The home warranty incentive must be submitted with the initial purchase offer.
The home warranty incentive is available only for owner occupant offers (primary or secondary home) submitted on or after May 25, 2012. Investor purchases, auction sales, sealed-bid sales and bulk sales are ineligible for this incentive.
The home warranty incentive is valid on any HomeSteps home for sale in the United States (including PR, VI and GU).
Under the home warranty incentive, HomeSteps will pay for a home warranty up to $500. Seller's contribution is for a home warranty up to $500. No credits will be given for any unused amount nor will the credit exceed $500 even if the price of the home warranty is great than $500. Should the cost of the buyer’s home warranty exceed the $500 allowance, they will be responsible for providing the remaining funds as part of their closing costs so full payment to the home warranty can be made by the closing agent.
Credit will not be paid directly to buyer as a reimbursement but instead dispersed to the buyer’s home warranty company.
HomeSteps reserves the right to remove any property from this incentive or end the incentive at any time. The home warranty incentive will not be paid if closing does not occur for any reason. Any dispute over the payment of a credit or fee shall be resolved by Freddie Mac in its sole discretion.
The home warranty incentive is void where prohibited by law or applicable MLS rules. Selling agent is responsible for determining same prior to making offer.