What is a Home Builder’s Warranty Agreement?
When a new construction home is completed by a home builder, the client should be confident that the manufacturer or seller they’ve hired will provide high-quality products and perform high-quality work. In the construction industry, client confidence becomes even more critical as the high standards expected of contractors directly impact safety. In such situations, warranty contracts come in handy.
A construction warranty is a legal document in which the contractor provides a covenant that guarantees to the client (homeowner) that they will perform all works following building codes and standards and project specifications without flaws or defects. Breaching such an agreement results in monetary recovery of related damages and costs for material replacement or reparation works to be carried out at the contractor's expense.
The Magnuson-Moss Warranty Act, a US federal law enacted in 1975, regulates warranty contracts. It states that while not all products and services require written guarantees, if parties conclude one, then such an agreement must comply with the Act. This law aims to prevent manufacturers from misleading clients with inappropriate and unfairly made disclaimers on the guarantees.
Types of warranties
There are two general types of contractor warranty agreements:
- Express warranty is a written or verbal guarantee from the seller that the purchased product is of a certain quality and that the seller can replace or repair it if there are any defects.
- Implied warranty is a guarantee that the purchased product operates as it should.
Builders’ warranties operate under another classification because of industry specifics:
- Time-based warranty is the contractor’s promise to provide a particular thing in a defined condition at a specified time (for example, to guarantee the construction is waterproof for a certain number of years).
- General warranty is a guarantee to perform defined works according to the project blueprints and specifications without a time reference.
Preparing a new Home builder warranty To complete your paperwork correctly, use a verified home builder’s timely-based guarantee agreement from the US Legal Forms library. This multi-state editable and printable legal template requires you to fill out the following information:
- Name and contact details of the contractor and the buyer;
- Newly-constructed house description;
- List of items that are under builder’s guarantees (can be expanded);
- List of items the builder doesn’t take responsibility for (can be changed);
- Name of the state that will govern the agreement.
Florida Home Builder's Warranty Agreement is a legally binding contract between a home builder and a homeowner, aimed at providing assurance and protection regarding the quality of construction and materials used in building a new home. This agreement acts as a guarantee that the builder will rectify any defects or issues that may arise within a specified period after the completion of the construction project. A Florida Home Builder's Warranty Agreement typically covers various aspects, such as structural defects, mechanical systems, plumbing, electrical systems, and other construction-related elements. It ensures that the builder will address any defects or failures that have occurred due to faulty workmanship or substandard materials. There are different types of Florida Home Builder's Warranty Agreements offered by builders, each with its own terms and coverage options. Some common types include: 1. Structural Warranty: This type of warranty covers the structural components of the home, such as the foundation, walls, roof, and support systems. It ensures that any structural defects or issues will be addressed by the builder within a specified period, usually ranging from 5 to 10 years. 2. Systems Warranty: This warranty focuses on the mechanical systems of the home, including HVAC (Heating, Ventilation, and Air Conditioning), plumbing, and electrical. It offers protection against any failures or malfunctions in these systems, guaranteeing that the builder will rectify them within a specific timeframe. 3. Workmanship Warranty: Aimed at addressing defects resulting from poor workmanship or errors during construction, this warranty covers issues related to finishes, trim work, fixtures, and other aesthetic aspects of the home. It typically lasts for a period of 1 to 2 years. 4. Manufacturer's Warranty: While not specifically a part of the builder's agreement, this warranty is often included in the package. It covers the warranties provided by manufacturers of appliances, equipment, and materials used in the home's construction. The builder ensures that homeowners receive the necessary documentation and support to take advantage of these warranties. Florida Home Builder's Warranty Agreements are crucial for homeowners as they protect their investment and provide peace of mind. It is important for homeowners to thoroughly review the terms and coverage of the warranty agreement before signing, ensuring that it aligns with their expectations and requirements. Additionally, they should understand the procedure for filing warranty claims and the builder's responsibility for addressing these claims.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
