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.
The West Virginia Home Builder's Warranty Agreement is a legal contract that provides assurance and protection for homeowners against potential construction defects or structural issues in newly built homes within the state of West Virginia. This agreement is designed to maintain a high level of quality and integrity in the home building industry. This warranty agreement ensures that the home builder is responsible for repairing or replacing any defects or issues that arise within a certain period after the completion of the construction project. It acts as a guarantee that the builder will rectify any problems that affect the structural integrity or livability of the home, giving homeowners peace of mind knowing that their investment is protected. The West Virginia Home Builder's Warranty Agreement typically covers different aspects such as the foundation, roofing, plumbing, electrical systems, heating, ventilation, air conditioning (HVAC), and other major components of the home. It aims to protect the homeowner from unexpected and costly repairs that may occur due to workmanship errors or faulty materials. There are different types of West Virginia Home Builder's Warranty Agreements offered by various builders within the state. Some common types include the 1-year warranty, which covers most construction defects for the first year after the completion of the home; the 5-year warranty, which provides coverage for major structural issues for up to five years; and the 10-year warranty, which offers an extended coverage period for structural defects. It is crucial for homeowners to carefully review and understand the specific terms and conditions of their warranty agreement before purchasing a new home. This includes identifying any exclusions or limitations within the agreement, as well as the procedures for reporting and resolving issues covered by the warranty. By obtaining a West Virginia Home Builder's Warranty Agreement, homeowners can have confidence in the quality of their newly built homes and have the assurance that any potential defects or problems will be addressed promptly and effectively by the builder.
