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.
Ohio Home Builder's Warranty Agreement is a legal document that outlines the rights and responsibilities of homeowners and home builders in the state of Ohio. It offers protection and assurance to homeowners by setting standards for the quality and durability of newly constructed homes. This warranty agreement is designed to ensure that home builders meet certain criteria and guarantee that the newly constructed homes are free from defects in workmanship and materials. The agreement provides homeowners with recourse if any issues arise after the purchase. There are different types of Ohio Home Builder's Warranty Agreements available to cater to specific needs and requirements. Some common types include: 1. Structural Warranty: This type of warranty covers the major structural components of the home, such as the foundation, load-bearing walls, roof, and basic plumbing and electrical systems. It ensures that these elements are built to industry standards and remain functional for a specific period of time. 2. Mechanical Warranty: This warranty focuses on the mechanical systems within the home, such as heating, ventilation, and air conditioning (HVAC) systems, as well as plumbing and electrical systems. It ensures that these systems are installed correctly and function properly. 3. Appliances Warranty: This type of warranty covers the appliances supplied by the home builder, such as refrigerators, dishwashers, ovens, and washing machines. It guarantees that these appliances are in working order and will be replaced or repaired in case of any defects. 4. Finish Warranty: The finish warranty covers cosmetic aspects of the home, including paint, flooring, cabinets, and countertops. It ensures that these finishes are free from defects, such as peeling paint or damaged flooring, and will be repaired or replaced if necessary. It is important for homeowners to carefully review the terms and conditions of the specific Ohio Home Builder's Warranty Agreement provided by the builder before entering into a contract. Understanding their rights and obligations under the agreement can help homeowners make informed decisions and protect their investment in a new home.
