Statements regarding a homeowner warranty

Assignment Help Financial Management

Reference no: EM131490134

1. After making a walk-through inspection two days before closing on the property, the purchasers prepared a list of items that they thought should be covered under the terms of the contract. Which of the following is NOT considered a walk-through item?

a. The air-conditioner does not lower temperature below 82 degrees.

b. The dishwasher does not work.

c. The guest bathroom toilet does not flush.

d. A large crack has appeared in the wall over the fireplace.

2. Which of the following statements regarding a homeowner warranty is FALSE?

a. A homeowner warranty may be purchased by either the seller or the buyer.

b. The homeowner warranty allows for repair or replacement of covered items.

c. The homeowner warranty provides protection for a period of 10 years.

d. No inspection is required to obtain a homeowner warranty.

Reference no: EM131490134

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