Final answer:
A warranty period on a new home begins on the date of closing when the title and possession are transferred from the seller to the buyer.
Step-by-step explanation:
When does a warranty period begin on a new home?
A warranty period on a new home typically begins on the date of closing, when the title and possession of the property are transferred from the seller to the buyer. It is important for the buyer to carefully review the terms of the warranty to understand the duration and coverage provided. In some cases, the warranty period may start on a specific date, such as the completion of construction or the issuance of a certificate of occupancy.
For example, let's say you purchase a new home and the warranty period is stated as one year from the date of closing. That means any issues or defects covered by the warranty will be the responsibility of the builder or developer for the first year after your closing date.
It's worth noting that warranty periods may vary depending on the builder, contract terms, and local regulations. It is always a good idea to consult with a real estate professional or lawyer to ensure you fully understand the warranty terms and conditions.