up in a cold sweat because you see your bank account being depleted by this house you also affectionately know as “the money pit?” Your offer, if you’re going to buy house in Boulder will need to include a Home Warranty Policy, paid for by the seller. This is also available for Bank Owned Properties. A home warranty is designed to cover the kinds of mechanical, plumbing and major appliance repairs that homeowner’s insurance doesn’t: clogged pipes, air conditioner or furnace failures, and appliances that go on the blink. A Home Warranty plan offers peace of mind to home owners who are looking to avoid repair or replacement costs on a variety of household systems and appliances. Know your investment is safe and you will sleep like a baby at night instead of worrying if your purchase is a money pit.
In addition, because repairs and appliance or mechanical replacements can sometimes run into the hundreds and even thousands of dollars, your savings can be considerable when something goes wrong. For the price of a service call, the policy will usually cover the entire cost of repairing or replacing the broken item and the seller pays for this coverage, of course not the nominal fee for the service call. And you have the option each year to renew the policy and retain your peace of mind.
Just be aware, the basic policy covers the basic systems. Work with your Realtor to make sure you have the proper coverage. There is basic coverage and above and beyond that is coverage for you roof, pool, spa, built in refrigerator (like Sub-Zero) outdoor kitchen and BBQ, washer, dryer, usually require an addition to the policy to be included in the coverage. Check with the provider to understand your Options, Coverage and Prices.
If you have questions about this article or anything Boulder give me a call anytime. Michael Hughes-Fuller Sothebys International Realty=303-359-6627 or you can visit my website at www.BolderRealEstate.com