Homebuyers: Don’t Rely on Warranties
Home buyers remain in a tough bind, chasing after homes amid steeply rising prices. The average price per square foot in Chicago is up more than 25% in the past year. In Salt Lake City, the average price per square foot has increased more than 20%. In Dallas, the price per square foot has increased more than 25% in the past year. And let’s not even discuss what is going on in coastal cities.
A Home Warranty is a Lousy Replacement for an Inspection:
To state the obvious, taking on a debt of a couple of hundred thousand dollars (or much more) without fully understanding the condition of what you’re buying is sort of nuts. If you’re considering waiving the home inspection contingency on a bid, that’s your risk to bear. But don’t be fooled that the home warranty the seller advertised with the listing is any sort of meaningful protection.
Check out more information based on why you shouldn’t rely on home warranties!