When you purchase a resale home, you can purchase a home warranty (a.k.a., Residential Service Contract or RSV) that will protect you against most ordinary flaws and breakdowns for at least the first year of occupancy. The warranty may be paid for by the Seller for the first year. That cost can be $600-800 (or more) depending on the plan you select.
A home warranty program will give you peace of mind, knowing that the major covered components in your home may be repaired by the warranty company, if necessary. If you need help deciding on a home warranty company, check out Top Ranked Home Warranties.
Even with a warranty, you should have the home carefully inspected before you purchase it.
You can read some reviews of various companies here.
Here are the major RSV providers:
- Choice Home Warranty
at 800-495-7413 - Fidelity National Home Warranty
at 800-444-9030 - Old Republic Home Protection
at 800-445-6999 - Home Warranty of America
at 888-492-7359 - American Home Shield
at 800-735-4663