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.
Connecticut Home Builder's Warranty Agreement is a legal document that outlines the rights and responsibilities of both homeowners and home builders in the state of Connecticut. It provides protection and peace of mind to homeowners by ensuring that their newly constructed homes are built to high standards and free from defects. Additionally, it establishes a warranty period during which the home builder is obligated to repair or replace any covered defects. The Connecticut Home Builder's Warranty Agreement typically includes specific details such as the duration of the warranty period, which generally ranges from one to ten years, depending on the type of defect involved. It also covers various components of the home, including the structure, foundation, electrical systems, plumbing, HVAC, and other major systems and equipment. There are different types of Connecticut Home Builder's Warranty Agreements that cater to various aspects and timeframes. Some common types include: 1. Structural Warranty: This type of warranty covers defects in the structural components of the house, such as the foundation, walls, and roof. 2. Systems and Equipment Warranty: This warranty focuses on the major systems and equipment within the home, including electrical, plumbing, and HVAC systems. It ensures that these components are installed and function properly. 3. Finish Warranty: This warranty covers defects in cosmetic finishes, such as paint, flooring, and cabinetry. It ensures that these elements are installed correctly and do not exhibit any defects. 4. Extended Warranty: Some builders may offer an extended warranty period, beyond the standard coverage, for an additional cost. This type of warranty provides homeowners with enhanced protection and peace of mind for an extended period. It is important for homeowners to thoroughly review the terms and conditions of the Connecticut Home Builder's Warranty Agreement before signing it. They should understand the coverage, exclusions, and limitations of the warranty as well as the procedures for reporting defects and obtaining repairs. Additionally, homeowners should keep copies of all warranty documents and related communications for future reference.
