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.
A Hillsborough Florida Home Builder's Warranty Agreement is a contractual agreement between a home builder and a homeowner in Hillsborough County, Florida. It outlines the terms and conditions of the warranty coverage provided by the builder for a newly constructed home. This warranty ensures that the builder will repair or replace any defects or issues with the construction materials, workmanship, or major systems in the home during a specific time frame. The Hillsborough Florida Home Builder's Warranty Agreement is designed to protect the homeowner's investment and provide peace of mind by addressing potential problems related to the construction of the property. It typically includes coverage for structural defects, plumbing and electrical systems, HVAC (heating, ventilation, and air conditioning) systems, roofing, and other major components of the house. The duration of the warranty may vary depending on the builder and the specific agreement. However, it commonly spans from one year for workmanship and materials, up to ten years for major structural issues. Different types of warranties may be available, including: 1. Workmanship and Materials Warranty: This warranty covers defects in the construction materials used and any issues related to the builder's workmanship for a specific period, usually one year. 2. Systems Warranty: This type of warranty focuses on the major systems in the home, such as plumbing, electrical, and HVAC. It provides coverage for repair or replacement of these systems if they fail within a specified period, typically two to five years. 3. Structural Warranty: This warranty offers protection against major structural defects that could compromise the home's safety or stability. It may cover issues like foundation problems, load-bearing walls, or roof structure for a longer duration, often up to ten years. 4. Extended Warranty: Some builders may offer an extended warranty option that goes beyond the standard coverage. This could include additional years of protection or more comprehensive coverage for specific components or systems. It is crucial for homeowners to carefully review the Hillsborough Florida Home Builder's Warranty Agreement and understand its terms and limitations. They should also keep in mind that certain issues might be excluded from coverage, such as normal wear and tear, cosmetic damages, or damages caused by homeowner negligence. Consulting a real estate attorney or a knowledgeable professional during the home purchasing process can help ensure that the warranty agreement aligns with their needs and expectations.
