Home warranties are popular offers for home buyers that worry a hidden problem can become a major issue down in the future. The warranties can be used to cover repairs for an unexpected plumbing or electrical problem. However, home buyers should be aware home-service contracts often have limits on what a warranty covers. In addition, some say the offer of a home warranty in a hot market with low inventory may be a sign that the home has a problem that may emerge down the road. Experts say if a home warranty is offered it is important to also have the home inspected. Inspections provide a complete picture of a home and can reveal things that aren’t usually covered by home warranties. The knowledge provided by a home inspection can ultimately give buyers more negotiating power to lower the sale price of a home. However, any problems discovered during an inspection will be considered “pre-existing” and won’t be covered by a home warranty once a deal is complete. | Read More