Wednesday May 7 - "Is Builder Required to Offer a Warranty." Question: We have put an offer in on a home (no broker involved) The house is a year old. The builder of the home is not providing a new home warranty. He built it himself and is a contractor. Is he required to offer a warranty? Answer: If someone is living at the property -- and it is a year old -- then it's not a "new" home. What you have here is the sale of an existing home, so different rules may apply. Check with housing authorities in the local jurisdiction. Must new homes have a 10-year structural warranty? That's common in many areas and would mean that the property -- whether new or existing -- would have some protection. If there is such as rule in place then it doesn't matter what the builder prefers, the rules must be followed. Also, ask about other warranties that may be required.

Published: May 7, 2008

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