Buying or selling real estate? A home warranty can be just what the doctor ordered!

Written by Posted On Wednesday, 19 February 2014 09:12

Reposted from The Hallmark Abstract Sentinel. 

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title insurance New York and Long IslandAlthough in many markets around the country there's a real estate feeding frenzy pitting buyer against buyer and leading to bidding wars, in some markets the action is slightly more tepid!

For the sake of this discussion we are going to focus on the slower real estate markets and the angst experienced by the seller of property who desperately wants to get potential buyers into the house to look and then keep them there to make an offer.

Looking at the resale market as opposed to new construction and assuming that multiple houses in any neighborhood are going to be for sale, what is going to differentiate one sellers home from the others?

Certainly location within the neighborhood (i.e. main road vs cul de sac), amenities (new kitchen and bathrooms vs original) or property size will all come into play but, assuming that we are comparing apples to apples and two homes are substantially the same, what might push a buyer towards one home and away from the other?

Consider that for a buyer, even with an inspection that will be conducted by an engineer, the fear will always exist that 3-days or a month after the closing some appliance will breakdown or that there could be an issue with the electrical or plumbing systems.

How can the seller of an older home overcome that fear?

From experience a home warranty that's offered to a potential buyer, even if for only the first year after purchase, provides the needed value-added and comfort for them while improving the property's marketability for the seller.

Prices of a warranty will vary depending on the company chosen and the features of the home that will be covered, but for well under $1,000 the seller can include protection for a buyer for one year that will almost certainly boost the attractiveness of their listing.

An idea of what might be included in a warranty are: Clothes Dryer, Clothes Washer, Refrigerator, Air Conditioning System, Heating System, Water Heater, Electrical System, Plumbing System, Plumbing Stoppage, Oven/Range/Stove, Built-in Microwave, Cooktop, Dishwasher, Garbage Disposal, Ceiling & Exhaust Fans, Ductwork, Garage Door Opener, Whirlpool Bathtub

*The caveat for this product is that home warranty policies are no different than any other type of insurance in that the fine print needs to be read AND understood regarding any limitations or exclusions that may be incorporated so that there are no surprises if a claim is submitted!

If anyone is interested in the names of companies that provide these warranties, contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. and we would be happy to provide them.


title insurance New York and Long Island

Hallmark Abstract Service Vendors

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Michael Haltman

Hallmark Abstract Service provides title insurance for both residential and commercial real estate transactions in New York State.

Hallmark Abstract President Michael Haltman is also extremely involved with the combat veterans 501(c)(3) Heroes To Heroes Foundation, serving as the Board Chair.

Hallmark Abstract Service

In 2008 we opened our doors focused on two primary goals:

Number one was to be a title insurance company that would provide clients with a superior finished product that completely protects their interests for what will likely be one of the largest transactions of their lifetime.

Number two was to insure that the experience of working with Hallmark Abstract Service was as easy and seamless as possible for all parties involved in the transaction!

From the number of satisfied clients who come back to Hallmark Abstract Service time after time for their title insurance needs, the evidence bears out that we have accomplished these two goals in the past and will maintain our client centric focus far into the future!

Michael Haltman

Post 1984 MBA in Finance from the State University of New York at Albany that concentrated on the tax-exempt market, Michael became a municipal bond analyst at Shearson/Lehman Brothers tasked with following general obligation issuers on the city and state level as well as housing bonds secured by mortgage pools.

This experience at Shearson/Lehman Brothers followed by stints at PaineWebber and Citigroup provided a broad framework and understanding of the real estate and mortgage markets.

As CEO of Exeter Commercial which underwrote and funded commercial mortgage loans as a correspondent lender, title insurance played a critical role in both the underwriting and closing process.

In 2008 recognizing both an opportunity and need, Hallmark Abstract Service was born.

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