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Rainmaker
3,070,784
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

To cover the "non" pre-existing conditions....

Dec 22, 2015 07:27 PM
Rainmaker
534,926
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

I have had a bunch of people use them. One even got a new heat pump.

Dec 22, 2015 08:21 PM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It is not as bad as it sounds. I have had buyers who got  a new water heater because it was covered within a month of settlement. A buyer called me and thanked me because her washing machine broke down and we had requested the seller provide a home warranty.

Dec 22, 2015 08:09 PM
Rainmaker
1,346,841
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

An honest question, but no, home warranties are very valid and pre-existing has to be proven or obvious. I have had clients get new & FREE (minus deductible $55-$70) clothes dryers, HVAC units, dishwashers, fridge, water heaters and many repairs too.

This also give the buyer some assurances and the seller too, anything that goes wrong during marketing or escrow is covered. I have sold them or offered them as perks since 1999, I believe they are valid and American Home Shield (with the discount appliance program) is the best.

Dec 22, 2015 09:27 PM
Rainmaker
6,966,313
Roy Kelley
Retired - Gaithersburg, MD

Regardless of the limitations, a home warranty can sometimes increase the comfort level of the home buyers.

Dec 22, 2015 08:38 PM
Rainer
42,520
Fred Hafdelin
Weichert Realtors - Mountain Lakes, NJ

Have you ever seen a warranty that covered pre existing conditions? 

Dec 22, 2015 08:27 PM
Rainmaker
938,355
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Out here, where temps reach 120+ in summer, having coverage for that HVAC alone will pay for itself each year. It is going to depend on the HW company and reading that contract thoroughly. Also, buying the best coverage you can afford. I have rarely seen a pre-existing condition rejection. But states are different.

Dec 22, 2015 10:18 PM
Rainmaker
1,708,235
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I have ceased to be a fan of these. We had one on our personal home and two years ago it was cheaper to replace the H/A sustem on our own as going through the warranty company. It also proved to be faster not using them as well as getting better service people.

Dec 22, 2015 10:13 PM
Rainmaker
1,667,326
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

If used properly, some home warranties are very worthwhile and a benefit in helping sellers move their homes. I have one buyer who received a home warranty from us as a closing gift and they have already replaced their water heater and pool pump with both only costing them a total of $150. Tell me that is not a good value?

Dec 22, 2015 09:33 PM
Ambassador
1,409,284
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

We don't have them up here!

Dec 22, 2015 09:16 PM
Rainmaker
4,327,636
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I have clients use them very successfully. I recommend them every time and write it in the contract for the seller to pay for 1 yr. It depends on the company but AHS has paid for water heaters, dishwashers, HVAC's etc. for my clients. Definitely peace of mind at closing.

Dec 22, 2015 09:10 PM
Rainmaker
4,433,184
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I have a warranty on my home and it's saved me a ton of money, including the full replacement of one the air conditioners in my home last spring for a total cost of $100 to me. The warranties have paid off well for many of my clients over the years.

Dec 22, 2015 09:09 PM
Rainmaker
3,335,183
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Not true at all in the warranty companies here...and we recommend them every time...and have one on our house with a green upgrade !  What would you rather do...spend $500 on a warranty or ....buy a new furnace, ac system....stove...they are jsut the best !  You need to find a bteer company...we use HWA  14 policy and loive it as do our clients.

Dec 22, 2015 09:05 PM
Rainmaker
804,277
Susan Laxson CRS
Premiere Plus Realty - Naples, FL
Realtor in Naples & Marco Island, FL

I have had clients use them very successfully, such as when the water heater breaks down within the year or the dishwasher etc.. I agree with Roy that there is a comfort level that the buyer feels when they close with one.  But I will also say that I am surprised what some home inspectors don't/won't inspect in their reports in recent years, perhaps due to so much litigation heaped on the industry.

Dec 22, 2015 09:00 PM
Ambassador
5,698,644
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I am not a fan of any warranties.

Mar 03, 2019 11:18 PM
Ambassador
3,724,077
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

There are some companies that don't have a pre-existing condition exclusion, although most limit what they will pay for big items, like a dead HVAC system. 

Dec 23, 2015 06:05 PM
Ambassador
4,316,065
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

TeamChi - Complete Home Inspections, Inc. I'd say, home warranties do help! At least on few occasions, I got my heating system this season and central air last season fixed - just with co-pay!

I am not handy and these service calls are just a phone call away.

Dec 23, 2015 03:13 PM
Ambassador
3,944,263
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I never had that happen!

Dec 23, 2015 01:49 PM
Rainmaker
3,986,000
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

They still cover a lot and many of my clients have cashed in on this

Dec 23, 2015 08:49 AM
Rainmaker
634,382
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

We've had many clients make successful claims for new appliances. Money well spent!

Dec 23, 2015 06:44 AM
Rainmaker
614,585
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Michael,
With certain rare exceptions I educate my clients that home warranties are a set up for disappointment.

Dec 23, 2015 05:42 AM
Rainmaker
4,799,651
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

The American Home Shield warranties don't have these.  At least, the last time I checked.

Dec 23, 2015 03:55 AM
Rainmaker
2,683,902
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

All insurance has small print that protects their bottom line which is to stay in business. Now, protect your bottom line....

Dec 23, 2015 03:53 AM
Rainmaker
1,549,405
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I have love/hate relationship with home warranty just because those ''pre-existing'' conditions and exclusions. 

Dec 23, 2015 03:49 AM
Rainmaker
1,424,950
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

It is a CYA for the seller to cover anything that goes wrong that isn't excluded.  The ones I deal with don't have many exclusions and have even replaced water heaters shortly after COE.

Dec 23, 2015 12:30 AM
Rainmaker
4,509,610
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I have had good results with Warranties, but you are correct, read closely there are many exclusions!

Dec 22, 2015 11:05 PM
Rainmaker
1,466,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

TeamChi - Complete Home Inspections, Inc. I think they have their place. Buyer feel comfortable with one.

Dec 22, 2015 11:02 PM
Rainmaker
868,138
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

They're still worth the $4-$600.00 price for what they cover, and give buyer and seller some peace of mind. But, I've actually had agents try to tell me that the warranty would cover the cost of new shingles on the roof.

Dec 22, 2015 10:59 PM
Ambassador
3,986,960
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

They pay off. I get postcard alerts whenever a claim is paid and most of the buyers that have gotten a home warranty have had a paid claim. It gives them peace of mind to know where to turn when a problem occurs and keeps the agent out of the loop. That is priceless.

Dec 22, 2015 10:18 PM
Rainmaker
844,112
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

My first office manager encouraged me to buy warranties for homeowners to intice them to list with me, so in that case it was a marketing ploy. PS I did not.

Dec 22, 2015 10:15 PM
Rainer
80,553
Linda Guess
Keller Williams Tri-Lakes Branson, MO - Branson, MO
Branson area real estate sales.

I purchase one year after year on some of my rentals that have older equipment.  They include pool equipment, water heater, washer & dryer.  Then I don't have major unexpected expenses.

Dec 22, 2015 09:57 PM
Rainmaker
3,376,868
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

So far they have been worthless as they dont cover much and the high deductable was mor ethan any repairs. Perhaps there is a better warranty that should be used

Dec 22, 2015 09:20 PM
Rainmaker
1,440,156
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Just like the extended warrant on vehicles in my opinion a waste of money!

Dec 22, 2015 09:15 PM