When I think about a warranty or a guarantee, I'm reminded of a funny but very true to the art of sales, movie, Tommy Boy. Even as I type this, I'm laughing! If you'll remember, young Tommy Callaghan, played by Chris Farley, is out trying to sell brake pads to save his late fathers business from a corporate takeover and eventual sale. Tommy is out doing sales calls when he runs into a potential client who does not like the fact that Callaghan does not put a guarantee on the box like their competitors do. The potential client says that people like a guarantee, it makes them feel good. This is true. And this is why potential home buyers like to see that a home has a warranty attached to it. In most cases a warranty will cost about $425. Typically, this money is paid at closing out of the money that you receive as a seller, so you really never miss it. Let's pretend that you are a buyer and you are looking at 2 houses. Both are equal to you in regards to your interest in them. One house is priced at $220,000 and has a warranty. The other is priced at $217,000 and does not include a warranty. Which one do you think you'd be more likely to want to purchase? As a seller, it costs you in the neighborhood of $425, but you are going to make an extra $3,000 or more over your competitors. It is a smart move to offer a warranty as a seller and it is equally as smart to purchase a property with a warranty. All you ned to do is ask your agent to show you how to take out a policy. It is a very simple process that literally takes about 5 mins. to complete.
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