ANGEL WINGS REALTY NEWS RELEASE, 1 May 2009
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In a recent March 2009 Edition of Realtor Magazine, one author (Dick, March, 2009) outlined several questions that new home buyers should ask with regard to their home warranties: Does the current new-home warranty extend to subsequent home buyers? Dick (March, 2009) wrote that in some cases, clients will want to know if new-home warranties extend to a subsequent buyer. He wrote that, in general, the express warranties discussed apply only if a home is being sold by the builder and the buyer is the first occupant of the home. However, Dick (March, 2009) further wrote that there is a trend toward letting implied warranties pass from the original owner to a second or third owner if the warrant has not expired. What claims are available to new home buyers against the builder? Dick (March, 2009) wrote that new home buyers should read the warranty, if there is one, provided by the builder; call the builder and try to resolve the dispute; provide written notice to the builder of the defect in the form of a letter; give the builder a reasonable amount of time to resolve the problem; seek legal advice if the dispute cannot be resolved; and contact the state consumer protection agency or state attorney general’s office.
New home warranties fall into three categories: Statutory: These are warranties specifically required by law. Implied: These are warranties inferred by legal precedent set in past lawsuits. Dick (March, 2009) wrote that most states have case law that protects new-home buyers from faulty workmanship. And finally, Express: Dick (March, 2009) wrote that these are written warranties provided by the home builder. He further wrote that a builder may decide to provide express warranties about the home in the purchase contract, even in the absence of a law requiring it to do so.
References: Dick, A. (2009, March). New-home Protections. Realtor. Chicago: National Association of Realtors.
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