If you’ve built your dream home, you want to enjoy it for years to come. Many custom home builders, including our team at Schar Construction Company, offer warranty coverage on our work so you can live comfortably in your home. These home builder warranties generally kick in if you need to repair or replace a major component of your house.
If you end up moving before your manufacturer’s warranty has expired, you will most likely be able to transfer the warranty coverage to the new owner. However, this switch doesn’t happen automatically, and it’s better for everyone involved if you know what’s involved in transferring your warranty.
Read on to learn about what goes into home builder warranties and how to transfer your coverage.
The Basics of Home Builder Warranty Coverage
If your home builder offers a warranty on its work, the coverage probably comes from a third-party home warranty company. The warranty will typically cover a variety of home systems, such as the roof, electrical work, plumbing, and landscaping. When selecting a home builder, make sure you know what’s covered under the warranty.
If you need to repair or replace a part of your home that’s covered by the warranty, you should submit a claim with the warranty provider as soon as possible. Depending on the terms of the warranty, you may need to select a repair contractor from a list of approved vendors.
Remember, a home builder warranty is distinct from homeowners insurance.
Schar Construction’s home builder warranty is consistent with the specifications made by the National Association of Home Builders.
What You Should Know About Transferring Home Builder Warranties
Because people buy and sell homes all the time, home builder warranty providers generally make it simple to transfer your coverage. Many warranty companies limit the time frame in which you can make the transfer, so if you’re looking to sell your home, check the terms of your warranty coverage early.
In most cases, the home buyer’s real estate agent may choose to buy the warranty as a gesture of thanks. This can help reassure the buyer that their needs are covered if something major goes wrong with the house. In a buyer’s market, home sellers may choose to transfer the warranty to the buyer for free. If the housing market in your area heavily favors sellers, buyers may choose to add the fees for transferring the warranty to their offer.
How To Transfer a Home Builder Warranty
The first step in transferring your home builder’s warranty coverage is to contact the company that provides the warranty. You may have to make a phone call or fill out a form online, but the barriers regarding transferring coverage are generally low. Some other things you should ask include:
- Who is paying for the coverage?
- Who will pay for the transfer fees, if applicable?
- How much time is left on the warranty coverage?
- Do different aspects of the coverage expire at different times?
Most of this information should be covered in the warranty paperwork, and the warranty provider will also be glad to help answer your questions about it.
Choose the Right Custom Home Builder
When you make your dream home real, you want to protect it against the things that can go wrong. That’s why you should choose a home builder warranty that fits your needs.
Our team at Schar Construction has over six decades of combined experience as home builders in Eugene, OR, and surrounding areas, including Coburg, Springfield, and Junction City. Whether you want to remodel a room, build an addition to your home, or create a new custom home anywhere in or near Lane County, contact us online or give us a call at 541-229-0773 to learn more about what we do.