What Are Transferable Roof Warranties (4 Things to Know)
When it comes to your home, a solid and well-maintained roof is essential for protection, comfort, and long-term value. A transferable roof warranty can provide an extra assurance layer by offering coverage beyond your ownership.
Rescue My Roof has served homeowners for over a decade, helping them achieve the roof of their dreams. We’ve walked thousands of homeowners through their warranty options – and today, we’re walking you through transferable roof warranties.
In this article, we’ll delve into the world of transferable roof warranties, discussing what they are, their benefits, and how they can enhance the value of your property. Ultimately, you can decide if a transferable warranty is right for you.
What Are Transferable Roof Warranties?
A transferable roof warranty is a type of warranty that can be passed on from the original homeowner to subsequent property owners. This means that if it turns out that your property isn’t your forever home and you decide to sell, the warranty will transfer to the next owners.
However, there’s a catch: the transferable warranty ends after 15 years. So if you sell your house within that 15 years, the warranty will transfer to the subsequent owners, who will receive the rest of the 50-year coverage.
They won’t get those benefits if you don’t sell it within 15 years. Additionally, it is only transferable one time. If the house continues to get sold over and over within 50 years, only two owners will benefit from the warranty.
So if you sell your home, your warranty may be transferable to the new homeowners.
Benefits of Transferable Roof Warranties
The average duration of homeownership in the U.S. is 13 years. Your home may be perfect for your family now, but circumstances change. Families grow bigger; jobs pop up in new cities.
Getting a transferable roof warranty can give you peace of mind when the time comes to sell your home. Here are some other benefits of transferable roof warranties:
- Increased Property Value: Homes with transferable warranties often command a higher resale value. Prospective buyers are more likely to feel confident in their investment, knowing they are protected against potential roofing issues.
- Enhanced Marketability: Transferable warranties can make your property stand out in a competitive real estate market. They provide a tangible selling point that sets your home apart from others.
- Buyer Confidence: When potential buyers see that a transferable warranty covers your roof, they’ll feel more assured about the condition of the home’s roof and may be more inclined to move forward with the purchase.
- Long-Term Protection: Even if you decide to sell your home sooner than expected, the new owners will continue to benefit from the coverage the transferable warranty provides.
- Minimized Negotiations: A transferable warranty can reduce negotiations related to roof condition and potential repair costs during the home sale process.
4 Things to Know About Roof Warranty Transfers
As a homeowner, you should be prepared for any future changes. That’s why we’ve created a list of four things you should know about warranty transfers.
When the time comes to sell your home, here’s what you need to know about your roof warranty.
1. Warranty Registration
Once your roof replacement is complete, your contractor will register your transferable warranty with the materials manufacturer.
For example, Rescue My Roof is a certified Atlas contractor. If one of our homeowners were to get a transferable warranty, we would register their warranty with Atlas.
Once registration is complete, homeowners will receive a submission confirmation and a certificate in a few weeks. If you don’t receive confirmation, follow up with your roof contractor to confirm warranty registration.
2. Transferable Warranties Do Not Renew
Your warranty begins on the date of original installation. Your warranty will be fully transferable for the first ten years. Transferring a warranty does not renew or extend the warranty – the new homeowners will only get the remaining life.
If you have a 50-year warranty but want to move five years into its life, it will continue onto the new homeowners with 45 years of coverage.
3. Beginning the Transfer Process
After closing the sale of your home, you must complete a warranty transfer application through your manufacturer – not your roofing company.
There may be transfer fees associated with your transfer application. Fees will vary depending on the manufacturer.
If you are registered with Atlas, you can visit their warranty page to begin your transfer. There is a $100 fee paid directly to Atlas Roofing.
4. Transfer Roof Warranties ASAP
Life can be hectic, and it’s easy for small to-do-list items to get lost in the shuffle. But once your home is sold, you have 60 days to submit the transfer application and pay any fees.
If you don’t meet the deadline, the transfer window closes, and the new homeowners won’t receive any benefits.
Investing in a Transferable Warranty
Investing in a transferable roof warranty protects your property and adds value and peace of mind to both you and future homeowners.
These warranties offer a significant advantage in the real estate market and help create a sense of security that can sway potential buyers in your favor. As you consider roofing options and contractors, be sure to explore transferable warranty options to ensure lasting protection and increased property value.
There are different types of warranty – both transferable and not. Read “What Can Void a Warranty” and “The Benefits of a 50-Year Roof Warranty” to learn more.
Are you ready to replace an old or leaking roof in southeastern Wisconsin? Rescue My Roof has got you covered. Contact us today to get a free estimate.