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Lee Ginsburg is an award-winning Realtor with 30 years experience in Peninsula residential real estate. With the utmost attention to detail, Lee delivers expert marketing, negotiating, and management of all financial matters. With a strong commitment to honesty, fairness and hard work, Lee has successfully helped first time home buyers, move up buyers and investors.

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Wednesday, May 25, 2011

Is a Home Warranty Beneficial?

In a Real Estate transaction quite often the buyer or seller discuss with their agent the cost, the coverage, the pros and the cons of a Home Warranty. Many people think Home Warranty is the best creation since chopped Liver. I am not a fan of the Home Warranty Companies. I have found they try to find any excuse not to pay. With a Home Warranty you must pay a service call of approximately $50.00. The cost of a home warranty from most of the major companies is about $500 with a few options. Let’s say you purchased an older home and needed service 3 times. That would be a cost of $650.00. When I have called a service technician to my home with no warranty the cost is usually $150 for a total of $450 for 3 calls vs.. the $650 with the warranty. If the buyer can negotiate for the seller to pay for it then you come out a winner but if not it is not the best financial investment although it could be very comforting. Please do not get me wrong, I have had a client get a water heater replaced so it can be beneficial.




The following article was in the San Jose Mercury News recently and I thought it had some very good ideas on the search for good Home Warranty Companies.


The following are some of the major Home Warranty Companies servicing the San Francisco Bay Area:
http://www.homewarranty.com/ http://homewarranty.ahs.com/?mp=Google&ovchn=GGL&ovcpn=Competitors&ovcrn=sr3_167478364go+fidelity+home+warranty&ovtac=PPC&SR=sr3_167478364_go&gclid=CIWgzfzVhKkCFUgaQgodqk8SoA http://home-warranty.firstam.com/?code=BM51


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