1 way home contractors, home sellers and real estate agents use to attract buyers is to offer a warranty on the homes that they sell. Home builders are generally required to supply buyers with promises covering their new residences against various flaws. Non-builder home warranties are actually service contracts and they cover an assortment of home systems like heating and electrical systems. Only home builders’ warranties are meant to cover structural items like a home’s foundation.
Home Builder Warranties
The promises home builders provide on their new residences differ from home support warranties or contracts offered by many home sellers. Home contractors provide warranties which are normally great for a year following purchase of newly constructed residences. Builders’ warranties cover problems such as cracks in a home’s foundation, inferior wiring and plumbing and other flaws. Following a year, most contractors’ warranties on residences are confined to major structural problems that pose health or safety issues.
Home Service Contracts
Home service contracts never cover important structural flaws like foundations cracking or collapsing. Home service warranties offered by home sellers and real estate agents or bought by homebuyers come in various plans and coverage levels. Most home warranties cover, at minimum, replacement or repair of ductwork, inside plumbing, central heating and cooling, water heaters and important built-in appliances. Additional safety over and above basic home service warranty coverage is also available for many warranty- company-defined home systems.
Important Structural Defects
According to the Federal Trade Commission, home builders’ warranties cover all of workmanship and materials used in the building of residences. Home builders’ warranties, though, do not normally cover small cracks in tile, brick, cement or drywall, although they can. Many home builders, though, offer warranty coverage for up to 10 years for major structural defects affecting the health or safety of their homes’ occupants. If you have foundation splitting, collapse or other problems on your newly constructed home, notify your builder immediately.
Home Foundation Repairs
Repairs to home foundations can be easy do-it-yourself projects or major and quite costly reconstruction occasions. According to this “HouseLogic” site, narrow foundation cracks less than 1/4-inch wide can be left alone or filled in with epoxy putty or silicone caulk. Horizontal foundation cracks or vertical foundation cracks larger than 1/4-inch or stairstep cracks in foundation bricks or blocks signal potentially serious troubles. Buckled foundation walls and intense cracking require serious repairs costing a few thousand dollars or even more.
Making Warranty Claims
The conditions of your contractors’ warranty or service agreement to your home govern how claims are created. Always read through your house’s warranty or service agreement extensively to decide whether your house’s issue is covered. If you think the problem in your home is covered under your contractor’s warranty or service contract, file your claim according to directions. Furthermore, keep records of all home warranty or service agreement claims, particularly if online or phone claims processing is permitted.