They are different
What Are They? Who offers them? Product
warranties are another matter altogether. They are guarantees offered on specific
products by the manufacturer of that product. The manufacturer, not the seller,
offers the repairs.
The problem with some product warranties
is language. They can be extremely vague and leave room for interpretation-never
a good idea in a legal document.
Make Sure They Make
You need the extra protection. You should
always look for clauses in your contract referring to warranties. You will likely
have several product warranties on a new home. Older homes may not be covered
any longer by warranties. It depends on the life of the warranty and the age of
the products within the home. For items that do still have warranties, the contract
should include a listing and description of warranties that are still active.
The warranties must be identified as either full or limited.
of Warranties Full or Limited
What's the difference?
contract and warranty should include the name and address of the party who will
honor the warranty (contractor, distributor or manufacturer). Make sure the time
period for which the warranty is offered is clearly specified.
Watch out for these types of warranties:
The warranties to
watch out for are those that are not specific. A "lifetime" warranty begs the
question, "who's lifetime?" Are they talking about the product? If so, then when
the product dies, is the lifetime over? When can a non-functioning product be
brought back to life? If they are talking about your lifetime, can you really
transfer the warranty when you sell? Of course, the term "lifetime" is supposed
to mean the expected lifetime of the product, but even that could be misunderstood.
It is far better to ask for warranties that have definite and specific
time periods-five years from date of purchase or within ten years of installation.
These are warranties you can actually work with.
On to the Next Legal Right...
Your legal right to a pre-closing inspection.
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