What kills me is that in many states the buyer pays for the attorney
and he will not open his mouth and say anything because he wants to
get the closing over with. In other states the builder may supply the
attorney. If you let them you are letting yourself be screwed. Some
other states don't involve attorney's any more. In those cases you
pay less for the closing and you get what you pay for.


If you are paying for the closing attorney, if he is any good he will
tell you not to sign it until you have read it. (And he might tell
you not to bother doing either because it is crap.)

Here is a true story of a 3rd party warranty.

Warranty says homeowner must maintain house to collect.
Sounds reasonable.

Builder builds house very close to creak and promises to put in a
structural retaining wall. Never does. Builder promises to do it and
says don't worry there is a great warranty any way. Homeowner stupidly
agrees to close.

Builder never builds wall and creak is getting closer to foundation.
Homeowner calls warranty company. They come and say that there is no
damage yet so there is nothing to fix. So won't pay to put in wall.
Plus they say that the homeowner is obligated to maintain the house.
Therefore if he doesn't put in a retaining wall and foundation
collapses he STILL will not be able to collect.

That is a true story.

Read your warranty before signing it.





"TURTLE" wrote in message
...

"Art Begun" wrote in message
...
I thought I would post, for the benefit of people buying a new
home,
some information on those 3rd party warranties builders often
supply.
Usually the builder raves about them but you never get a copy
until
closing day and they ask you to sign the front page at closing.

Don't do it. You are signing away most of your normal consumer
rights
and the terms of the warranty are so bad it is highly unlikely
that
you would ever collect a cent under it. For the most part it
frees
the builder of liability for meeting code which would otherwise be
required by law. So if a code violation is found after closing
you
would not be able to do anything about it.

Big name builders and small builders use these things. Refuse to
sign. Tell them at closing that you don't sign anything with out
reading it and you will take it home and sign it after studying
it.
After a careful reading you can decide what is right for you.


This is Turtle.

Arty , Them home builders are going to not like you for telling on
them
about their gimmicks to sell homes with. I know the warrenty is
worthless in
most cases but they are not going to send you a Christmas card if
you tell
on them. I wanted to warn you here if you was expecting a christmas
card
this year.

TURTLE