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.
Queens New York Home Builder's Warranty Agreement is a legally binding contract between a home builder and a homeowner that outlines the terms and conditions of warranty coverage for a newly constructed home in Queens, New York. This agreement protects homeowners by ensuring that any defects or issues with the home are repaired or resolved by the builder for a specified period after the construction is completed. The primary purpose of the Queens New York Home Builder's Warranty Agreement is to provide homeowners with peace of mind and financial protection in case any problems arise in their newly built home. It typically covers various aspects such as materials, workmanship, systems, and structural defects. The agreement may also include provisions for appliance warranties, plumbing, electrical, and HVAC systems. One common type of warranty agreement is the Structural Warranty. This provides coverage for any structural components of the home, such as the foundation, load-bearing walls, beams, and columns. The warranty period for structural defects is usually longer compared to other components, typically ranging from 5 to 10 years. Another type of warranty agreement is the Systems Warranty, which focuses on the functionality and reliability of major systems in the home such as heating, ventilation, air conditioning (HVAC), plumbing, and electrical systems. This warranty usually covers a shorter period, typically ranging from 1 to 2 years. Additionally, the Material and Workmanship Warranty is a crucial component of the Queens New York Home Builder's Warranty Agreement. It ensures that the builder is responsible for defects or issues arising from faulty materials or poor workmanship during the construction process. The duration of this warranty typically ranges from 1 to 2 years. To ensure compliance with the agreed warranties, homeowners are usually required to promptly notify the builder of any issues and allow them reasonable access to inspect and repair the problem. The builder, in turn, is obligated to rectify the issues in a timely and satisfactory manner. In summary, the Queens New York Home Builder's Warranty Agreement is a legally binding contract designed to protect homeowners from defects and deficiencies in their newly constructed homes. It encompasses different types of warranties, including Structural, Systems, and Material/Workmanship warranties, each covering various aspects of the home. By understanding and adhering to the terms outlined in the agreement, homeowners can have confidence in the quality and durability of their newly built homes.
