What it can do for you.
Imagine how aggravating it would be to purchase a home with undisclosed defects. Not only would you feel cheated, you’d also have a hard time running after the seller, and perhaps the broker, who has scammed you. State laws vary on restitution from such crooks – but, one thing’s for sure, it would take more of your time and money.
On the other hand, fault may not be on the part of the seller. Sometimes, inspectors inadvertently pass over some parts of the house. If you’re paying a really low fee, you should review the services they are doing. Otherwise, you’d be facing a liability limitation that would not be in your favor. And it’s not only limited to roofing, flooring, or plumbing. In most houses, appliances are included upon closing.
The most common solution is to have repairs borne by the owner. It may be expensive; but, the cost of going to court is absolutely larger. It all begins with a professional inspector’s visit to estimate the budget for the repair.
As another solution, you can eliminate this risk. Use a Home Protection Plan to protect you from undetected defects during your home purchase. Of course, coverage depends on the policy provider. While the house’s appliances have manufacturer warranties, you’re not guaranteed these haven’t expired. The covered appliance will be replaced with a fraction of the regular service fee.
Companies that offer a more comprehensive coverage can include parts of the house, like the roof and the basement, but subject to certain limitations.
Here’s one example of a Home Protection Plan:
Remember, it takes some precaution to get rid of an unwanted headache.