Home Warranties
Definition of "Home warranties"
Warranties issued by contractors, sellers, and real estate agencies that protect home buyers from specified defects in a house as per the contract.
Popular Real Estate Terms
English style of architecture characterized by carving and paneling and flattened arches. ...
Half oval window. It is usually small and placed over a doorway serving a decorative purpose. In some case, the window may be mounted with a hinge at either end to a permit opening for ...
Note having more than one maker, if one or more of the makers default on the note, all makers are sued jointly, rather than just one or all, to make restitution ...
The willingness of a lender to give a mortgage to a mortgagor. A mortgage commitment will give a time period the mortgage will be given and an indication of the interest rate to be charged ...
An organized group of ethical behavior guidelines governing the day-to-day activities of a profession or organization. ...
Certificate of an officer stating that a sworn statement is genuine stating when, where and before whom the statement was sworn. A jurat commonly appears at the bottom of an affidavit. ...
The clear, open and active occupancy of real estate. For example, notorious possession is one of the tests for adverse possession. ...
Group of investors pooling their money to purchase real estate. ...
An adjustment to the internal rate of return (IRR) computation so as to improve this measure. This uses a risk-free after-tax rate and a customary rate for money reinvestment. ...
Comments for Home Warranties
What is a "home warranty" that is signed in lieu of having an item added to the contingency agreement ?
Aug 23, 2018 08:34:43Hey Carol,
One thing it needs to be understood is that contingency agreements work BEFORE signing a binding contract, and home warranties work after you do it. So, in reality, we don't understand as one being "in lieu" of another. You should try to include the home warranty - that is; the warranty that if any defects on the house arrive, the contractor/home buyer/real estate agencies will pay for the replacement/repair - IN the contingency agreement, meaning one of the conditions to buy the home is having the home warranty for how many years you can negotiate with the home seller. To better protect yourself with this, get a real estate lawyer. There's a reason some states only recognize contingency agreements if done by real estate lawyers...
Good luck!
Aug 23, 2018 10:16:48Have a question or comment?
We're here to help.