The Inside Language of Real Estate Negotiation Warranties Guarantees, promises, and protections providedby one party to another. In real estate contracts, there
are usually warranties regarding the conditin of the appliances and certain fixtures. New homes often have extensive warranties covering not only fixtures and appliances, but the overall structure of the house as well. There can be
"express" (written) warraneis,"implied" warranties (guarantees that the parties intended even though they may have stated them specifically in the contracts), and "imposed"warranties (guarantees created, for example, by state law).
This Tip was excerpted from: Successful Real Estate Negotiation by Peter G. Miller, HarperPerennial, 1994 ISBN # 0-06-273264-1 |
