Well, policies vary from plan to plan, but most home warranty plans are transferable. Most home sellers or real estate agents buy a home warranty plan for their new buyers. Once a buyer buys their property, the sailor transfers the home warranty insurance to that buyer. Policies may differ from plan to plan, but generally yes, home guarantees are transferable service agreements.
It's incredibly common for a real estate agent or home seller to purchase a home warranty policy with the intention of later transferring it to new homebuyers. Home warranty coverage can protect sellers, buyers and real estate agents throughout the home sale process. Once the sale is closed, converting seller coverage to buyer coverage is an easy and efficient way for real estate agents to protect their customers. Today we'll discuss why it's important to convert the seller's home warranty coverage into the buyer's home warranty coverage.
We'll also look at how real estate agents can easily convert it. Warranties are granted to the original owner, at the time of installation, of the structure where the materials were originally installed. Warranties are not transferable or attributable after one year from the date of installation. The original owner can transfer the warranty to a new owner within one year after installation.
In the case of a builder and a new construction, the builder can sell the home within one year of installation and the warranty will be transferred to the new buyer. How do you transfer a home warranty to a new owner? Well, all home warranty companies are different, but usually all that's needed is a phone call. Some home guarantees may also charge a minimum transfer fee. When you sell your home, all you have to do is call the home warranty company and let them know who the new owner of the house is, and the home warranty will become yours.
You can generally transfer your home warranty policy simply by calling the customer's representatives. However, some companies may have different procedures for transferring a warranty. To make sure you don't have problems changing your coverage, we've listed what the major companies say about transfers. The following tips will help you understand how transferring your home warranty policy can benefit you.
Select Home Warranty (SHW): Customers using SHW services should call 855-267-3532 if they want to transfer their coverage. If you're looking to sell your property or move to a new home and are wondering if you can transfer your home warranty plan, you've come to the right page. The process of transferring your home warranty contract is quite simple, but it can work in different ways. There are several tips to consider when choosing to transfer your home warranty package.
Sometimes, companies offer free coverage to publish ads, but this is usually because the home warranty can be transferred to a new owner during the closing. Also, find out if interstate transfers apply under your home guarantee policy (if you move out of state). We'll also walk you through all the intricate details you need to know to accelerate the transfer of your home warranty.