Guaranteed completion and defect resolution for recladding and exterior renovation projects
Getting reasonable offers when selling a home with high risk features or cladding is difficult these days. You’re competing with newly built homes and others with low risk cladding and features.
Having a 10 year WaterTight Warranty on recladding work gives confidence to potential purchasers that it has been carried out by an accredited professional builder.
And homeowners can be assured that an independently insured warranty is in place to remedy potential future defects in the work, regardless of what’s happened to the original builder.
BENEFITS FOR HOMEOWNERS
- Materials and workmanship – guaranteed for two years
- Weathertightness of the building envelope – guaranteed for five years
- Structural defects – guaranteed for ten years
- Reclad and remediation work – guaranteed up to $500,000
- Refunds lost deposit if work isn’t started
- Guarantees completion of the building work at the price you agreed
- The Warranty is transferrable to subsequent buyers, helping you sell your home faster and for more
WHAT STANDARDS DO APPROVED BUILDERS NEED TO MEET?
- Be a Licensed Building Practitioner with a current, valid license
- Have proven, successful experience in undertaking reclads, exterior renovation & remediation work
- Provide trade and customer references
- Meet financial solvency tests
- Meet business & construction management standards
HOW MUCH DOES IT COST?
Compared to the cost of losing your deposit, having to stump up extra costs to complete the work or fix defects, the cost of a 10 year warranty is very reasonable. It can also help resell your home faster and for more than homes without an independent warranty. The cost is based on the value of your building contract. Ask your builder to include the cost of a WaterTight Warranty in their quote.
HOW TO APPLY
Your builder will need to apply for the Warranty on your behalf. It must be signed by both the builder and homeowner before being submitted to Builtin New Zealand Limited for approval. Once approved you will be sent a Certificate of Warranty.
Please note, if you have not received a Certificate of Warranty before work starts please check with your builder immediately as a guarantee may not yet be in place.
TRANSFERRING A WARRANTY
Warranties can in most cases be transferred multiple times during the term of the policy. A transfer application form must be completed and the fee paid once a Sale & Purchase Agreement is completed. Applications for transfer should be made no later than 30 days from the settlement date. To request a form please contact us on 0800 BUILTIN, or email email@example.com.
There are a number of obligations for both the builder and homeowner under the Warranty including:
- complying with the terms of your building contract
- compliance with the building code
- not to overpay in advance of work done
- notification of variations
- notification of claims
- maintenance of the dwelling or works
- limiting any damage or loss, as approved by Builtin