Is a Seller paid Home Warranty considered a Seller Concession?

[CJ1234]

Regarding the contract section, Page 1, URAR.

If there are no seller concessions, but the PA states that "Seller will provide a Home Warranty at a cost not to exceed X"----Do you state YES to the "Is there any Financial Assistance...." Question on Page 1?

 

[Mr Rex]

Yes, it is something of monetary value that is not typically part of the sellers obligations. MHO

 

[CJ1234]

Thank you Mr Rex.

I have always included it, but now have a completed appraisal for which I have received at least a dozen emails, not to mention phone calls.

Any other opinions?

 

[Terrel L. Shields]

It is not monetary assistance. I would not consider it a "concession".

It is a selling point and many homes here are sold with such warranties.

 

[Mr Rex]

Reply with a copy of the definition of market value with the * part about concessions highlighted.

 

[Mr Rex]

It is not monetary assistance. I would not consider it a "concession".

It is a selling point and many homes here are sold with such warranties.

They are "monetary assistance" as in they are costs not normally paid by the seller. Review the * part of def of market value.

 

[ramrcdk]

They are "monetary assistance" as in they are costs not normally paid by the seller. Review the * part of def of market value.

In my Reported Opinion for Report Contract Section: I DO include a description and listing of "what the seller" is contributing to the buyer for the sale of his property, including what the question is asking. "gift" has a huge definition.

 

[Terrel L. Shields]

Again, they are contributing no cash. The "home warranty" in this part of the world is often included in the sale by the seller as an incentive. And the warranties I am familiar with cost $300 - 500 a year at a max unless it is a mansion...and most are going to go with a 12 month warranty... Big deal $500.

 

[Noreen]

I agree with Terrell, I typical talk about if after I have discussed the contract. " The seller has purchased a Home Warranty on the Buyer's behalf for a period of xx year to cover any unforeseen issues with the systems after the closing. I personally consider it as added benefit but not a monetary benefit.

 

[Mr Rex]

I agree with Terrell, I typical talk about if after I have discussed the contract. " The seller has purchased a Home Warranty on the Buyer's behalf for a period of xx year to cover any unforeseen issues with the systems after the closing. I personally consider it as added benefit but not a monetary benefit.

That's quite quaint of you. Ignoring the definition of a concession.