ᐅ Buying a Completed New Build – Is the Warranty Still Valid?
Created on: 15 Oct 2018 23:06
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DerStefan81
Hello everyone,
I am looking to buy a newly built house that is fully completed.
It is move-in ready: floors, painting, kitchen, garden, and paving work are all included and finished.
The construction company builds many houses in our development area and has already completed numerous projects. The feedback I received from some homeowners I spoke with is positive.
Since everything is already finished, I cannot inspect many things anymore.
I would appreciate any tips or suggestions.
I just want to make sure I haven’t overlooked or neglected anything.
I do not have the purchase contract yet.
How does the warranty or defect liability work in a case like this?
Is the builder/seller allowed to exclude it?
Thanks in advance,
Stefan
I am looking to buy a newly built house that is fully completed.
It is move-in ready: floors, painting, kitchen, garden, and paving work are all included and finished.
The construction company builds many houses in our development area and has already completed numerous projects. The feedback I received from some homeowners I spoke with is positive.
Since everything is already finished, I cannot inspect many things anymore.
I would appreciate any tips or suggestions.
I just want to make sure I haven’t overlooked or neglected anything.
I do not have the purchase contract yet.
How does the warranty or defect liability work in a case like this?
Is the builder/seller allowed to exclude it?
Thanks in advance,
Stefan
That's exactly what I meant. 0.6% is a significant figure. With a €300,000 loan, that means an additional €1,800 in costs during the first year. Over the term, this quickly adds up to €15,000–€25,000 in extra expenses.
I don’t know how strong supply and demand are in your area, but for me, tying products together like that is unacceptable. That’s not what transparency looks like.
I don’t know how strong supply and demand are in your area, but for me, tying products together like that is unacceptable. That’s not what transparency looks like.
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HilfeHilfe16 Oct 2018 07:34Normally, you should also have a 4-year warranty. But it's best to ask about that. Otherwise, it’s new, and you know what you’re getting. I don’t see any problem there.
The issue with the 0.6% is annoying, but as long as the purchase price is right.
The issue with the 0.6% is annoying, but as long as the purchase price is right.
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DerStefan8116 Oct 2018 09:00matte1987 schrieb:
I don’t know how strong supply and demand are where you are, but for me, this kind of tied deal is not acceptable. Transparency looks different.I find it very frustrating, but I cannot change it.Demand is very high, as in almost everywhere.
In the next town, the suburban train goes to Hamburg.
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DerStefan8116 Oct 2018 09:08HilfeHilfe schrieb:
The issue with the 0.6% is annoying, but as long as the purchase price is right I think the purchase price is reasonable.
Standard house, 154m² (1,657 sq ft) with a gable roof without dormers according to the Energy Saving Ordinance
Knee wall about 1.60–1.70m (5.25–5.6 ft)
Without ventilation system (trickle ventilation through window frames)
Kitchen, floor coverings included
Viessmann gas heating
Complete underfloor heating
Electric roller shutters
Driveway + house perimeter + 2 terraces paved, 240m² (2,583 sq ft)
Rolled lawn, 275m² (2,960 sq ft)
60m (197 ft) hedge, 1m (3.3 ft) high
Plot size 650m² (7,000 sq ft)
Painting work
Price €440,000 plus additional purchase costs
The plot alone would cost €145,000.
Stefan
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DerStefan8116 Oct 2018 09:33arnonyme schrieb:
Can you choose the fixed interest period freely, or is it fixed as well? I can choose the fixed interest period freely between 5 and 20 years.
I will either go for a 10-year fixed rate and then refinance for 5 years, or take a 15-year fixed rate right away. The remaining balance in both cases would be almost zero.