Structure payment warranty easily

Aug 6th, 2022
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How to structure payment warranty

4.8 out of 5
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in this video im going to talk about structural warranties if youre new to development you may not have come across this its important that you know about it because if it can be very expensive as ive learned to my detriment and as of others uh that its very costly so watch the video to find out how structural warranties work and to how to make sure you pay the lowest premiums structural warranties are an interesting animal because a lot of people who arent used to development dont actually know that they have to have structural warranties so they end up doing the work and then theyre trying to obtain uh funding like a mortgage or a remortgage depending on how they financed at the start and lender says can we have structure warranties and then they go and try and get the warranties but the bad news is if you try and get the warranties at the end of the work its gonna cost you a lot more money nearly twice as much as you would have done had you instructed a structural warranty

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Structural Defects Its your builders responsibility to ensure the property is free from major defects for six years after the builds completion.
What is structural warranty insurance? Also known as latent defects insurance, structural warranty insurance is a type of policy that covers defects in new buildings for a set period following completion, usually 10 or 12 years.
Does a home warranty cover windows? Home warranty plans do not usually cover window repairs. As a structural component of your home, windows fall outside the scope of home warranty coverage. Because home warranties apply to systems and appliances, structural problems arent usually covered.
A structural warranty is provided by the builder of the home and covers workmanship and building materials as related to windows, siding, plumbing systems, the homes foundation and more.
(a) For a period of 3 years from the date of completion of construction of a building or improvement, a warranty as to the roof and structural components of the building or improvement and mechanical and plumbing elements serving a building or an improvement, except mechanical elements serving only one unit.
Structural Defects Its your builders responsibility to ensure the property is free from major defects for six years after the builds completion.
Its important to note that a structural warranty covers structural defects from construction, not issues caused by external factors. Damage from wind, hail, etc., would be covered by homeowners insurance, not a structural or builders warranty, even if the damage is structural.
A structural warranty is provided by the builder of the home and covers workmanship and building materials as related to windows, siding, plumbing systems, the homes foundation and more.

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