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.
King Washington Home Builder's Warranty Agreement is a comprehensive agreement provided by King Washington, a reputable home builder in the industry. This warranty agreement outlines the terms and conditions that protect homeowners from defects and issues that may arise with their newly constructed homes. The King Washington Home Builder's Warranty Agreement aims to give homeowners peace of mind by offering protection and assurance for their investment. It covers various areas of the home, including the structural integrity, electrical and plumbing systems, as well as major appliances and fixtures. This warranty agreement is designed to ensure that any workmanship or material defects arising during the specified warranty period are promptly addressed and resolved by King Washington. Additionally, it provides homeowners with access to certain post-construction services, such as routine maintenance and repairs. There may be different types of King Washington Home Builder's Warranty Agreements, depending on the specific requirements and preferences of the homeowners. These could include: 1. Standard Warranty Agreement: This is the basic warranty agreement provided by King Washington that ensures coverage for major structural components and home systems for a specific period. 2. Extended Warranty Agreement: This type of warranty agreement offers homeowners an extended coverage beyond the standard warranty period, providing additional protection for a longer duration. 3. Optional Upgrades Warranty Agreement: For homeowners who opt for specific upgrades or customization during the construction process, this agreement offers coverage for those upgrades in addition to the standard warranty provisions. 4. New Construction Warranty Agreement: This agreement is specifically tailored for newly built homes and provides comprehensive coverage for all aspects of the construction, ensuring that any defects or issues are remedied during the initial period. Overall, King Washington Home Builder's Warranty Agreement is a vital document that protects homeowners from unexpected expenses and ensures the quality and durability of their newly constructed homes. It offers homeowners the peace of mind that their investment is safeguarded and any potential issues will be addressed promptly by King Washington.
