Saturday, May 3, 2014

At The Press Coffee & Tea Lounge

Good morning from The Press Coffee & Tea Lounge in Rochester, MN
Bring your Real Estate Questions between 8 am and 10 am - you could win a $25.00 Gift Certificate for this great coffee shop! And, let me tell you, I'm drinking an Espresso French Press and it's delicious!

Laura has asked the first question today. (8:30 AM)

Q. What's the warranty seller should / would offer for selling the house?
A.  Home Owner Warranties are a popular option for sellers.  Warranties are purchased as "insurance" from a third party vendor. Of course, they come in a variety of forms but usually a seller will contract for the an appliance and mechanical warranty and may optionally cover air conditioning and even installed sprinkler systems.  Sometimes, the seller is covered during the listing period free of charge.  At closing, the seller pays for a one year premium which will cover the buyer after the transfer of title.  Just know, however, that like all insurance policies, there will be a deductible paid by the buyer when a claim is filed.  And, the warranty usually states that the vendor (not the buyer) has the right to repair or replace under any claim.  All in all, warranties can be a great selling tool and give buyers the peace of mind to proceed with a purchase.  Just read the fine print.  Thanks Laura!

Laura has been very helpful today, and so far, is the only person asking questions!

Q.  How do buyers stand a better chance in counter-offering?
A.  I started working on this but time is running short.  I'm finding that I may have to build a matrix of sorts in order to answer this completely.  Look for this soon!

And, guess what?  Although a number of invitations were sent out, invitation response wasn't exactly spectacular. But, that's OK.  It was the first time and I just might have to do this again!

As promised, we have a winner for the Gift Certificate this morning.  $25.00 goes to Laura!  It was great meeting you and having the opportunity to "Talk Real Estate" with you!  Congratulations!

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