Make the Executive Decision When Selling Your Home
Selling your home can be overwhelming. Home owners often overlook a major selling point and that is their home security system. When a home owner makes the decision to invest in a security system their first thought is usually about safety, not the resale value of the system. We are here to offer our expertise and help you understand what your options are.
There are benefits to having a home security system in place when selling your home. If your home is similar in pricing and style to other properties in your area you can advertise that your home includes a security system.
As buyers tour your property they will try to get an understanding on the safety of the neighborhood, schools and home itself. As they start to see burglary, fire and security measures already in place, this will help stand out in a way that your competition might not.
You should remind potential buyers that having a home security system in place can save them on the cost of equipment and installation. They will also be eligible for a discount on their home owners insurance.
Before you start to make a decision on what to do with your security system you will need to ask yourself two questions.
(1) Am I still under contract with my home security provider?
(2) Do I understand what equipment I do and do not own?
Most home security companies offer their systems at a price below their cost. They plan on making this money back over the term of the home owner’s contract. This allows them to maintain ownership on a portion of the system.
For most companies, once the seller fulfills their contract they own the equipment outright. They can choose to transfer equipment to their new address or include it with the sale of their home.
Many home owners assume they are out of contract but find out later that they are in a roll over contract. You mainly see this with national security companies. An example of this would be signing up for a 3 year contract with your security provider. Once those 3 years are up, you have 30 days to call your provider and cancel service. However, if you do not cancel in that 30 days then you are automatically renewed for another 3 year contract.
If you are out of contract you may choose to transfer your equipment to your new property for your own use. You are also able to start marketing it as an addition to your property for sale to add an extra incentive for the buyers.
If you are bound by a contract with your provider you still have options. Start by contacting your provider to answer the following questions.
(1) Will you be charged for the remainder of your contract?
(2) Is there a buyout fee?
(3) If the new buyer does not want to take over your contract, does your provider need the equipment back?
(4) Are you able to transfer service to your new address without paying transfer fees and starting a new contract?
(5) When these questions are not asked it can make it a difficult transition for all parties. Educate yourself early on to make the best decision when selling your home.
Executive Security Consultants is a locally owned and operated security company that was founded in 1988. We have over 30 years’ experience serving the Columbus area.
As a company we believe in transparency. We offer many options for our clients who remain in contract when they are selling their homes. We are happy to transfer services to their new location without requiring a new contract.
The seller is also able to include the security system in the sale of their home for the new buyer to take over the existing contract. We try to work with each individual seller to find a resolution that is right for their situation.
Comments are closed.