What is a Home Warranty?
Many times, you will see ‘home warranty’ referenced in remarks about a home. This refers to is a warranty that can be purchased to warrant the systems of a home for generally a period of one year.
Home warranties can be purchased by the seller of a home and transferred to the purchaser at closing. They typically cover mechanical systems, appliances, and other devices in the home. They generally do not cover the structure or materials (roof, hardwood flooring, foundation, etc). New homes, however, come with state mandated structural warranties, as well as manufacturer’s warranties, that last longer than the one year home warranty.