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 Suffolk New York Home Builder's Warranty Agreement is a legally binding contract between the home builder and the homeowner that outlines the terms and conditions for warranty coverage on the construction and components of a newly built home in Suffolk County, New York. This agreement provides assurance to homeowners that their investment is protected and guarantees repair or replacement of any covered defect or issue that arises within a specified time frame. Keywords: Suffolk New York, Home Builder's Warranty Agreement, warranty coverage, newly built home, Suffolk County, terms and conditions, repair, replacement, covered defect, specified time frame, investment protection. There are different types of Suffolk New York Home Builder's Warranty Agreements available, including: 1. Structural Warranty: This type of warranty typically covers any structural defects in the home, such as foundation issues, unstable walls, or roof problems. It ensures that the builder is responsible for repairing or replacing any structural components that fail within a certain period, typically ten years. 2. Systems Warranty: This warranty covers the major mechanical systems of the home, including electrical, plumbing, and HVAC (heating, ventilation, and air conditioning) systems. It ensures that any defects in these systems will be addressed and fixed by the builder within a specified time, usually two to five years. 3. Appliances Warranty: This warranty focuses on the appliances installed in the home, such as refrigerators, ovens, dishwashers, and laundry machines. It guarantees that any malfunctioning appliances will be repaired or replaced by the builder during a designated period, usually one to two years. 4. Workmanship Warranty: This type of warranty ensures that the builder will rectify any defects in workmanship or construction. It covers issues related to improper craftsmanship, such as cracked tiles, faulty paint, or loose fixtures. The duration of this warranty varies but is typically around one year. 5. Roof Warranty: Specific to the roof, this warranty provides coverage for any leaks, missing shingles, or other roof-related problems that may arise within a specified time frame, typically ten years. Each of these warranty types may have variations in terms and time frames, so it's important for homeowners to carefully review the specifics of their Suffolk New York Home Builder's Warranty Agreement to understand the exact coverage they receive.
