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Home Warranty

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BUSINESS
By James M. Woodard and James M. Woodard,Copley News Service | April 18, 1993
Sales of warranty plans for homes being resold are picking u dramatically throughout the country."At least 75 percent of homes we sell are covered by a home protection plan," said Nancy Amorteguy, a branch manager for Coldwell Banker Residential Real Estate Services."
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BUSINESS
By Nancy Jones Bonbrest and Nancy Jones Bonbrest,Special to The Baltimore Sun | January 25, 2009
When Wayne Williams listed his Carney home for sale last summer, he decided to add a home warranty plan as an incentive to prospective buyers. Although he had maintained the house well during his 26 years of ownership, it still had the original furnace and heat pump. Williams knew a home warranty would not only elevate the house in a tough real estate market, but would protect the buyers during the first year. The warranty also shielded Williams from covered repairs during the listing period.
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BUSINESS
By Dean Uhler | April 29, 2001
Jocelyn Jones of Columbia asked whether it is more advisable to renew a home warranty, at a cost of about $400, or to purchase separate contracts with service providers that would, in some cases, include annual inspection. Home warranties are obtained by some homebuyers as protection against the cost of unexpected repair or replacement of major appliances in the first year of home ownership. Policies often can be renewed for additional years. I would definitely consider obtaining or renewing a home warranty policy if one or more appliances covered by the warranty had reached or exceeded their expected life.
BUSINESS
By Dean Uhler | April 29, 2001
Jocelyn Jones of Columbia asked whether it is more advisable to renew a home warranty, at a cost of about $400, or to purchase separate contracts with service providers that would, in some cases, include annual inspection. Home warranties are obtained by some homebuyers as protection against the cost of unexpected repair or replacement of major appliances in the first year of home ownership. Policies often can be renewed for additional years. I would definitely consider obtaining or renewing a home warranty policy if one or more appliances covered by the warranty had reached or exceeded their expected life.
BUSINESS
By James M. Woodard and James M. Woodard,Copley News Service | March 15, 1992
Are home warranties important?Haven Burke, a regional president of First National Realty, thinks so. "Without home warranty coverage after the sale of a previously owned residence, the seller and his agent are just standing there in their shorts -- a vulnerable target for after-sale problems," he says.A typical home protection plan covers costs of repairing or replacing "working parts" of a home -- the mechanical, non-structural systems and components.The plumbing, electrical and heating systems are normally included in the coverage.
BUSINESS
By James M. Woodard and James M. Woodard,Copley News Service | April 14, 1991
Home sales activity is picking up in markets throughout the country. But buyers are still bargaining hard for the best possible deal -- including home warranty coverage.A home warranty protection plan is becoming increasingly common, according to a recent survey conducted by the Gallup Organization Inc. Nationally, 16.5 percent of sales last year included warranty coverage for a specified period after the sale (usually one year).A home warranty plan typically covers the electrical and mechanical elements in a residential property.
BUSINESS
By Nancy Jones Bonbrest and Nancy Jones Bonbrest,Special to The Baltimore Sun | January 25, 2009
When Wayne Williams listed his Carney home for sale last summer, he decided to add a home warranty plan as an incentive to prospective buyers. Although he had maintained the house well during his 26 years of ownership, it still had the original furnace and heat pump. Williams knew a home warranty would not only elevate the house in a tough real estate market, but would protect the buyers during the first year. The warranty also shielded Williams from covered repairs during the listing period.
BUSINESS
December 31, 2000
Dear Mr. Azrael: My wife and I bought a house in August 1996. In early 2000, we noticed our floor next to the front door was rotting away. Then we noticed the bottom metal part of the door also was sinking. I went to the basement to check for water damage. I observed that about 9 inches of the floor was rotten. I called the builder to complain about the front door leaking and they said that it was over a year and that they wouldn't do anything for us. I called the home warranty [company]
BUSINESS
January 7, 2001
Dear Mr. Azrael: I read your column about new home defects, and I've followed your advice, but I'm at an impasse. The background: I moved into a new townhouse in June 1999. I was not given a walk-through by the builder. As problems were discovered, I began a list. I gave this list, and periodically spoke, to the general contractor (who lives near my home) about the problems. The contractor sent a handyman (one time) to fix some of the smaller problems, but not the major one, a leaky basement.
BUSINESS
By JONATHAN A. AZRAEL | July 23, 2000
Dear Mr. Azrael: We purchased a new home on July 7, 1999, from [a Severna Park builder]. As of today, one year later, our walk-through work still has not been completed, even after numerous calls and registered letters to the builder. But to make matters worse, we do not have a home warranty. It was not paid for by the builder at settlement, even though it appears on our settlement papers, which states it was paid POC [paid out of contract]. After numerous calls to both the builder and title company, he finally did pay for the home warranty this past May, but no warranty was issued by the Home Buy- ers Warranty Co. because he paid it almost a year late and the house was never inspected by them.
BUSINESS
January 7, 2001
Dear Mr. Azrael: I read your column about new home defects, and I've followed your advice, but I'm at an impasse. The background: I moved into a new townhouse in June 1999. I was not given a walk-through by the builder. As problems were discovered, I began a list. I gave this list, and periodically spoke, to the general contractor (who lives near my home) about the problems. The contractor sent a handyman (one time) to fix some of the smaller problems, but not the major one, a leaky basement.
BUSINESS
December 31, 2000
Dear Mr. Azrael: My wife and I bought a house in August 1996. In early 2000, we noticed our floor next to the front door was rotting away. Then we noticed the bottom metal part of the door also was sinking. I went to the basement to check for water damage. I observed that about 9 inches of the floor was rotten. I called the builder to complain about the front door leaking and they said that it was over a year and that they wouldn't do anything for us. I called the home warranty [company]
BUSINESS
August 20, 2000
Dear Mr. Azrael: I am hoping you can help me with my dilemma. I signed a contract with [a builder in June] to purchase a townhouse. We gave a $1,000 deposit and met with a lender to begin the loan process. Here is the issue: During our weekly "ride by" of the property, which is just beginning to break ground, we noticed signs posted by the other homeowners in the community. We stopped and asked some of our future neighbors, who informed us they would not recommend purchasing a home from this particular builder.
BUSINESS
By JONATHAN A. AZRAEL | July 23, 2000
Dear Mr. Azrael: We purchased a new home on July 7, 1999, from [a Severna Park builder]. As of today, one year later, our walk-through work still has not been completed, even after numerous calls and registered letters to the builder. But to make matters worse, we do not have a home warranty. It was not paid for by the builder at settlement, even though it appears on our settlement papers, which states it was paid POC [paid out of contract]. After numerous calls to both the builder and title company, he finally did pay for the home warranty this past May, but no warranty was issued by the Home Buy- ers Warranty Co. because he paid it almost a year late and the house was never inspected by them.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | November 17, 1996
Prompted by consumer complaints against homebuilders, members of the House Economic Matters Committee hope to strengthen home warranty protections during next year's legislative session, the head of a subcommittee on home construction said last week.The subcommittee led by Del. A. Wade Kach, a Cockeysville Republican, also is reviewing whether builders, like home improvement contractors, should be licensed in Maryland. Currently, no state agency regulates homebuilders, who are not licensed or bonded.
BUSINESS
By Adriane B. Miller and Adriane B. Miller,Special to The Sun | November 13, 1994
For years, buyers have cried foul when they pay $175 or so for a pre-purchase home inspection, only to have the seller back out of the deal or have their funding denied.HMS of the Mid-Atlantic States, a home warranty company that recently started offering inspections, says that if it inspects a home at the buyer's expense and the sale later falls through for any reason, that HMS will inspect the buyer's next potential purchase for free.VTC HMS, based in Fairfax, Va., said it is the first company in the region to offer such an inspection policy.
BUSINESS
By James M. Woodard and James M. Woodard,Copley News Service | October 17, 1993
After digging up enough cash to handle the down payment and numerous closing costs, the least favorite thing for a homebuyer to face is unexpected repair costs for a zapped water heater or built-in appliances.That's one of the key motivators for buying a home protection (warranty) plan for previously owned homes being offered for sale. The coverage benefits the home seller, buyer and broker.Typically, a home protection plan, purchased by the seller or buyer, covers the mechanical systems in a home for one year after a sale.
BUSINESS
August 15, 1993
Book on refinancing recommendedQ: What's a good source of information about refinancing a home mortgage loan?A: The best I've seen is a 140-page book by Jack Friedman, titled "Keys to Mortgage Financing and Refinancing."The book explains how to shop for a new mortgage, refinance an existing loan and avoid pitfalls. In addition to being a basic how-to book on conventional mortgages, it covers second mortgages and mortgage-related tax considerations. For information, write: Jack Friedman, 15851 Dallas Parkway, Suite 600, Dallas, Texas 75248.
BUSINESS
By JoAnne C. Broadwater and JoAnne C. Broadwater,Special to The Sun | July 17, 1994
When Bob and Sarah Patterson signed a contract to put their family's Hamilton-area Cape Cod on the market March 1, they also agreed to purchase a home warranty that their real estate agent told them could help attract a buyer.The couple spent several hundred dollars for insurance to pay for repairs on the major systems and appliances in their house for one year after they sold it."We definitely wanted to move and if anything would make the house move faster we were going to do it," she said.
BUSINESS
By James M. Woodard and James M. Woodard,Copley News Service | October 17, 1993
After digging up enough cash to handle the down payment and numerous closing costs, the least favorite thing for a homebuyer to face is unexpected repair costs for a zapped water heater or built-in appliances.That's one of the key motivators for buying a home protection (warranty) plan for previously owned homes being offered for sale. The coverage benefits the home seller, buyer and broker.Typically, a home protection plan, purchased by the seller or buyer, covers the mechanical systems in a home for one year after a sale.
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