Nova Scotia Real Estate Practice Exam

The primary purpose of obtaining a home warranty is to provide coverage for repairs or replacements of major home systems and appliances. A home warranty offers peace of mind to homeowners and buyers by covering unexpected issues that may arise after the purchase of the home. This can include problems with HVAC systems, plumbing, electrical systems, and major appliances like refrigerators and ovens. By having this protection, the homeowner can avoid significant financial burdens associated with costly repairs and can address issues more conveniently, as the home warranty company usually coordinates repairs and provides access to service providers.

While options discussing increasing the selling price, ensuring financing approval, and guaranteeing structural integrity may be relevant considerations in real estate transactions, they do not essentially encapsulate the main function of a home warranty. A home warranty specifically targets the operational aspects of homeownership and aims to protect against malfunctioning systems, making it a valuable aspect of real estate transactions for enhancing homeowner security and satisfaction.