Note: Ah-Ha of the Day was created with the real estate professional in mind, but may be applied in other industries and provide great information for home buyers & sellers.
Have you represented a buyer that bought a home with a sump pump, septic system, sewer ejector or septic tank pump? Did they purchase a home warranty? If yes, does their warranty have the appropriate coverage for any of the above either standard or optional? If optional, did they knowlingly request or reject it? If the home warranty company they chose did not have the coverage available, did one of the other home warranty companies you recommended have the coverage available? Did you inform your client of this?
According to the Old Republic Home Warranty Representative I spoke with regarding the salt water pool AH-HA, she stated Old Republics Standard Plan covers the Sump Pump, but the Septic Tank Pumping/Septic System/Sewage Ejector Pump is optional coverage.
We aren’t in the busineses to sell home warranty plans, BUT is it worth your time to know the home warranty plans you are recommending and whether those plans have the coverage that your client needs? Could you be taking a risk if after your client has a claim denied due to it not being covered, finds out that this coverage was either an option that could have been added or another home warranty company had this coverage available, so they file a complaint against you as the buyer’s agent stating “they would have purchased had they known.”? Whether or not the buyer is being truthful, more prudence and liability may be put on the agent as the agent is recognized as the professional.
What about other additional coverage options? Are you going through the options with your client? It may be in your and your client’s best interest to review companies and option that are specific to their purchase, have them initial the options were reviewed and either accepted or rejected and keep a copy of this in their file.
Please feel free to add an Ah-Ha or comment on any Ah-Ha given. I don’t have all the answers, but we can learn things together and collaborate to make things better!
Crush it!
Please let me know if you have any questions, anytime!
Jamie Sistek – REALTOR
“That Tickled Pink Girl”
eXp Realty
Email: Jamie@TickledPinkHomes.com
www.tickledpinkhomes.com
480-451-1400 – Direct
480-734-1971 – Cell
“Tickled Pink Is What You’ll be;
My Customer Service Is The Key”
Have you considered moving to the Scottsdale/Phoenix area or looking for a second home? Call Jamie at 480-451-1400 or email Jamie@TickledPinkHomes.com and let’s get started!
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