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<p>A third party entity providing such a warranty needs to be
approved by the insurance commissioner. Maybe that's what they
are thinking. The only other thing that comes to mind is the
relatively meaningless contractor bond if it's a warranty direct
by the contractor.</p>
<p>Before getting too deep I'd look to see if the warranty even
provides any meaningful coverage. Many small builders tend to
have warranties that are apparently written by attorneys designed
to make sure there is never a claim that can be made against their
client. The warranty will merely warrant that the foundation,
framing, etc. was to code, constructed of appropriate materials,
or some such thing.<br>
</p>
<pre class="moz-signature" cols="72">Kary L. Krismer
John L. Scott, Renton
206 723-2148</pre>
<div class="moz-cite-prefix">On 5/14/2019 4:11 PM, Craig Blackmon
wrote:<br>
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<div dir="ltr">'Mates, I have a listing agent who has convinced my
buyer client that the law requires a bond or other guarantee for
new construction warranties. Thus, according to the agent, there
is no reason to worry about the builder's ability to honor the
warranty down the road.
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<div>I know about the warranties imposed by law, but this is
news to me there is a bond or other security requirement. Does
anyone have any insight? Particularly if the listing agent is
right and I am just clueless.....
<div><br>
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<div>Craig<br clear="all">
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<div
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Blackmon, Attorney at
Law</div>
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