House Sellers & Home Warranties: How It Works

Selling a house can be demanding on both your time and your finances. If you’re aiming to get the best return on investment while selling your home as quickly as possible, it’s in your best interests to invest in a seller’s home warranty.

Before we explain why, there are a few things you should know about home warranties paid for by the seller.

1. Home warranties are 100% transferrable at or after closing.
2. Home warranty plans can potentially boost the amount you make from the sale.
3. A service contract on your house may even result in a faster sale.

Should You Buy a Home Warranty When Selling Your House?

Yes! If you’re aiming to sell your home faster and for more money, you should absolutely invest in a home warranty.

A 2014 study conducted by the Service Contract Industry Council (SCIC) revealed that “[h]ouses covered by a protection plan sell faster and bring their owners a higher sales price than those without [one].”

The same study found that homes protected by such service agreements spent nearly 11 fewer days on the market, on average.

In addition, these homes sold for $2,300 higher on average, than those not protected by a home warranty. Because your house doesn’t stop costing you money while on the market, it goes without saying that you want to move it faster. A little extra cash on top of a sooner sale couldn’t hurt, either.

Of course, there is one other consideration: what happens if an appliance or system breaks while your house is on the market? If you’re covered under a home warranty, you can save significant money on such repairs, protecting yourself against additional, unexpected costs that would otherwise cut into your return.

How Do I Transfer My Home Warranty to the Buyer?

While the method for transferring the home warranty to the buyer can vary from company to company, if you purchase a home warranty from Select, all you need to do is contact our customer support team.

Our experts will help make the transfer of your service agreement to the buyer as easy as possible.

How Much Does a Seller Home Warranty Cost?

The cost of a home warranty varies depending on the type of coverage you want for the plan, as well as the home warranty company’s rates. If you’re interested in purchasing a home warranty for your house to expedite your sale or protect against unexpected service costs, we suggest starting with a free quote.

For more seller information on home warranties, check out our page on selling your home. Get a FREE QUOTE today by calling: 800-670-8931