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Asheville Real Estate
Home Warranty for Buyers
Unexpected home repairs
never come at a good time.
A home warranty gives you peace of mind knowing that breakdowns in major systems within your house, such as plumbing, electrical, heating and air conditioning, as well as others, is covered at very little expense to you.
Whether you are buying or selling a home, you can't predict when
a problem will come up, so protect yourself.
In answer to the is growing demand,
Home Warranty Plans are coming onto the market and rapidly gaining in popularity. As more consumers are recognizing not only
their cash value, but the convenience and security they provide, they are flocking in
droves to home warranty protection.
Warranty vs. Insurance:
Do you know the difference between home insurance and a home warranty?
Home insurance - Home insurance provides coverage for catastrophic natural, unnatural and accidental hazards that occur; this may include fire, flood, wind damage and others. Insurance protects items from hazards, such as theft, fire or water damage, etc. In most cases, warranties will not provide coverage in those situations.
Home warranty - Warranties are contracts governing repair and/or replacement of an item in the event of damage resulting from ordinary use or faulty workmanship. Home warranty protection plans provide repair, replacement or both for appliances and systems in your home; this may include kitchen appliances, office, electronic equipment, plumbing, electrical, air, heat and many more – depending on the type of coverage you select.
Home Warranty Information:
Efficient Record Keeping
Be sure to keep copies of all household appliance and system bills for your records. You may be required to submit dates of purchase, depending on the type of warranty plan you have enrolled in. Some consumers neglect to do this and request the info from the manufacturers. Unfortunately, many of the appliance manufacturers do not have a database of this information for easy retrieval. In any case, it pays to keep meticulous records.Home Warranty Company Research
Here are some questions you should be asking of your home warranty program provider before enrolling. After careful consideration of the following, you will surely be poised to sign on with the best home warranty provider!
The importance of preventative home maintenance.
Why is it needed? It is sometimes required by the lender agreement. Your appliances will last longer with regular care. Property value: A carefully preserved property brings a higher price. The more TLC put into it, the quicker it will sell. It is simply a more comfortable living environment. An ounce of household prevention will help eliminate catastrophic expenses later.
Keeping the financial stakes low.
Housing specialists recommend delegating 1% – 3 % of your home’s market value annually to pay for household maintenance and improvement costs. You can do this when you create a monthly budgeting category for your home’s repair needs and dedicate a certain percentage of your income toward it. During the months where no cash is needed for repair, deposit the funds into a savings account in anticipation of future need – especially as your house gets older.
This is no substitution for a home warranty plan, but it's a good way to increasing financial awareness. Home warranties, remember, are always a good investment for homeowners who also take care of their appliances and systems.
Plumbing
Perform an inventory on all units in the bathroom and kitchen. Are sinks, showers and tubs properly draining? Remove any debris buildup you can on your own, using Plumbers Helper type products.
A plastic bag full of vinegar wrapped around the shower head will remove mineral deposits and unclog plugged-up shower heads. Soak them overnight and in the morning, scrub the loosened residue off with a toothbrush.
Take inventory of the water heater, paying close attention to the pressure relief valve.
Never flush bulky tissue, sanitary napkins or cigarette butts down your toilet.
Electric Examine the condition of all cords on all appliances and electronic devices.
Never handle live electrical wires. Shut off the disconnect device. Thoroughly inspect all levels of the home for exposed wires. Replace those with cracked insulation or those in bad shape. Identify and label all circuits in the service box so it is clear which appliances and outlets are in each.
Heating, Ventilating and Air Conditioning
Sweep out dust, dander, dirt, lint and soot from ducts, chimneys, valves, air grills and furnaces. If possible, have all ducts sealed for both heating and cooling systems. What results will be much more efficient use of air flow and total savings of up to 15 %-20% improvement in air passage. Periodically check and replace filters. When dirty, clean them.
Do not block warm air registers. Keep them free of carpeting, curtains and furniture. Check the valves in the attic for impediments that might obstruct air flow. If you can see clear through to the outside world, your valves are fine. Maintain consistent water levels and practice regular sediment removal when using a steam heat system.
Kitchen
Always keep sinks clean and clear of waste. Break solids into the smallest pieces whenever possible, when using the garbage disposal. Always run water for proper movement down drain. Never pour grease down sink drains. Clean garbage disposal with grated ice and lemon or orange rinds.
Clean fan and coils under your refrigerator at least once a year. Clean interior, gaskets and exterior of refrigerator often. For odors, store an opened box of baking soda on the bottom shelf. Oven/range control panel should be cleaned regularly, but never spray cleanser on it directly. Partly-saturate a rag and wipe down the console.
Wipe down glass and ceramic tops with cleansers created specifically for them.
With self-cleaning ovens, never spray chemical cleansers into them prior to cleaning, as they work by scorching the interior of the oven to a temperature so hot the buildup is incinerated.
Laundry
Check water hoses attached to your washing machine for wear and tear. Replace those that show signs of deterioration or rupture. Make sure your washing machine is level to avoid motion brought about by vibrations that could damage surrounding areas. Adjust the legs in the front and make sure it is close to the ground.
Most people don't realize that many washing machines have lint filters. You will find yours in the center tube of the agitator. Lift it out and empty it periodically. Other washers have lint tubes near the top of the machine that can be pulled out and wiped off.
Clean out your dryer annually. Some lint accumulation may occur outside the filter and in the dryer's cabinet. Clean areas surrounding the lint filter - the chutes and ducts. Office Be sure to make it a habit of backing up computer software data. Keep all electronic equipment consistently cleaned with cleansers that dry on contact. Compressed air is recommended for ridding electronic equipment of dust mites.
A Comparison: The Home Warranty Service and the Home Builder Warranty.
How is a home warranty service plan different from a home builder warranty? If you are interested in protecting your most valuable investment with a home warranty policy, but are unsure of which type to select, read on to learn of their distinguishing features.
What’s Covered?
All homeowners are looking for the same thing: peace of mind and the security of knowing that if something goes bump in the night, all it will take is one phone call to have it taken care of. In a perfect world, there would be one all-inclusive home warranty to address all potential worries, ranging from extreme damage brought on by natural disasters to the malfunction of one of your beloved household appliances. But we do not live in a perfect world. So we have to make a choice and hope for the best.
Two specific types of home warranty services can address your needs. You have options. The differences between the home builder warranty and the independent home warranty service will address two sets of criteria; the major distinction is this: a home builder warranty generally provides coverage against major structural defects while the independent home warranty includes plans that cover your household systems and appliances.
That being said, it’s important to understand what that entails. The most important thing you can do before making this investment is to read the terms and conditions of each and thoroughly comprehend the significance of their meaning.
It’s in the Fine Print
If you read into the fine print of most home builder warranties, you will learn that the coverage under this policy is limited to providing protection against major structural defects of the “load-bearing” portions of your home. “Non load-bearing” items excluded from coverage run the gamut from HVAC, certain wall tiles and coverings, exterior finishings, appliances, *some plumbing and electrical and others. When the repair or replacement of an item under the home builder warranty is approved, matching the repair or replacement to its previous condition will be attempted, but there is no promise that the article will be returned to a like-new condition.
On the other side of the equation is the independent home warranty service. This type of warranty allows the homeowner to pick and choose what components they would like to cover, with flexible plan coverage ranging from kitchen and laundry – to home office – to electrical – to – HVAC and others. One can elect to cover only specific items or choose a comprehensive plan that covers all, with the option of adding individual units as add-ons. The consumer is typically rewarded for choosing the extensive plan coverage with discounted prices and many other value-added incentives, like toll-free assistance and advice that is provided 24/7/365. Another feature of the independent home warranty service consumers find attractive is found with the home warranty service providers who guarantee like-kind or better replacement. Enrolling in a plan that makes that pledge is recommended.
Exclusions from Coverage
Taking a no-nonsense approach to maintaining your home can prevent a lot of trouble later on down the road that can cost a bundle. One reason home warranty service providers have to incorporate exclusions from coverage into their conditions is to avoid repairing items that wouldn’t be in need of repair if they hadn’t been neglected. Fair enough.
It is recommended, however, that you carefully take note of any other exclusions from coverage as listed in the terms and conditions of your warranty policy. The standard home builder warranty will include an extensive listing of exclusions from coverage, far-surpassing the case of owner neglect; which may include some of the following conditions:
With the standard independent home warranty service plan, the list of exclusions from coverage
is much smaller – covering the basics, such things as: insect infestation, neglect or improper
maintenance of appliances and improper installation of appliances and household systems.
Filing Claims
Reputable home warranty services are designed to provide convenience and eliminate the hassle of filing a claim. Ordinarily, there will be one number to call in order to dispatch the specialized trade service professional to your home to come assess and take care of the damage in one shot.
Filing a claim with a home builder warranty provider can present some interesting predicaments.
After a close reading of the obligations of the homeowner when filing a claim, the best advice we can give is to proceed with caution. Your full cooperation will be required. Expect an inspector or multiple inspectors to show up at your home to thoroughly investigate your claim.
Document everything. The more articles you can submit as evidence of the problem, the better off you will be. These can include reports, estimates, diagrams and photos. When the determination is made in favor of the homeowner, s/he is expected to sign a release waiving all rights.
Read the Arbitration Provision of your Home Builder Warranty
With some home builder warranty providers, if your claim is denied and you cannot settle it through their dispute resolution process, you may be asked to sign an arbitration provision. By doing this, you are waiving your rights to a trial in a court of law and you may have to submit your claim to an arbitration company from the home builder warranty provider’s list of approved arbitration companies. Also, take heed of the fact that many of these providers only accept reports from a list of approved construction consultants – encompassing inspection firms, contractors and others.
Concluding Thoughts:
In sum, as painful as it can be to read through the fine print of a warranty policy, it is the best way to go about selecting the warranty provider who is going to deliver what is promised – and it is the most effective way to select either a home builder warranty or an independent home warranty service. Safeguard the quality and craftsmanship of your home and all the beloved items within today and it’ll make a world of difference in your world tomorrow!
Home Warranty Glossary:
Actual Cash Value (n.): A numerical representation equaling the cost of repair of damaged property, minus depreciation; standard to most home warranties.
Add-on item (n.): Household appliances and systems that are not covered under a provider’s plans – but can be added onto a policy for a subsequent sum of money, usually an insubstantial amount.
Air conditioner (n.): A system or device for controlling air temperature and quality. It can be a stand alone unit or an implemented system in a freestanding structure.
Air Duct (n.): Conduit pipelines for carrying warm or cool air in and out of rooms and back to a furnace (or air conditioner).
Annual Fuel Utilization Efficiency: (AFUE) (n.) Metric used to measure a gas furnace’s efficiency at converting fuel to energy. Higher measurements indicate maximum efficiency.
Appliance (n.): A household machine, unit or component which is used to help support household functioning and/or chores. Examples include washing machines, dryers, heaters, air conditioners, dishwashers, etc.
Appraisal (n.): An estimate of value or damage, depending on the purpose of the inquest.
Assessment (n.): An amount of worth, determined as payable to the Assessor.
Assignment (n.): The transfer of a home appliance warranty contract from one owner to another. See also: transferability.
Auto dry (v.): Dryer feature which uses a metric to determine dryness of load and automatically shuts off the dryer, saving energy and contributing to your clothing’s lifespan.
Authorized factory outlet (n.): Manufacturer-approved retailer selected to handle products that aren’t moving, are discontinued, destroyed or are returns.
Balance (n.): Weight distribution of the wash cycle to keep your load balanced and take a proactive approach to the lengthening lifespan of your washing machine.
Bib, bibcock (n.): Water faucet design to support hose attachment.
Breakdown (n.): The malfunction or failure of an item covered in a home warranty plan to operate as it is supposed to.
Building Code (n.): A law dictating standards that must be observed in the constructing of new buildings with special regard to materials used and overall quality. Hence, licensed contractors are the best bet in order to avoid code violations.
Claim: (n.): A request for monies paid out on a loss by the covered parties under a home warranty plan (or for service).
Closing cost (n.): Additional expenses accrued in the transfer of ownership of property.
Common System (n.): Household systems shared by multiple units; they are usually in a development and usually not disqualified from home warranty coverage for this reason.
Control type (adj.): Describes the type of programming of your appliances: electronic appliances generally have digital touch pads while the manual type generally has a pushbutton selection.
Cooktop (adj.): Cooking surface installed on countertops.
Conditions (n.): The governing rules and stipulations within an agreement or contract.
Damp dry (n.): Dryer cycle that leaves clothing partially damp.
Deductible (n.): A flat fee the covered party has agreed in advance to pay when filing a claim.
Depreciation (n.): A decline in the worth of items or property over time.
Downdraft exhaust (n.): Fan system implemented on cook tops which funnels odors and smoke out into the exterior of a home through a ventilation system, similar to a range hood.
Effective Date (n.): The day that home warranty coverage begins.
Endorsement (n.): An addition to a contract that modifies it in some way; in some cases, it may be related to an increase or a decrease in the amount of coverage in a policy.
Energy Efficient Rating (n.) [EER]: The established metric for calculating operating cost (Energy Guide Label); great for appliance comparison shopping.
Exclusion (n.): A documented omission in the terms and conditions of a home warranty.
Expiration Date (n.): The date that the home warranty policy coverage expires.
Filter (n.): Sieve that collects debris in washing machines, dryers and dishwashers and aids in preventing them from being re-circulated among the items in the load.
Frost-free (adj.): Freezer that is implemented with intelligence to recognize frost buildup and eradicate it. Includes built-in heater to serve this function.
Fuse (n.): Electrical device consisting of a strip of metal which interrupts the circuit when the current overloads.
Home inspection (n.): An in-depth surveying of the appliances and systems within your household to determine the condition for assessing future potential claims.
Issuer (n.): The home warranty plan and service contract provider who is responsible for fulfilling the terms of the contract.
In Kind (n.): Language denoting the home appliance warranty provider’s decree to either replace damaged items w/new or like; in lieu of paying out a cash allotment.
Limitations (n.): Disqualified, excluded or omitted conditions for coverage within a contract.
Listed (n.): A period in time in which a home is put up for sale on the market and is identified as such.
Mechanical Breakdown (n): The cessation of the functioning of an appliance, due to one of the operative, structural pieces not working.
Multiple Systems (n.): More than one of the same systems/appliances within a household. With most providers, coverage for an appliance type is limited to one each. Coverage for more than one of the same can be purchased for an additional charge.
Null and void (n.): A policy or contract that is no longer valid.
Non-Renewal (n.): A policy which is not renewed after the expiration date.
Occupancy (n.): Which type of residents live at the location with home warranty coverage; owner-occupied and tenant-occupied.
Physical damage (n.): Damage to the properties or items covered.
Policy (n.): The contract between the homeowner and plan provider.
Policyholder (n.): Person covered under the home warranty.
Pre-existing condition (n.): Conditions that marred the unit prior to home warranty policy coverage, rendering it ineligible for coverage.
Premises (n.): Location of the property which has items within that are covered under the plan of any of the home warranties.
Premium (n.): Payments made by the covered party under the home warranty plan policy.
Radiant heat (n.): Heating method utilizing electricity, hot water or steam pipes to heat rooms.
Rate (n.): The unit of measure used to calculate premiums.
Recall Period (n): Time period whereby it is encouraged that a party contact the provider to file a claim of a failing item covered under the plan.
Reinstatement (n.): Beginning the policy over after having been terminated – w/out losing any of the rights and privileges held prior to its termination.
Renewal (n.): A policy which is issued upon the extermination of an expired one.
Replacement coverage (n.): Coverage that includes the replacement of covered items listed in a home warranty plan.
Residence Premises (n.): The address where the physical dwelling is located whereby the resident lives who is covered under the policy.
Schedule (n.): Items that are covered under a home warranty plan policy are listed here.
Septic tank (n.): Tank where sewage is converted into gas and sludge. Gravity releases the remaining refuse into a subterranean drainage bed.
Service contract (n.): A service contract is typically a written agreement between provider and homeowner that obligates the provider to pay for repair or replacement of household appliances and systems should their functioning cease due to normal wear and tear.
Sump (n.): Sump pump uses this catch basin in the basement to collect water before pumping.
System (n.): A household operation which serves a function for the family living within. For instance, your electrical system has been implemented in order to provide light so that you may see and power so that you may use electronic and other devices requiring electricity.
Transferability (n.): Ability to transfer the home appliance warranty policy from one the seller to the new homeowner. Thermostat (n.): Control used for maintaining a consistent temperature and for turning appliances on and off, regulated by exterior temperature.
Timer (n.): Handy appliance device used to measure and preset time intervals, as in for timed cooking cycles.
Trap (n.): Place in a water pipe that holds water in order to prevent gases from escaping into the plumbing systems of a house.
Underwriting (n.): An applicant evaluation which will determine the rate of coverage to be established based on subjective criteria.
Warranty (n.): A written contract which guarantees covered item(s) and various parts comprising said items in a policy will be repaired or replaced, within a pre-established timeframe and without accruing additional charges.
Weep hole (n.): Water drains from a small hole in the wall cutout of a structure.
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