Builders are failing and closing their doors at an alarming rate, forcing banks to foreclose on inventory homes. Banks who are watching their new home inventory portfolio grow want to move those homes no matter what it takes!
To some, what it takes is an as-is sale. Most buyers understand what as-is means…until they have a warranty problem. Then they suffer from memory lapse.
Bonded Builders Warranty Group (BBWG) has created a warranty program that removes the problem of buyer memory lapse and the potential liability to you as the seller.
There are a host of benefits associated with providing this warranty program:
- BBWG is HUD approved for those FHA closings.
- According to J. D. Power and Associates, a new home warranty is vitally important to buyers.
- A warranty program ads value to the home which increases sales.
- Buyers are willing to pay for the peace of mind a warranty brings.
- Banks transfer the risk of workmanship & materials claims, even if the buyer has agreed to as-is.
- The structural components of the home are covered for 10 full years.
- The premium is paid from the closing proceeds.
Under the Performance Warranty Plan, BBWG becomes the Warrantor for workmanship & materials and 10 full years of structural coverage, as defined in the warranty document. As Warrantor, BBWG will receive warranty requests, perform repairs in accordance with the Performance Standards and be responsible for payment of those repairs.
The one element in the sales process that no one can control is the buyer. At best, their demands can be a time-consuming annoyance. At worst, a lawsuit that you may win, but have to invest time and money to defend..
Why take that chance when the BBWG program gives you a warranty solution?
