There are many things that could go wrong, even while building new homes. As a responsible homeowner, it is advisable to only approach builders that offer warranties, whether through in-house agreements or third-party contracts.
Builder warranties make it easier for homeowners to negotiate repairs and replacements of certain elements in a home, especially when they have just been built. A construction company that is confident in the quality of its work would have no problem in giving its customers a good builder warranty contract.
If you are in the process of contracting companies to build your home, make sure that you inquire about their builder warranty immediately.
Builder Warranty Coverage
Usually, builder warranty extends to limited coverage on materials and workmanship on various elements of a home, from windows, plumbing, ventilation, heating, to air conditioning and electrical systems. The warranty defines the terms of repair and the duration of coverage, depending on the component of the house in question.
Basic construction elements like doors, drywalls, and paint usually have a year in coverage. Plumbing and electrical systems extend to up to 2 years warranty. For major structural defects, some warranties could last up to more or less 10 years.
It should be noted that while a builder warranty covers a wide range of home defects, it does not cover expenses made while repairs and upgrades are being made. An example of this is the cost of moving out furniture or finding a place to stay. It also does not cover minor cracks on walls, tiles, cement, or bricks. Household appliances, as well as components covered under a manufacturer’s warranty, are also not covered by a builder warranty.
Know the Terms of Your Builder Warranty Contract
Most of the time, builders back their own home warranties. Sometimes, the builder purchases warranty from independent companies, making such companies responsible for specific claims. Homeowners also extend their warranty by purchasing additional coverage from third-party warranty companies, supplementing the builder-provided warranty coverage.
When looking into builder warranty contracts, it is necessary to always be vigilant of the terms and conditions of your contractor. You also need to scrutinize the coverage and make sure that it is fair for both parties. You need to know what to expect in builder warranty contracts, and question items that seem partial to one party over another.
To make sure that you get the best out of your builder warranty, it is always wise to approach real estate lawyers with years of experience in warranty contracts. Seeking out warranty claims can be complicated. Resolve your warranty issue today with help from a trusted real estate lawyer!
Written by The VanMatre Law Firm, one of the top real estate attorneys in Columbia, MO.