Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png Is Offering a Home Warranty to a Buyer Worth It? – Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com 32 32 June Home Maintenance Checklist: 40+ Must-Do Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May Home Maintenance Checklist: 30 Essential Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> April Home Maintenance Checklist: How To Prepare Your Rochester NY Home For Spring https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> March Home Maintenance Checklist: Get Your New York Home Ready for Spring https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Buy a House in New York https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Sell a House in New York https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Risks of Buying a Non-Warrantable Condo In New York: What You Need to Know https://www.rochesterrealestateblog.com/non-warrantable-condo/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Builders Should Know About Spec Construction Loans In New York https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving To The Finger Lakes Region Of New York | Guide To Relocating To The Finger Lakes https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Navigating the Numbers: The Pros and Cons of Using Online Home Value Estimators For New York Real Estate https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Role of Location in Home Valuation In New York https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Lowe’s vs U-Haul: A Review of Truck Rental Companies https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Understanding the Importance of a Seller’s Property Condition Disclosure https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What are Delayed Showings and Negotiations in Real Estate In New York? https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 8 Viable Tactics to Selling Your Home and Moving Out of State https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Unconventional Methods for Selling a House: Thinking Outside the Box https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Sell My House Off Market: Pros and Cons Explained https://www.rochesterrealestateblog.com/sell-house-off-market/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What is PITI and How Does It Affect Your Mortgage https://www.rochesterrealestateblog.com/what-is-piti/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Set A Home Renovation Budget https://www.rochesterrealestateblog.com/home-renovation-budget/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Co-Borrowers Credit Scores Affect A Home Purchase? https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> New Construction Final Walk-Through Checklist: Ensuring a Seamless Home Inspection https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Essential Tips for Pumping a Septic Tank: What You Need to Know https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Get Your Home Photo Ready for Real Estate Listings https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Home Builder’s Warranty Cover? https://www.rochesterrealestateblog.com/home-builders-warranty/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> July 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Who Pays Real Estate Commission When You Buy or Sell a Home https://www.rochesterrealestateblog.com/real-estate-commission/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Quitclaim Deeds: What You Need to Know https://www.rochesterrealestateblog.com/quitclaim-deeds/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Selling a Home As Is for Cash https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Know if My House Has Paranormal Activity https://www.rochesterrealestateblog.com/is-my-house-haunted/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Why Find The History of a House https://www.rochesterrealestateblog.com/find-history-house/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> June 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Real Estate Lawyer Do? https://www.rochesterrealestateblog.com/real-estate-lawyer/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Buying a Home For The First Time https://www.rochesterrealestateblog.com/buying-home-first-time/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>What Should a Buyer Look For at a Home Inspection?</strong> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Companies That Buy Houses For Cash Reviewed https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Does Home Staging Work and What is The Cost? https://www.rochesterrealestateblog.com/does-home-staging-work/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Avoid When Getting a Mortgage https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>5 Options For Replacing a Roof Reviewed</strong> https://www.rochesterrealestateblog.com/replacing-roof/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are Restrictive Covenants in Real Estate? https://www.rochesterrealestateblog.com/restrictive-covenants/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can The Court Force The Sale of Your House in Divorce? https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Real Estate Agent vs. Broker: What&#8217;s The Difference? https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Determine Square Feet In Your House For More Accurate Property Estimates https://www.rochesterrealestateblog.com/determine-square-feet/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 3 Things That Often Results in a Real Estate Agent Getting Sued https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Top 5 Types Of Home Inspections Buyers Should Consider https://www.rochesterrealestateblog.com/5-types-home-inspections/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Pros And Cons Of Rent To Own Homes: What You Need To Know https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Smart Things To Do Before Moving That Will Help Ease Your Transition https://www.rochesterrealestateblog.com/things-before-moving/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Become a Real Estate Agent https://www.rochesterrealestateblog.com/become-real-estate-agent/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Renting A House Or An Apartment: Which Is The Better Option https://www.rochesterrealestateblog.com/renting-house-apartment/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The 5 Most Important Factors To Consider When Buying A House https://www.rochesterrealestateblog.com/5-factors-buying-house/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Buyers And Sellers Need To Know About An Appraisal Gap https://www.rochesterrealestateblog.com/appraisal-gap/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Pros And Cons Of Renting With Roommates – What You Need To Know https://www.rochesterrealestateblog.com/renting-with-roommates/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 6 Things You Should Know About Buying Land https://www.rochesterrealestateblog.com/things-know-buying-land/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Long Should Home Sellers Wait To Respond To An Offer On Their Home? https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Buy A House With A Low Credit Score https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Things To Consider When Shipping A Car https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Home Depot Truck Rentals: What to Know Including Pricing https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 16 Things To Do Before Listing Your Home For Sale https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Home Inspection Mistakes to Avoid https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Your Credit Score Impacts Your Ability To Buy A House https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Selling Mistakes | 7 Errors Made While Selling A House During The Winter https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Buying Mistakes | 11 Errors Made While Buying A House During The Winter https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Address Change Form Should I Use At The Post Office? https://www.rochesterrealestateblog.com/address-change-form-post-office/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does Contingent Status Mean in Real Estate? https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> DIY Renovation Ideas For Your Backyard https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Rent Your First Apartment Guide https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Tips For Selling A Home Virtually https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Complete Winter Storage Checklist For Your Belongings https://www.rochesterrealestateblog.com/winter-storage-checklist/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Waive My Home Inspection When Buying A House? https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Self Storage Companies Reviewed https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Earnest Money and House Deposits Explained https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving Mistakes To Avoid https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Mortgage Myths | Demystifying Common Home Loan Misconceptions https://www.rochesterrealestateblog.com/top-mortgage-myths/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First-Time Home Buyer Mistakes to Avoid https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 10 Tips For Adding Appeal To Your Home This Summer https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Exploring The Merits of Smart Home Technology When Selling a Home https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Frequently Asked Questions From Home Sellers https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First Time Home Buyer Programs In Rochester NY &#8211; Updated January 2025 https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How New Doors &#038; Windows Can Boost Your Home Value https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 5 Things To Know When Flipping Your First House https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The Best Mortgage Options for Self Employed Borrowers? https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 10 Best Places To See Christmas Lights In Rochester NY https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The PROs And CONs Of Multifamily Homes? https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Low-Cost Home Improvements Should You Make Before Selling Your Home? https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 15 Things Millennial Home Buyers Look At While Buying A House https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Fence Increase The Value Of Your Home https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Simple &#038; Low Cost Fixes To Make Your Home More Appealing To Buyers https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Improve A Homes Curb Appeal In Rochester NY https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 7 Ways to Create an Energy-Efficient Home While Conserving Your Budget https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Hiring Movers Vs. Moving Yourself | The PROs &#038; CONs Of Each https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should You Pay Off Student Loans Before Purchasing a Home? https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Build A New Home Or Buy An Existing Home? https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Buying A Condo Vs. Renting A Condo | What Are The PROs &#038; CONs? https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 9 Money Saving Moving Tips | How To Cut Costs When Moving https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Create a Proper Home Maintenance Checklist https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Tips For Tenant Screening | How To Weed Out Bad Tenant Applicants https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Social Media Blogs For Real Estate From 2017 https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Home Improvement Blogs From 2017 | Advice For Home Remodeling https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Mortgage Blogs From 2017 | Advice For Home Financing https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Tue, 02 Sep 2014 11:00:56 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 Is Offering a Home Warranty to a Buyer Worth It?[/caption] When purchasing something, most of the time there is a warranty that is offered.  Depending on the item that is being purchased, some warranties will be part of the manufacturers guarantee and others will be warranties that can be purchased by the consumer.  In some cases, purchasing a warranty makes absolutely no sense and in other cases, it makes perfect sense! A large purchase, such as a car or an expensive piece of jewelry, normally comes with a manufacturers warranty for a short amount of time.  A longer "extended" warranty is normally offered for purchase as well and in these situations, it normally makes sense. How about in the case of a home, are warranties worth it?  Should a seller offer a home warranty to the buyer of their home?  In most cases, the answer is yes!  A home warranty can make a huge difference in the sale of a home. Here are some reasons why offering a home warranty can be beneficial and also some things to look out for when selecting a home warranty. Protects the Seller Selling a home can be a stressful time for many sellers.  There are often things that need to get done to prepare a home to get it "market ready," prepare a home for showings, and also prepare mentally for the change that is forthcoming. This sounds stressful enough, right?  How about the homeowner whose furnace stops working in the middle of the winter while their home is listed!  The added stress of having to purchase a brand new furnace, which can range from $2,000-$4,000, can have a homeowner in complete panic mode.  Would a seller purchase and install a brand new furnace if they were selling their home?  Likely not!  If a seller purchases a home warranty, in most cases, they are covered for the heating systems of the property.  So, instead of having to shell out $2,000+ dollars, a seller may only have to pay a small "trade fee" or "deductible" of a $100.00, which is a huge difference! Home warranties typically are effective from the listing date and cover the seller for the listing period, usually up to 365 days.  The 365 days the warranty covers a seller for is not something a seller wants to even think about!  A home that is listed for 365 days and has likely expired several times needs to be reevaluated by a great real estate professional to find out why it is not selling. Every home warranty will provide the seller coverage on different items within a home.  The majority of home warranties cover the seller on the "major components" or "big ticket items" of a home.  This includes items such as the heating systems, electrical wiring, water heaters, and circuit breakers.  These big ticket items, like a furnace mentioned above, can cost a seller $1,000's in replacement costs should they need repair or replacement. [caption id="attachment_1420" align="aligncenter" width="450"]Home Warranties help market a home and often help sell faster and for more money! Home Warranties help market a home and often help sell faster and for more money![/caption] Marketing the Home When it comes to marketing a home, there are many things that should be done by a real estate agent to ensure their clients are receiving the most amount of money for their home in the shortest amount of time.  The most important marketing "tool" an agent should use is recommending a realistic listing price for their seller's home!  This is the most important tool for a real estate agent because the price of a home does the majority of the marketing.  If a home is overpriced, it will not sell, period!  A great real estate agent should determine a realistic listing price of a potential clients home by performing an in-depth comparative market analysis. Now that the price is right, does a home warranty help sell a home?  Yes it can help!  Buyers have the ability to purchase a home warranty if it is not provided by the seller.  There are certainly many buyers out there who do purchase one, prior to closing.  A seller who provides a home warranty to the buyer often is giving themselves a competitive advantage.  If a buyer is considering two properties that are very similar in price, condition, and location, a seller who is providing a home warranty can often "tip the scale" in the favor of the homeowner who is providing it!  Statistically, homes for sale that offer a home warranty sell in a shorter amount of time and for more money because of it. It is important that the real estate agent knows how to use the home warranty as a marketing tool and also have a strong understanding about the warranty and how it works!  There are many real estate agents who don't even suggest or offer a home warranty to their sellers.  A real estate agent who doesn't explain, suggest, and offer a home warranty is truly doing their seller a disservice as it can be a very useful marketing tool when selling a home! [caption id="attachment_1418" align="aligncenter" width="347"]Home Warranties Provide Buyers with Additional Peace of Mind Home Warranties Provide Buyers with Additional Peace of Mind[/caption] Buyer's "Peace of Mind" Buying a home can be a nerve racking time.  There are many costs associated with buying a home, many of which the buyer is unaware of until they start the process.  Some buyers use all or almost all of their money to purchase a home.  What happens when a buyer closes on their home and they need to install a new air conditioning unit and don't have the money?  It's likely either the new air conditioning unit doesn't get installed or they have to charge it to a credit card, accumulating more debts.  If a seller provides a home warranty to potential buyers, it often gives additional "peace of mind." In the case a buyer needing a new air conditioning unit, furnace, or hot water heater and having a home warranty, they would only have to pay the minimal "trade fee" or "deductible."  Most home warranties provide a buyer a full year of coverage from the closing date with the option to extend the warranty for additional years.  Home warranties cover the buyer on many of the same items that the seller is covered on during the listing period or the 365 day time period.  Many warranties provide buyers coverage on more items than the seller, such as roof leaks.  A home warranty can give a potential buyer the feeling they are receiving a "guarantee" on the major components of the home they are purchasing. When & How Much You Pay Knowing when and how much you pay is an extremely important thing to consider when purchasing or not purchasing a home warranty.  There are many companies out there that offer seller coverage complimentary.  The payment for warranties that offer complimentary seller coverage are due at the time of closing.  This means if a seller's home does not sell, they do not have to pay the warranty. Like most warranties, the cost varies depending on the amount of coverage.  With home warranties the cost can also vary depending on the number of units (single-family vs. multi-family), the type of residence (Condo/Town-home vs single-family), and also any additional coverage options.  Most home warranties offer additional coverage for items such as pools, spas, septic systems, and other miscellaneous items.  Generally, the cost of a warranty for a single family home will range between $400-$600 for a full years coverage from time of closing.  The cost of a warranty for a multi-family generally ranges between $800-$2,000 dependent on the number of units. What Restrictions Apply Before agreeing to anything in life, always read the fine print!  Whether it is an extended warranty for a car, a warranty for an appliance, or a home warranty, it is important to understand what restrictions may be involved and what limitations may exist.  Every home warranty is going to have restrictions to the type of items that are covered and usually have a maximum dollar amount that is covered.  For example, a heating system such as a coal or wood burner maybe excluded from coverage, so it is important to read the fine print and understand exactly what is covered and what is not! Does the Warranty Company have a Good Reputation Any warranty is only as good as the company that stands behind it!  It's a good idea to research and learn about the company providing the home warranty.  Do they have a good track record?  What is their rating with the Better Business Bureau(BBB)?  Do they have online reviews?  Before purchasing a home warranty, research the company and feel free to ask for an individual who has used their service in the past.  Just like it's recommended to ask a real estate agent questions before hiring them to sell a home, it's important to ask the questions of the warranty company as well. As indicated above, a home warranty is a good thing to offer when selling a home, for the most part.  Selecting a reputable warranty company, hiring the right real estate agent who can market the warranty, and paying the right price for the warranty will make the decision to provide a home warranty a smart one in the end! Other Home Selling & Warranty Resources There are many real estate agents, buyers, and sellers who have their own thoughts on home warranties, but we feel they are a great thing to offer!  The majority of our seller's also believe they are a great thing to offer, once they fully understand the purpose and power that offering a home warranty can provide.  Are you unsure whether or not a home warranty would be a good thing to offer when selling your home?  Contact us, we'd love to evaluate whether or not a home warranty would be worth offering to potential buyers of your home!
About the authors:  The above article "Is Offering a Home Warranty to a Buyer Worth It?" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]>