The Emergence of the Homebuyer’s Rights
For many years the phrase “buyer beware” characterized the homeowner’s relative lack of power against the builder of the defective home. Deemed to have an affirmative duty to inspect the property prior to execution of the purchase contract, homebuyers who failed to do so were denied recovery and their only recourse was to establish fraud by the seller, who conversely had no duty to disclose defects. Moreover, upon the closing of the sale, any warranties and representations made by the builder concerning the home were deemed to expire with the issuance of the deed, thus eliminating the chance that the homeowner could successfully maintain a lawsuit against the builder for breach of contract or warranty.
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