Understanding the owner’s warranty is crucial for homeowners, as it outlines the criteria for the performance of the house and covers a range of components. It also establishes the obligations of the builder and owner, and may have exclusions. Maintenance is the responsibility of the owner.
The owner’s warranty should be read carefully. Understanding subtle wording and specific terminology is essential. Each home builder has a different homeowner’s warranty. It gives the owner specific criteria for the performance of the house. Sometimes warranties have paragraphs that provide limited coverage and sometimes the coverage is for the life of the home.
An owner’s warranty will cover a wide range of components. Generally, it will only cover problems discovered in the first year or two after the purchase of a newly built home. In some cases, there is a longer warranty, often eight or more years, of warranty against structural construction defects.
The way the owner must make a claim is also often printed on the owner’s warranty. Such information is essential in telling the owner what to do if a defect is discovered during the warranty period. In some cases, a claim must be submitted in writing to a warranty operations center; in other cases, a phone call is enough. The warranty may also cover emergency services that occur during the first few years of home ownership. These can include plumbing, electrical, or heating failures.
The owner’s warranty will establish the obligation of the builder and the obligation of the owner. For example, you can state directly that if a builder does not determine that a condition is their responsibility, the warranty performance request can be denied. You can also state that if the builder agrees that a defect is their responsibility, they will remedy the condition in accordance with the terms of the warranty. It will set the standards that will determine if there is, in fact, a defect.
Other useful information included in the owner’s warranty is the amount of coverage. In some cases, the builder can cover all defects, regardless of the number of requests. However, some warranties may only cover a certain number of defects.
Most warranties will also clearly state the owner’s obligations. In general, the maintenance of a new house is the responsibility of the owner. Every home requires maintenance to prevent deterioration. In some cases, the owner’s maintenance manual will be available to new owners so they can be sure to follow warranty guidelines. In many cases, the warranty will directly state that the builder is not responsible for the owner’s failure to maintain the home.
There are often exclusions to an owner’s warranty. Exclusions generally list things that can happen to a home that a warranty won’t cover. These may include fire, natural disasters, explosions, riots, dropped objects, changes in classification by anyone other than the builder, additions to the home, and any damage caused by daily wear and tear.
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