Home Buying in Fullerton>Question Details

Momof4, Home Buyer in Phoenix, AZ

i am buying a short sale home is it ok to ask that the seller pay for a home warranty plan

Asked by Momof4, Phoenix, AZ Sun Mar 13, 2011

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5
What is your agent advising...keep in mind that if the seller is conducting a short sale, he/she may not have extra money, but you can try asking; to consider, since it's up to the lender to decide to accept, reject or counter offer, not sure the lender would be willing to grant a warranty plan if included in your contract, as short sales are sold as is.
1 vote Thank Flag Link Sun Mar 13, 2011
It is definitely okay to ask for a home warranty plan. I have been seeing banks agree to more buyers' requests lately. Of course, the bank will have the final decision. However, if the bank does not agree to it, it is still a good idea for you to purchase a plan. It not only alleviates a lot of stress, but helps you out if something, indeed, does happen.
0 votes Thank Flag Link Fri Jun 3, 2011
Momof 4,

Absolutely...but understand that all these costs come out of the proceeds paid to the bank and not the seller themselves. So the bank might turn it town. I've seen it both ways...but either way, make sure you get one, especially if you are buying the home as-is so you can protect yourself against unexpected repairs.

Karen
0 votes Thank Flag Link Sun Mar 13, 2011
I have had one time where the bank did purchase the warranty, but most won't. You can buy it even if they won't. Note another question in the forum where the owners took all the appliances, including the dishwasher when they left. Make sure you have everything included in your contract.
0 votes Thank Flag Link Sun Mar 13, 2011
You can ask for anything. However; if the bank will not agree to it with the negotiated price then the chances are the seller si not goign to pay for it out of their pocket. the reason the home is in a short sale is becuase the seller owes more than the home is worth. In lieu fo lettign the home fall into foreclosure the seller is trying to sell the house for less than they owe. it is ultimately up to the bank to decide whether they want to accept the price on the house.
in my dealings with a short sale the bank has NEVER agreed to pay for a home warranty. But you never know and i would at least ask and let the bank make the descison if the price warrants it or not.
Web Reference: http://www.davedicecco.com
0 votes Thank Flag Link Sun Mar 13, 2011
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