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
DerStefan81 schrieb:
I don’t think the savings bank offers something like that Why not, it doesn't hurt to ask.
We also finance with a variable rate through the savings bank, as we expect a larger lump sum payment soon.
Maybe try going that route. Then you could use the loan to pay off another credit.
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DerStefan8118 Oct 2018 08:35apokolok schrieb:
If the land price is correct, I find the package price quite fair.
The crucial point is probably whether you are satisfied with the house itself. I originally planned to build in that development myself.
Therefore, I am aware of the land price.
The house has approximately the same size (-5m² (54ft²)) and layout as I would have built myself.
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DerStefan8118 Oct 2018 09:42For a new build, I would have hired a building inspector to review the construction contract and oversee the construction phase. In this case, however, the property is already completed and ready for occupancy. Should I still hire a building inspector to examine the finished new build? Of course, many trades will no longer have access at this stage.
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Mottenhausen18 Oct 2018 10:57The first question that comes to mind is: is it even enforceable to tie financing to a specific bank if the bank is not the seller? What if you pay in cash using your own funds? I find this agreement between the current landowner and the Sparkasse more than questionable.
Consulting a professional when buying a house is always a good idea, whether the house is 1 week or 50 years old. They can already tell if there is a damp-proof course exposed around the building and other issues that a layperson simply wouldn’t notice.
Consulting a professional when buying a house is always a good idea, whether the house is 1 week or 50 years old. They can already tell if there is a damp-proof course exposed around the building and other issues that a layperson simply wouldn’t notice.
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DerStefan8118 Oct 2018 11:45Mottenhausen schrieb:
The first question that comes to mind: is a financing commitment tied to a specific bank even enforceable if the bank is not the seller? What if you pay cash from your own funds? I find this agreement between the current landowner and the savings bank quite questionable. Legally, it might not be enforceable; in that case, the seller would just wait for the next interested buyer who doesn’t mind this condition because they want the house.
In the current market, it’s certainly not difficult to find a new buyer.
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