If you are buying a home it is likely we will ask for a home warranty / residential service contract. This is one-year service agreement typically covers the repair or replacement of your home components and appliances that typically breakdown over time due to normal wear and tear. The amount is negotiable and can be found on page 5 of the contract, Section 7.H.). Below are a few options for you to choose from.
You have the option to extend this agreement past the first year and many companies also provide sellers coverage when you put your home on the market to be sold. Let me know if you have any questions!