For the builder:
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A sales tool that sets you apart from other builders and will help you win more business. You can also add the Homefirst logo to your website.
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Help your clients reduce their risk and give them peace of mind. Remember, they are about to make the biggest investment of their lives.
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The ability to offer a guarantee may soon be a legal requirement of all Licensed Building Practitioners under the Building Act.
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Many mortgage lenders now require their customers to use a builder who can give them a guarantee, as this reduces their potential risk. If you can't offer an independent guarantee then you're probably missing out on business.
For the homeowner:
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If a project is not completed, Builtin New Zealand Ltd will encourage the builder to remedy the problem and, if necessary, appoint another builder to do so, and the written guarantee will cover or contribute significantly to the cost.
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Where the builder is the head contractor, the guarantee covers materials and work completed by the builder and the sub-contractors engaged by him, subject to the limitations and exclusions in the guarantee agreement.
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Loss of deposit, not exceeding twenty per cent (20%) of the Contract Price, or $50,000, whichever is the less.
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Pays the extra cost to complete the dwelling, not exceeding twenty per cent (20%) of the Contract Price, or $100,000, whichever is the less.
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Structural defects for 7 or 10 years.
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Non-structural defects for 2 years.
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Alternative accommodation.
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The Homefirst Builders Guarantee is backed by an independent, financially secure Standard & Poor’s rated insurance company. It's not just a bank account, which could be wiped out if too many claims are made, or no new income is generated.
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The guarantee can generally be transferred to a new owner when they sell the house. And because having a guarantee gives the buyer peace of mind it can help sell a home up to 50% faster.
Click here for the different types of guarantee you can get.
Click here for a help sheet explaining why a guarantee is important.
