{"id":4134,"date":"2019-01-03T16:46:33","date_gmt":"2019-01-03T21:46:33","guid":{"rendered":"https:\/\/dankrell.com\/blog\/?p=4134"},"modified":"2022-12-13T10:10:19","modified_gmt":"2022-12-13T15:10:19","slug":"new-home-diligence","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2019\/01\/03\/new-home-diligence\/","title":{"rendered":"New home diligence"},"content":{"rendered":"\n
\"new<\/a>
New home sales (infographic from nar.realtor)<\/figcaption><\/figure><\/div>\n\n\n\n

It\u2019s understandable that new homes are alluring.  After all, newly built homes are modern and efficient.  And there is the idea that new homes require minimal maintenance for the first year of ownership.  But new homes are not flawless.<\/p>\n\n\n\n

Last week\u2019s Florida\u2019s Attorney General home builder settlement is the latest reminder that new home buyers need to exercise due diligence.  The multi-million-dollar settlement with PulteGroup, Inc<\/a> came after a two-year investigation.  A simultaneous complaint alleges that the home builder violated the Florida Deceptive and Unfair Trade Practices Act by: failing to disclose to certain home buyers in Florida that the homes were being constructed in violation of applicable building codes; unfairly denying certain homeowners\u2019 repair claims for various reasons: unfairly denying certain Florida homeowners\u2019 repair claims without performing an adequate inspection of the home; and unfairly withholding a customer\u2019s deposit in certain instances.  The details of the settlement can be found in the Florida AG\u2019s December 28th<\/sup> news release (myfloridalegal.com).  <\/p>\n\n\n\n

This settlement comes two years after the Florida AG entered into a settlement with KB Home in 2016 <\/a>for similar alleged complaints.  <\/p>\n\n\n\n

Home\nbuilder complaints are more common than you think.  In fact, Home builder complaints occur\nthroughout the country alleging violations that may include (but not limited\nto): code violations, improper warranty denials, and improper handling of\ndeposits.  <\/p>\n\n\n\n

Maryland\u2019s Attorney General fined NVR Inc in 2012 because it was alleged that required warranty protections were omitted from their subsidiary new home contracts.\u00a0 A number of other home builders were fined that year for failing to register with the Consumer Protection Division’s Home Builder Registration Unit.\u00a0 And in 2016, the Maryland AG filed charges against a Rockville home builder <\/a>for alleged violations of the Home Builder Registration Act, the Maryland Express and Implied Warranties Act, and the Consumer Protection Act.\u00a0 And more recently, the Maryland AG filed charges in September against a Baltimore County home builder for allegedly \u201cfailing to comply with Maryland\u2019s Home Builder Registration Act, Consumer Protection Act, and the Custom Home Protection Act.\u201d<\/p>\n\n\n\n

Unfortunately, many home buyers let their diligence lapse when buying a new home.  New home builder reps are friendly, helpful and often appear to be on your side, so it\u2019s understandable how a home buyer may misconstrue the builder rep\u2019s loyalties.  However, when buying a new home, you should conduct your due diligence.  You should also consider hiring a Realtor<\/a> and a licensed home inspector<\/a> to assist you through the new home buying process.<\/p>\n\n\n\n

When buying a Maryland new home, you should know that the state regulates home builders.  Before considering a home builder, make sure that the home builder is registered<\/a> with the Consumer Protection Division\u2019s Home Builder Registration Unit.  Before entering into a contract with the home builder, review and understand the contract.  You may want to consult an attorney to make sure that your Maryland new home contract complies with the state requirements.  <\/p>\n\n\n\n

You should also keep in mind that Maryland has established a Home Builder Guaranty Fund<\/a> that is overseen by the Consumer Protection Division. The fund allows consumers to seek recourse \u201cfor losses resulting from an act or omission by a registered builder who constructs a new home for a consumer.\u201d  For additional information about due diligence when buying a new home and obtaining the handbook \u201cBuying a New Home, Consumer Rights and Remedies Under Maryland Law<\/a><\/em>,\u201d contact the Maryland Office of Attorney General\u2019s Consumer Protection Division (marylandattorneygeneral.gov\/Pages\/CPD).<\/p>\n\n\n\n

By Dan Krell.
Copyright \u00a9 2019. <\/p>\n\n\n\n

Original published at https:\/\/dankrell.com\/blog\/2019\/01\/03\/new-home-diligence <\/p>\n\n\n\n

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\nDisclaimer<\/a>.\n This article is not intended to provide nor should it be relied upon \nfor legal and financial advice. Readers should not rely solely on the \ninformation contained herein, as it does not purport to be comprehensive\n or render specific advice. Readers should consult with an attorney \nregarding local real estate laws and customs as they vary by state and \njurisdiction. Using this article without permission is a violation of \ncopyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s understandable that new homes are alluring.  After all, newly built homes are modern and efficient.  And there is the idea that new homes require minimal maintenance for the first year of ownership.  But new homes are not flawless. Last week\u2019s Florida\u2019s Attorney General home builder settlement is the latest reminder that new home buyers … <\/p>\n

Continue reading “New home diligence”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[652,362,587,348,270,405,470,13],"tags":[988,770,909,490,488,937,797],"class_list":["post-4134","post","type-post","status-publish","format-standard","hentry","category-custom-homes","category-design-build","category-due-diligence","category-home-builder","category-home-buyer","category-homebuyer","category-new-homes","category-real-estate","tag-custom-homes","tag-due-diligence","tag-home-builder","tag-home-buyer-2","tag-new-home","tag-new-homes","tag-real-estate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1VZLf-14G","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/4134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/comments?post=4134"}],"version-history":[{"count":9,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/4134\/revisions"}],"predecessor-version":[{"id":6579,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/4134\/revisions\/6579"}],"wp:attachment":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/media?parent=4134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/categories?post=4134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/tags?post=4134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}