Know Your Legal Rights When Buying a New Home from a Developer

Know Your Legal Rights When Buying a New Home from a Developer

Residential construction is booming again in Florida, with new housing starts up almost 20% in 2016, according to HBWeekly.com. When you buy a new home from a developer, Florida law mandates that it must be habitable and fit for its intended purpose. In legal terms, this is known as an “implied warranty of fitness.”

In addition to guaranteeing that everything in your new home is in good working order, implied warranties also apply to any construction surrounding the home. For example, if you purchase a new home in a multi-unit complex, the surrounding structures must meet the same standards as your new home.

When you purchase a new home from a developer, you should receive a builder’s warranty that details your specific rights, such as requirements that the builder fix any defects during a certain time period after you buy the home. These express, written warranties should be part of your purchase contract and you should consult with a real estate attorney to be sure they are included.

Your warranties should also make it clear that you have entered into a legal relationship with the developer since this will allow you to enforce the warranties. Your warranty should ideally detail the quality of the materials you expect to be used in your home and that the home is free of defects and hazards that could compromise the value of the property.

After moving in, if you do find any defects in your new home, there are certain procedures you must follow — and a time limit, typically 15 days — to either resolve the issues or protect your right to take the matter to court. Under Florida law, you must give the developer written notice of the defects at least 60 days before filing a lawsuit. The developer must be given the opportunity to fix the defects before you can file suit.

Florida law also provides for a statute of limitations for filing a lawsuit against a developer. For new home defects, you have four years from the date you discovered, or should have discovered, the defect.

The complex issue of warranties means you should seek the advice of an experienced Florida real estate lawyer before you buy a new home from a developer. Contact one of the experienced Florida real estate attorneys at Jurado & Farshchian, P.L., at (305) 921-0440, or email us at info@jflawfirm.com.

 

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