Will a home warranty affect my sale?
Answer – It can but usually not. In Texas, we usually credit the buyer $500 to their home warranty, unless the home is a “fixer-upper” in which case the buyer should be getting a relatively good deal anyways. People seem pretty relaxed the buyers’ inspections are completed.
What are the benefits of offering a home warranty?
Answer – Home warranties are very affordable and offer the new homeowner who is still a stranger to his new house a little peace of mind that everything will be ok. I would say from my experience the most sought after benefit a home warranty has to offer is the ability for the homeowner to have his HVAC system repaired or replaced affordably.
When is a home warranty unnecessary?
Answer – We usually exclude them for homes that need major repairs. Typically foreclosures, investors who are looking to buy cheap to flip are not interested in home warranties. This is a good thing as many of these homes are not eligible for a full home warranty anyways. Other than that, I can see no reason why a homeowner would not have a home warranty these days. These companies must meet strict standards. Just be sure to read your home warranty contract carefully and thoroughly.
What are the downsides to a home warranty?
Answer – Sometimes you need to be a lawyer to fully understand the home warranty contract. For the typical homeowner, there is a lot left to assumption. It takes a lot of effort to dig down and see what your home warranty is really all about. Also, home warranty companies will go to great measures to repair before they replace. You might have an outdated HVAC system that really should be replaced. Most home warranty companies will go to great lengths to band-aid it for as long as they can. This can be very frustrating for the homeowner.
How can I find a good home warranty?
Answer – There are very good companies like American Home Warranty and American Home Shield. These companies contract with local service providers. Your service will be as good as the local company they have contracted with. When looking at reviews to make a decision about a particular home warranty company, be sure you look at local reviews. The same company can have vastly different reviews depending on what part of the country they are servicing.
What else should I consider when selling a home?
Answer – Assuming you are selling a functional home, you should offer your prospective buyers a warranty credit. This tells them that you are comfortable with the homes operating systems. Advertising home warranties can be beneficial to sellers from that perspective but will offer little negotiating leverage at the table.
Entrepreneurship Institute Program Advisor for the PSJA School District.
Benjamin has found a terrific way to give back to the community by donating 10% of his commission obtained in the Rio Grande Valley to scholarship funds at PSJA(Pharr – San Juan – Alamo) School District for the 2019/2020 school year. The PSJA school district offers a variety of programs to their students, such as pre-law, entrepreneurship, and law enforcement. Many of these students are very intelligent, with tons of potential to offer our society. Unfortunately, many of them are underprivileged from broken homes. It is not uncommon in the Rio Grande Valley for students to be without the love and support of their parents and families, many of whom reside in Mexico. These children need to be allowed to show the world what they can achieve. Benjamin is an adviser at the PSJA Entrepreneurship Institute Program working with these kids, allowing them to experience real-life scenarios of marketing and business.
If you would like to help the kids at PSJA, please contact Benjamin Ross
“It is important that we in business take an active role in teaching, directing, and guiding our youths so they may experience a full life while enriching our society and culture. I hope that one day they will pick up the mantle themselves and give back to the community from which they came.”
Benjamin’s Published Articles and Quotes (see all)
Because of Benjamin’s knowledge of real estate, his quote’s and articles have been featured in many publications nationwide, including the ones’ displayed below.