Can you attach a home warranty after closing?
Closings are moving at breakneck speeds. Occasionally, time constraints prevent agents from doing everything they wanted to do to help Buyers during and after the sale. A good example of this is the attachment of a Home Warranty Service Agreement (i.e., home warranty). Fortunately, there’s good news about how you can help your clients, even after closing.
So, CAN you attach a home warranty after closing?
For up to 30 days after closing, you can attach a service agreement from 2-10 Home Buyers Warranty (2-10 HBW).
Why does that matter to agents?
A home warranty can be an excellent tool for helping your Buyers stand out. But if you win the home without attaching one (congratulations by the way!), you can still provide added value by attaching one after closing. Here’s how.
A home warranty can protect your Buyers’ budgets when they need it most
If your Buyers are like many others, they’ll likely have to pay more than they expect to win a home. That could leave them with less money to address breakdowns to major systems—like their air conditioner or furnace—and appliances like their fridge.
When you attach a home warranty after closing, you can help them reduce those costs and the frustration that goes along with breakdowns.
When something major breaks down, it can costs hundreds or thousands of dollars to repair or replace—often up front and out of pocket. That could prove challenging for Buyers who’ve likely just paid a big chunk of their nest egg toward a down payment.
A home warranty can help them reduce those upfront costs. It can also better position them to lower the overall cost of home ownership. When you provide them with something that helps them save money, it can go a long way in creating an even more fulfilling experience with you.
It can help address a huge pain point among Buyers
You may know that millennials are the largest share of Buyers on the market. But did you know that nearly two-thirds of millennials regret buying? And one of the biggest regrets they have is that maintenance and other costs are too high.
Attaching a home warranty after closing can help address some of that pain.
That’s because it covers breakdowns caused by routine wear and tear. As long as your Buyers are using their systems and appliances properly, a home warranty can be a maintenance safety net.
They’ll still be responsible for caring for covered items. However, should one of those covered items break down anyway, 2-10 HBW can help reduce the costs to address it.
This can help you approach one of the biggest causes of Buyer regret, which can enhance your relationship further.
It can make you look like a homeowner’s hero
You want your Buyers to tell everyone how great you are (because you really are great!). This is especially true in such a heavy Seller’s market.
A home warranty can contribute to those conversations.
Consider this: For many first-time Buyers, their agent is the first person they call when they have questions or concerns. While there’s little doubt you’re always aiming to help, reducing those kinds of calls can be helpful to everyone.
When you attach a home warranty after closing, you can leverage 2-10 HBW as their point of contact for covered breakdowns. We offer self-service options online in addition to our helpful customer service teams.
Giving your Buyers a clearer answer to what can seem like a catastrophe can position you as a hero to homeowners. This can improve your relationships and perhaps make it more likely for them to refer you.
2-10 HBW offers comprehensive systems and appliances home warranties to help protect your clients from unexpected repair and replacement costs. Contact us to learn more.