That and bullet proof best. Many of these homes are recondition by the listing agent and there is not tell what could be wrong. Do your inspecions as to avoid future problems.
Lupe Medina/Realtor
RE/MAX Metro REalty

That is up to buyer however compare policy if home has been inspected you have a published report what needs repaired.

National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911

Yes, make sure that you cover everything A/C Roof, etc; these have to be add-ons to the regular warranty! If the bank won't pay for the extras, you can, but try to get them to. It will save you money later to pay if you have to.

Dear Yib,

Yes! In fact, in all of the REO transactions I have worked on, I have made sure to include, in my offers, a seller-purchased warranty plan for the first year. This way, you can have just that much more peace of mind. While REOs are sold "AS IS," there are several good reasons to include a warranty plan for things you may not be able to determine the quality of during an inspection or walk through.

For more information, please feel free to contact us so that we can discuss the advantages of getting a warranty plan with you!

Hello: The answer is Yes, Why? In a regular home sale the homeowner must disclose to the buyer any known defects or issues which could be material facts that would influence your decision to buy the home.

Since the bank has never resided in the home they are selling, they are, for the most part, not required to disclose any defects which may be associated with the home, well at least here in Orange/Los Angeles County-California, but they still must provide you the mandatory disclosures.

By purchasing a "Home Warranty Program" you are helping yourself in minimizing out of pocket expenses which may develop within your first year of home ownership. So for a flat fee and depending on which warranty coverage you select, you really have purchased a very cheap insurance policy for your home based on cost.

Good luck and always ask your community for advice so that you can avoid pit falls in the long run.

Yes. Just make sure you have the optional coverages for A/C, Roof, etc... The basic plans to don't cover some of those things. Also, make sure that your plan covers preexisting defects and defects caused from deferred maintenance. You can ask your agent about this and he can tell you who to contact at a home warranty company.

Hope this helps.
AZ

Hi YLB. It is a good idea on any home really.


Kind Regards
Michael Barron
Realtor/MBA
REO Specialist
First Team Real Estate

Ylb,

Many people are happy with their choice of obtaining a home warranty. There are a number of products currently on the market both of a national and local variety. Our recommendation is to carefully consider the coverage that each provides and the amount of your deductable.

These programs are providing the same service as any insurance company.....when needed, most are relieved they made the decision to purchase this coverage.

Good luck
The Eckelr Team

Absolutely!! It is basically cheap insurance on the working parts of your home and if something breaks down, you have just saved yourself real dollars. If you can continue after the first year, do it!! It is well worth the cost.

The simple answer is YES. IT will be the best insurance you can buy - and keep it up in following years as well. If you are being represented by the Brokerage who also Listed the property it would be a good idea to ask the Broker to pay for it. Most Broker E&O (Errors and Omissions) policies require a Home Warranty be provided if they "double-end" a transaction.

Best of luck,

Thom Colby
Broker & REALTOR
Orange County, CA

I am in favor of them. They are not expensive and they cover some of the common problems that might arise within the first year of home ownership

It is always advisable to purchase a home warranty, especially when purchasing an as-is property. This will cover air,heat, dishwasher(if it is still there) some plumbing, microwave, etc. If there is a pool/spa, ask for the pool/spa add on and air. You can also add roof coverage as well. I usually pay for it for my buyers if the seller won't pay, and usually the REO's or short sale sellers will not pay. Good luck and make sure to add the extras.
Sally Picciuto

It is always wise to buy a Home Warranty ... no matter if it's a foreclosure or not. For about $450 it is worth the added assurance that if anything does go wrong, you will have some coverage. I always recommend that my buyers ask for a Home Warranty when making an offer. The Seller is usually more than happy to provide one.

Good Luck!

It is wise to buy a Home Warranty even if it is not a foreclosure and especially if it is! Also, make sure that you include the necessary "add-ons" as some basic pricing does not cover washer, dryer and pool equipment.

I would recommend anyone purchasing a home to buy a home warranty; it could save you money in the long run.

I would say it is. Keep in mind that they will have an idea of what's wrong with the home and won't cover pre-existing conditions, but it's always safe and wise to have