HUD's new rule seeks to clarify the circumstances under
which home warranty companies may compensate real estate professionals without violating the Real Estate Settlement Procedures Act, particularly Section 8 provisions on kickbacks and unearned fees.
Not exact matches
Most
home warranty companies also offer additional coverage for an extra charge, such as protection for your swimming pool (
which would get treated differently under your
home insurance policy) or hot tub.
They are the first and only
home warranty company to offer a truly green option, GreenPlus,
which replaces covered equipment with ENERGY STAR qualified products.
The
Company issues and administers five different
home protection contracts including a co-branded
warranty for CRES Insurance Services
which provides additional benefits to both the
home seller and CRES clients.
The
home warranty and
home inspection
companies were previously owned by LandAmerica, a large real estate services
company which filed for bankruptcy in November 2008, primarily due to problems in its title insurance and 1031 Exchange businesses.
The one
company which seemed to stand above the rest was
Home Service Club
Warranty.»
Legislation has been introduced over the years to exempt
home warranty companies from RESPA,
which NAR has supported.
We did wind up having the
home warranty company replace the condenser in the height of the TX heat in August - but it took over a week,
which is unacceptable.