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Monday, December 09 2013

Consumer confidence certainly seems to wax and wane in a not-totally-predictable manner. What does seem clear is that when the future is cloudy, homebuyers tend to tighten up their purse strings. It’s logical: if you can plan ahead with a greater degree of certainty, you feel better about making the kind of commitment buying an home entails.

If you plan on selling your home in Evansville this winter, you may not be able to do much about whether the economy grows or tanks, or the Federal Reserve expands or shrinks the money supply. But there IS at least one thing you can do to remove uncertainty from the minds of your prospective buyers. Just offer a home warranty!

A home warranty in is an inexpensive plan that provides coverage for items that typically fall outside a traditional home insurance plan. The major kitchen appliances are generally only covered by your home policy if they are damaged in a fire, stolen, or suffer damage resulting from some other covered peril. A home warranty provides reassurance for a much broader scope of damage and mechanical breakdown. Warrantee buyers can also opt to include other large items in the home — like the HVAC system, boilers, water softeners and water heaters.

H.U.D. points out that a home warranty is an increasingly popular inclusion because it offers protection during the period immediately following a home’s purchase — the time when most local home buyers know they will “find themselves cash-strapped.” Although payment can be monthly or annual, most home sellers choose a one-time payment option.

In an uncertain world, are homebuyers reassured when a home warranty is part of your offer? Statistics from the National Home Warranty Association provide their own reassurance: they show that including a home warranty as part of the sale can help a home sell for up to 50% faster. 

Even though a home warranty is an added expense, it’s an investment that can pay off in helping your home sell faster — possibly at a higher price, as well. Thinking of selling this winter? Call me today to discuss this and many other ways we can make it happen! You can reach me on my cell phone 812-499-9234 or email Rolando@RolandoTrentini.com

Posted by: Rolando Trentini AT 11:00 am   |  Permalink   |  0 Comments  |  Email
Friday, August 05 2011

 


The State of Indiana has imposed a state sales tax regulation for the home service contract industry.

 

As of August 1st, a 7% sales tax will be added at closing to the price of all home service contracts.

 

Please make sure that you are quoting the correct amount to your clients.  The title company must also have the correct amount of the home warranty on the HUD.

 

For pending transactions, even though the sales tax was not in effect when the contract was written, the state requires that the tax be collected at the time of closing.  Any closing after August 1st, 2011 is subject to the 7% sales tax.

 

For example:  A home warranty for $399 would have to add $27.93 (7%) for a total of $426.93.

 

This applies to all home warranty companies.

Posted by: Rolando Trentini AT 08:00 am   |  Permalink   |  0 Comments  |  Email
Wednesday, February 23 2011

Home warranties can be attractive to home owners or buyers who are looking at purchasing a property. These service contracts can cover all of a home’s major systems, such as the furnace or air conditioner, and will cover needed repairs if the appliance breaks or damaged.

Some sellers are offering a home warranty to try to lure buyers.

But not all home warranties are the same. Experts say you should carefully weigh costs, policy allowances, and customer feedback before making a decision so that you ensure you’re getting the best deal. Home warranties cost about $250 to $500 a year.

Here are some more tips from experts in shopping for a home warranty:

Find customer reviews. Web sites, such as homewarrantyreviews.com, provide reviews of home warranty companies. You also might check how each company is rated with your local Better Business Bureau.
Check for extra fees. Will you have to pay a fee for service calls?
Check the coverage allowance. Are there any exclusions to coverage? Will the allowance cover the entire cost of a broken appliance or just some of it? For example, if you have older appliances and mechanicals, will the policy cover the full cost of replacing it or just the depreciated value? If the policy only covers the depreciated value when a 20-year-old furnace dies, for example, the reimbursement may not be enough to buy a new one. Also, verify what appliances are all included in the coverage. Some companies will allow you to add coverage for swimming pools, while others won’t.

"The biggest thing is awareness of what the exclusions are," Greg McBride, a senior financial analyst at Bankrate.com, told the Chicago Tribune. "The mere presence of a warranty, by nature, tends to have exclusions. Being aware of that can aid in the decision-making process."

Source: “When Home Warranties Are Worth It,” Chicago Tribune (Feb. 8, 2011)

http://www.realtor.org/RMODaily.nsf/pages/News2011021105?OpenDocument

Posted by: Rolando Trentini AT 08:00 am   |  Permalink   |  Email
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The Trentini Team
F.C. Tucker EMGE REALTORS®
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234
Email: Rolando@RolandoTrentini.com


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