News

Thursday, June 24, 2010 : Bonded Builders Warranty Group Joins Builder Partnerships

Builder Partnerships is pleased to announce the addition of Bonded Builders Warranty Group (BBWG) as a service associate in our program. BBWG, in cooperation with Cobbs Allen & Hall, has put together a great warranty package for our builder members.

For over 21 years, BBWG has demonstrated to residential home builders the protection an express warranty offers as it allows the builder to both define and limit their exposure to a broad category of post-closing warranty issues. Our warranty programs provide a “benchmark” for both builder and homeowner; Bonded Builders offers third-party customer service and dispute resolution to help resolve issues. 

Builders of new residential construction may be subject to implied warranties for workmanship, materials, major mechanical systems as well as overall structural integrity of the new home depending on the state specific statutes (statute of repose). When a builder purchases a BBWG Warranty, they transfer a significant portion of their risk to the warranty company and its insurer for up to 10 years. The BBWG Warranty is approved by HUD and fully complies with HUD (FHA/VA) requirements as defined in 24CFR203.200. 

The Partnership Warranty Plan (administered by Bonded Builders Warranty Group), along with obtaining proper legal assistance to incorporate risk management strategies, can assist BP Members to:  

• Develop a comprehensive builder contract that is current and protects the home builder;
• Create a contractual process that settles disputes via alternative methods that favor conciliation, mediation and arbitration over costly litigation;
• Drive an Express Limited Warranty that disclaims Implied Warranties;
• Set builders up with the contractual means to deflect construction defect litigation to the warranty dispute resolution process; and
• Establish contractual performance standards, expectations and responsibilities for the builder and homeowner regarding their new home and/or remodel.

It is always a good idea to know your customer and listen to their feedback. Customer satisfaction is not just a good idea, it is smart business that results in your selling more homes. Go to learn more, visit http://www.bondedbuilders.com/. Members can visit the secured website at www.builderpartnerships.com to enroll. If you have any questions on accessing this program information, please contact Monica Wheaton by email at monica@builderpartnerships.com or by phone at 303.972.7666.