ServicePlus Blog

Home Warranty News & Articles

How to Transfer A Home Warranty Plan from Seller to Buyer

January 31, 2022

Moving is one of the most stressful affairs. Fortunately, a plan purchased from a home warranty company can help you sell your home faster.

There is a handful of standard benefits of having a home warranty plan ready. If your water heater suddenly goes down or your plumbing fixture starts acting up, all you need to do is file a complaint to your home warranty company and they will send out a registered technician to your doorstep to fix the issue or replace the item. The entire process will cost you minimal. What we have just said is the benefit of having a home warranty contract as a homeowner, but when it comes to selling your home there are little fewer advantages than having one as a homeowner. The truth is a home warranty plan can actually increase your home’s value and buyers always find it preferable to purchase a home with an active home warranty plan.

So you’ve already found the buyer and sold your home. So what happens to the home warranty that you have already purchased. Now in this article, we are going to talk about transferring your home warranty coverage to your buyer.

Are home warranty plans transferable?

Well, the policies differ from plan to plan, but most home warranty plans are transferable. Most home sellers or real estate agents purchase a home warranty plan for their new buyers. Once a buyer purchases their property, the sailor transfers the home warranty insurance to that buyer.

The process of transferring a home warranty plan can work out in different ways-

The real estate agents can buy a home warranty policy as a gift for the buyers. Realtors often purchase home warranty plans as a gesture of goodwill or thanks to their customers. Most buyers often find a little out of budget after purchasing a home and this is exactly where a home warranty policy can put their minds in peace by assuring them with the coverage for crucial home appliances or systems. If any of the covered items break down due to regular wire and tear, the home warranty company will repair it or replace it without any costs. If you are a home seller, you can easily contact your retailer to transfer the home warranty policy to your new buyer.

As a home seller, you can also attract potential buyers with a home warranty plan. It’s a great way to assure your buyer that your home is in a good shape and all your important home appliances and systems are fully covered so that they won’t have to experience any hassles if something goes wrong with the covered items.

How to transfer the home warranty policy to your buyer?

The process is very simple- get the buyer’s information like name, email address, phone number, and address, and then contact your home warranty company and they will explain to you the entire process of transferring the plan.

If you have a ServicePlus Home Warranty that you want to transfer to your home’s buyer, contact us here.