While home warranties are part and parcel of buying a new home, this is the first time that a similar concept has been applied to second-hand home purchases.
The product, called Starr Safeguard, will be offered by real estate group Starr Partners on their Sydney listings at the vendor's request.
Vendors must opt in to the cover before settlement, with the policy then being transferred to the buyer's name during the settlement process.
“Today, just about everything comes with a warranty – including newly built homes," says Starr Partners CEO Douglas Driscoll. "Until now, however, Australian home buyers have never had an option for a second-hand home purchase.
“This type of cover is hugely popular in the US, with 90% of homes in California sold with it. Starr Partners is excited to be the first ones to offer this in Australia.”
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out