So how does it work? When there’s a problem, the owner calls the warranty company, which then appoints the service provider who will be fixin g it. Th e provider will call the owner to schedule an appointment and fix the problem while the insurance company will pay the service bill. Th ere are many diff erent types of coverage available, so be careful and take your time when choosing a plan. Pay special attention when reading the fin e print relating to the conditions for coverage and the reasons claims may be denied. Th e secret to getting a good insurance plan lies in dealing with a reputable company and knowing all the details. Step 5: Order a Home and Pest Inspection We discussed at length in Chapter 11 about the importance of buyers ordering home inspections as part of the closing process. It is absolutely worth the short-term fee of a home and pest inspection to make absolutely sure that there are no major problems with the home — anything from falling shingles, leaky pipes, a broken furnace, an outdated and unsafe electrical system, to termite, spider, or even rodent infestations, to structural integrity issues. Engage multiple specialists to check the air conditioning system, plumbing, and electricity. Th is could save you thousands of dollars by uncovering existing issues. For pest inspections, hire a specialized pest inspection company to check your future property for contamination by fli es, mosquitoes, cockroaches, fl eas, rats, mice, bedbugs, termites, beetles, critters, carpenter bees, ants, and a variety of other types of pests. Does this make you cringe? Better to fin d out now rather than later, a ft er you’ve signed the contract and had the title transferred to your name, and you’re stuck with an infestation you didn’t know about and now have to deal with. 162
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