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.
Kings New York Home Builder's Warranty Agreement is a comprehensive contract designed to provide homeowners with coverage and protection for their newly built homes. This agreement ensures that the home builder is responsible for any defects or issues that may arise during the specified warranty period. The Kings New York Home Builder's Warranty Agreement offers homeowners peace of mind by outlining the builder's obligations, specific terms, and conditions under which they will rectify any potential problems that may occur after the completion of construction. This warranty agreement emphasizes the builder's commitment to quality and customer satisfaction. There are different types of Kings New York Home Builder's Warranty Agreements available, tailored to meet different homeowner's needs. These include: 1. Structural Warranty: This type of warranty typically covers structural aspects of the home such as foundation, load-bearing walls, beams, and columns. 2. Systems Warranty: This warranty focuses on the essential systems within the home, including plumbing, electrical, heating, and air conditioning systems. It ensures that these systems will function properly and be free from any defects during the specified warranty period. 3. Workmanship Warranty: This warranty guarantees that the builder's workmanship, such as painting, flooring installation, and carpentry, meets industry standards and is free from any defects that may affect the aesthetic or functional aspects of the home. 4. Material Warranty: This warranty covers specific materials used in the construction of the home, addressing any deficiencies or issues related to the materials themselves. It ensures that the materials used are of high quality and free from defects. The Kings New York Home Builder's Warranty Agreement provides homeowners with a clear understanding of their rights and the builder's obligations, serving as a legal document that protects both parties involved. It helps homeowners feel confident in their new investment, knowing that they are safeguarded against potential costs and liabilities for any unforeseen repairs or replacements in the designated warranty period. By implementing the Kings New York Home Builder's Warranty Agreement, home builders demonstrate their commitment to customer satisfaction, quality construction, and long-term homeowner support. This warranty agreement acts as a testament to the builder's dedication to delivering a high-quality, defect-free home and ensures that homeowners can trust in the builder's reputation and reliability.
