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Warm a buyer’s post-inspection cold feet with this inexpensive solution.

Thursday, October 29, 2020   /   by Vanessa Saunders

Warm a buyer’s post-inspection cold feet with this inexpensive solution.

[caption id="attachment_28399" align="alignright" width="768"]

This ancient home boiler is enough to scare off the bravest buyer.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.


[caption id="attachment_28399" align="alignright" width="768"] This ancient home boiler is enough to scare off the heartiest buyer.[/caption]


By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.


A home inspection is one of the last hurdles that buyers and sellers have to get through before a property in New York goes to contract.  It’s also one of the most important. The inspection is a buyer’s final chance to identify any problems with the home that they’re investing in, including areas that are in need of repair. 


Under New York state law, a seller is obligated to pay for certain repairs after a home inspection. Even if the property was listed “As IS” Sellers are required to fix such things as mold, insect infestations and foundation issues among others. For most mechanical systems, it's up to the negotiations between the buyer and seller. Who pays for what depends on post-inspection negotiations. 


If a buyer is nervous about the systems in the home that passed inspection but may cause problems in the future, resolving those concerns can be a problem for the seller. For example, maybe the old boiler-style hot water heating system works, but is inefficient, or appears to be on its last legs. Or a kitchen appliance looks like it hasn't been well maintained or needs repair work. These objections may be valid enough to put a buyer off the deal, even as the seller insists "It's worked just fine for us!"


A good solution for this dilemma is often for the seller to buy a Home Warranty plan that will cover a variety of potential problems. Standard home warranty plans may include coverage of all the parts and components of the home's electrical, plumbing, heating and air conditioning systems as well as many other home appliances. Home owners can also customize their plan as necessary. In addition to basic items in the home, the plan can add coverage for items such as a well pump, a stand-alone freezer or even a pool or spa.


How Much Does a Home Warranty Cost?


Home warranty costs vary depending on the number of appliances or systems you want to cover, the size of your property and other factors. The average basic home warranty prices range from $450 to $600 per year and extended coverages add $100 to $500 to that yearly figure. Each repair has a service fee that usually ranges from $50 to $100 per visit. If you haven’t priced appliances recently, even something simple like a dishwasher can cost $500 or more. 


Plus, what many buyers and sellers don’t realize is that most Home Warranties transfer to the new buyer at the closing table. That way, both buyers and sellers can rest easier knowing that if any covered home systems or appliances break down or malfunction after closing, the repairs and replacements are covered.


Do you have questions about selling your Hudson Valley home? CONTACT US at Global Property Systems.


Do you have questions about selling your Hudson Valley home? CONTACT US at Global Property Systems.


  hudson valley real estate, hudson valley property, hudson valley home, buying a home, 'urb to 'burb, hudson valley home owners, hudson valley home sellers, housing sales, selling your home, sales strategies, making an offer on a house, home inspections, ny, negotiating price

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

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