Description of Home Builder's Warranty Agreement
A Home Builder's Warranty Agreement is a legal document that outlines the warranty provided by a contractor to a homebuyer regarding the construction quality of a newly built home. This agreement specifies the contractor's commitments to address defects in workmanship and materials for a defined period, ensuring that the home meets accepted building standards.
When to consider using this form
This agreement is typically used when:
- A new home is constructed and the buyer wants assurance of quality.
- The buyer seeks protection against potential defects in the home.
- The contractor wishes to formalize their warranty obligations to the buyer.
Who may need Home Builder's Warranty Agreement
This form is intended for:
- Homebuilders or contractors who construct residential properties.
- Homebuyers looking to secure a warranty for newly built homes.
Key sections explained
The Home Builder's Warranty Agreement includes several important sections:
- Parties Involved: Names and addresses of the contractor and buyer.
- Property Description: Details about the home being constructed.
- Warranty Terms: Duration of the warranty and covered items.
- Liability Limitations: Clarifications on the contractor's responsibilities.
- Governing Law: Jurisdiction under which the agreement is enforced.
- Dispute Resolution: Process for resolving disagreements through arbitration.
Tips for filling out the Home Builder's Warranty Agreement
Follow these steps to fill out the agreement:
- Identify the Parties: Enter the names and addresses of both the contractor and the buyer.
- Describe the Property: Provide a detailed description of the home, including its address.
- Specify Warranty Terms: Indicate the warranty duration and the items covered, such as plumbing and electrical systems.
- Outline Limitations: State any limitations on liability, especially regarding appliances.
- Include Governing Law: Specify the state laws that will govern the agreement.
- Finalize the Agreement: Both parties should sign and date the document to make it legally binding.
What changes based on your state
The Home Builder's Warranty Agreement may include specific provisions based on the laws of the state where the property is located. It's important to ensure that the agreement complies with local regulations regarding construction warranties and consumer protections.
Access this form when and where you need it
Accessing the Home Builder's Warranty Agreement online offers several advantages:
- Convenience: Easily download and complete the form from anywhere.
- Editability: Make changes as needed before finalizing the agreement.
- Legal Reliability: Use templates drafted by licensed attorneys to ensure compliance with legal standards.
