Outside help.
You Purchase It...
And it protects. But how?
In most cases, you can purchase outside home warranty insurance for new and pre-existing homes.
This type of insurance is paid at closing for a length of one year. The buyer may opt to extend the warranty past one year at the end of the warranty.
A home warranty protects both the seller and the buyer. In fact, some brokers insist on buyers getting the warranty and some will even purchase it for the buyer to close the deal. In other cases, the seller will purchase it as part of the closing package to prevent trouble after the sale. This protects them from outraged buyers who find faults with the new home within days or weeks or months of purchase. It is the best solution to the warranty issue. Of course, these warranties don't cover everything.
What They Don't Cover
They take their cue from medical insurance... and do not cover pre-existing conditions, such as a leaky roof or basement. They don't include structural damage such as a cracked foundation. The focus of the warranties are on the systems-plumbing, electrical, etc.
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