Q: I’m currently in contract to buy a townhouse. The broker and my attorney are encouraging us to have the seller purchase a home warranty (through Coldwell Banker). What is your opinion of these programs? There seems to be many complaints about them online.
A: First, I need to give you a couple of disclaimers: I have only limited experience with home warranties, and I don’t know anything about Coldwell Banker’s specific program. So this is only my general and limited opinion.
From what I have seen and heard, home warranties suffer from a "fine print" problem. Homes and their systems are very complex, and there are so many variables that affect them, from the weather to do-it-yourself repairs.