Whether you are buying or selling a home, warranties are a topic often brought up during real estate transactions. The warranty covers everything from appliances to floor coverings. They provide security for both the homeowner and the buyer.
A transferable warranty is an excellent asset for roofing. This article will explain what you need, how to transfer it, and how long it takes to complete.
What is a warranty?
Let’s first discuss warranties in general before we get into roofing warranties. Merriam Webster defines a warranty as “a guarantee of product integrity and the maker’s liability for repair or replacement of defective components.”
Defective is one of the keywords. Unfortunately, most warranties cover faulty products only and do not cover problems due to daily use or aging.
Who warrants your roof?
The manufacturer of roofing products or the roofing contractor may offer roof warranties.
Guarantees of Workmanship
The roofing contractor will typically provide a warranty on workmanship and cover the quality of the final installation.
Manufacturer Warranties
The manufacturer’s warranties are limited to roofing materials. In addition, they assume that the roofing contractor installed the roof correctly.
Extended warranties may cover contractor workmanship.
It is not typical for workmanship warranties from contractors to be transferable. This article will focus on how to transfer a manufacturer’s roofing warranty.
Understanding Your Roof Warranty
It would help if you looked at the following details when reviewing a roofing warranty contract document:
Who is covered?
Warranty terms should clearly state who is covered by the warranty. For example, the warranty covers the original owner of the roofing or shingles and, if transferable, any subsequent owner.
What is covered?
You’ll find information about which products are covered and eligibility information such as how to install approved contractors. If there is a defect, you will also find the remedy. For example, are labor costs for reinstallation and tear-off covered? Or is the warranty limited to the cost of new material?
Time limits
The coverage period may vary depending on the component (shingles vs. Vents) or feature (algae resistance and wind resistance, for example). Pay attention to the wording.
What is not covered
The manufacturer’s warranty will typically list some scenarios that are not covered, such as improper handling, roof preparation errors, and damage from debris impact.
Transferability
You should refer to the contract if your warranty can be transferred from one homeowner to another. However, it is sometimes mentioned in the “Who is Covered?” paragraphs.
Claims process
A section should address how to file a claim and where to send it.
Warranty Terms: Limited, Limited, and Lifetime.
When discussing warranties, you might hear limited or lifetime terms. Depending on their use and the warrantor’s intent, these terms can have different meanings. These words can also be used together, such as “limited life.”
Please pay close attention to these words whenever they appear in a document.
What is a limited warranty?
Warranty conditions are part of every warranty. Therefore, warranties can be “limited” in terms of:
- time
- cause of the problem (such as wear and tear)
- disallowable costs like labor or certain parts.
A warranty is limited by the number of items that the manufacturer specifies. Make sure to take the time and read the fine print. This action will ensure you fully understand your warranty.
What is a lifetime warranty?
Lifetime warranties on roofing products usually mean that the product will be available for as long as the owner of the home owns it. If you have any questions, contact your roofing contractor or manufacturer, such as Roofing Repair Sherborn MA.
What does a limited lifetime guarantee mean?
You’ll often find a limited lifetime warranty if you combine the two words. However, this warranty usually has some product and time coverage limitations.
What is an extended warranty?
The manufacturer can offer extended warranties. These warranties may offer longer or more comprehensive coverage than standard warranties. However, extended warranties are usually more expensive and may not be available for specific products or under certain conditions.
Can Roofing warranties be transferred?
As mentioned earlier, the warranty contract is a prerequisite for transferring a roof warranty to a new owner.
Transferable warranties usually have specific guidelines that must be adhered to for the transfer to occur correctly.
Sometimes, the cost of moving the warranty from the original owner to the new owner is prohibitive.
Many warranty transfer procedures vary from manufacturer to manufacturer and even between product lines. You must complete a transfer within the time frame required after a house has been sold.
Transferring a roof warranty
You should note essential details regarding a transfer:
- Multiple warranties cannot be transferred more than once. Only the second owner can benefit from the roofing warranty in such cases, and you cannot move the contract to another owner.
- Certain manufacturers may charge a small amount to transfer the warranty from the previous homeowner.
- Specific components might be excluded from the warranty depending on their age at the transfer time.
When transferring a warranty, there are three things that you must know and do:
- Deadlines. Roofing companies require that you submit all the necessary paperwork and a transfer request within 60 calendar days of closing the real estate transaction.
- Ownership history. You can often find proof of ownership information on a county website. You can also use these documents:
- A copy of the deed or
- Closing documents showing the name of the previous owner and the new owner, as well as the date of the property’s transfer
- Installation date and proof of purchase. Because the warranty applicable to shingles is based upon the installation date, you must know this information.
How can homeowners help with warranty transfers?
Proper record-keeping can make warranty transfers relatively easy. Make sure to register your warranty once your roofing project has been completed. Securely store all paperwork and a copy of the contract. This action will make it easier for the new homeowner to complete the warranty transfer.
What happens if the seller doesn’t have the warranty documents
It’s possible to transfer a warranty if you purchase a home where the previous owner did not keep accurate records. To prove your purchase, you should first call the contractor or supplier. Also, provide the year and month that they installed the shingles.
Benefits of transferring roofing warranties
Warranty lets consumers know that the manufacturer backs their products. For example, roofs can be one of the most expensive upkeep expenses for homeowners. However, a quality roof can last many years, making it a worthwhile investment.
Tip: When you buy a house, inquire about the roof and the documentation required for a warranty transfer.