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What is covered under the warranty?
The Home Buyers Warranty presented by a John Howard Companies Builder on each new home is known as a 2-10 Warranty. This warranty relates to a one year coverage on specified material and workmanship, two years coverage on specified electrical, plumbing and mechanical systems and ten years of structural protection specifically limited to the Main Structure of the new home. This warranty does not cover landscaping, driveways, walkways, out buildings, or any unspecified items.
Why is a warranty provided?
Home Warranties were introduced nationwide some years ago to provide added protection to Home Buyers. The intention was to provide Home Buyers with assurance that the NEW HOME they were purchasing was soundly built and free of specified defects, as defined in the Construction Quality Standards. In the event the house was not property built, the warranty was designed to protect the Home Buyers should a construction defect occur.
Over the years, home warranties have taken on a new and added importance. In today's modern age of technology and credibility, the warranty has become just as essential to the Builders as to the Home Buyers. Our insured warranty provides protection for the Builder against liability damage on structural defects for up to 10 years. It is a peace-of-mind program for both the Builder and the Home Buyers.
The warranty is an in-place, insured structural Warranty presented at the closing of the permanent loan and deed transfer, is at no cost to the Home Buyers and allows Warranty coverage to be offered in a written form with specific terms, conditions and limitations.
What are the advantages of a 2-10 warranty?
There are many continuing advantages to the Home Buyers of a new John Howard Companies' home with respect to this insured limited warranty.
- The home is protected according to nationally recognized industry standards (construction quality standards).
- The Warranty is fully transferable to any subsequent purchasers; it costs nothing to transfer, and takes no paper work. Simply hand the warranty packet to the new owner. No money to pay, no numbers to transfer.
- The 2-10 Home Builder Warranty is currently the only sponsored Warranty of Choice of the Homebuilder's Association for the State of Alabama.
- Home Builder Warranty states that they satisfy more than 95 percent of Home Buyers who contact them with bona fide problems. They are able to do this because of their extensive follow-up procedures, which are designed to insure that disputes are settled to everyone's satisfaction. An arbitration provision in your contract further insures timely and simplified resolution of any disputes in those rare cases where a Home Owner is not satisfied with the Homebuyers Warranty findings and follow-up procedures.
- 2-10 Home Buyers Warranty is the industry leader when it comes to underwriting. They have searched out the problems and addressed themselves to prevention. Only carefully screened and approved builders are eligible to offer this warranty to their Home Buyers.
Conclusion
You should study your Warranty thoroughly and understand its terms, conditions and limitations. Ask questions if there is any part you do not understand or accept. Your warranty is not a Maintenance Contract, and as a new home owner you have the responsibility for normal upkeep and general maintenance on your home. Refer to your Home Buyers Warranty booklet and the John Howard Companies' Home Owner's Manual for complete details.
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