Home Protection
My dogs playing in the snow!
I was reminded this weekend of the old saying “expect the unexpected.” Four days into spring and it was snowing – in Virginia nonetheless! Now for those of you who aren’t Virginia natives, we don’t get much snow here, so the fact that it was spring and we had 2-4 inches of snow is pretty amazing!
Stuck on the idea of expecting the unexpected, I started thinking how it relates to real estate. Throughout the closing process it’s inevitable that last-minute problems arise at the very worst of times. Of course, that’s why you hired a Realtor to smooth over any issues that pop up! In addition, Virginia is a buyer beware state. Now that doesn’t mean buyer be–wary, but it does mean that it’s up to the buyer to diligently investigate all aspects of the home to determine any material adverse facts. The main sources of information discovery usually come from a home inspection, termite/moisture inspection, and title search.
So what if you do all of the above, but still find yourself in a sticky situation? There are steps you can take as a new homeowner to protect yourself from the unexpected.
Home Protection
- Title insurance. Any contract requires the seller to provide free and clear title, but occasionally property liens or ownership is questioned after a deal closes. Title insurance covers you from any of these unforeseen mishaps.
- Homeowner’s insurance. Covers property loss and liability.
- Home warranty – a policy through First American Home Warranty generally runs about $400/year and although you can pick a plan that suits your needs, plans general cover big-ticket items such as your HVAC, hot water heater, kitchen appliances, and so on.
Hampton Roads Real-e-statement is written by Alyssa Godwin, a Realtor with Liz Moore and Associates. For questions regarding homeowner protection contact Alyssa at 757-329-6161 or alyssagodwin@lizmoore.com. You can also find Alyssa on Facebook or on the web at www.lizmoore.com/alyssagodwin.