Listing agents (representing home sellers) are big fans of home warranties. Personally, I love them. Test your knowledge of residential real estate today, and see if you know why: A. Realtors don’t pay the premium (Sellers typically do). B. Realtors get a commission for each home warranty policy they sell. C. Listing agents know that...Read More
Target Market: Realtors “Get Met. It Pays.” –Advertising slogan of the Metropolitan Life Insurance Company. It turns out that companies selling home warranties — increasingly, a feature of many home sales — market their policies the same way other insurance companies do. Namely, by touting how many claims they pay. The difference is that the...Read More
“Force Majeure” Clauses [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] RISK OF LOSS: If there is any loss or damage to the Property between the Final Acceptance Date...Read More
Two Risks, Not One [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you need legal advice, please consult an attorney.] If Buyers can waive a home inspection altogether (they can), it stands to reason they can get...Read More
“Live and Learn” Dept. For about a decade, my family has been paying for a deluxe home warranty covering our HVAC, all appliances, and even our main sewer connection. Also included: our backup, standalone freezer. Or so we thought all these years. “Location, Location, Location” We found out otherwise when the freezer’s compressor failed the...Read More
Practicing an Ounce of Prevention If the answer to that question is “no one” — or at least, not regularly — it’s imperative that the owner do one of the following (at least if their home happens to be located in Minnesota and it’s winter): –Winterize the home (shut off the water and drain the...Read More
