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🔥 Topic: 
Question:

Implied Warranty for New Home Construction

Question: I am considering a new construction townhouse and am concerned about the build quality. Is there anything that protects me?

Answer: Yes, under New York State law, buyers of a newly constructed single-family home or a unit in a newly constructed multi-unit residential structure (such as a condominium or a cooperative building) which is five stories or less can benefit from the “housing merchant implied warranty” (NY General Business Law 777-a and 777-b). It guarantees that the new home or unit will be free of certain defects starting as of the date the new owner takes title (or from the first occupancy of the new home as a residence, whichever occurs first). The period of time of the protection varies. For example:

1) For one (1) year, the home will be free of defect due to poor workmanship/not having been constructed in a skillful manner (things like violations of relevant building codes and deviation from accepted building practices are considered);

2) For two (2) years, the home will be free of defects in terms of plumbing, heating, electrical and ventilation system installations; and

3) For six (6) years, the home will be free from material defects affecting load bearing portions such as the walls, floors, foundation and roof framing.

Important Tip: If a condominium or co-op building is newly constructed and is six stories or higher, then the requirements of the housing merchant implied warranty will not apply, and the seller (in most cases a developer/sponsor) will be obligated for whatever warranties are stated in the building’s offering plan.

🚃 provided by 
Neil B. Garfinkel
~ REBNY Broker Counsel, Partner-in-charge of real estate and banking practices at Abrams Garfinkel Margolis Bergson, LLP

Thank you, 
anne 
----------------------
Anne Chang
Founder & Principal
玉石不動產顧問
JadeStone Real Estate Consulting
1460 Broadway, 11FL; NYC 10036
917-810-8592 (O) 917-494-0531 (M)
anne@JadeStoneNYC.com
www.JadeStoneNYC.com
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