coe..., writes: <<wilson,you know the builder may be honest and you may have a mortgage but if after five years your foundation is bad ,your floors out of level,you have the house for life because you can't sell it.no lender will lend on the house.It does happen.>>
This is part of the reason why the risk in the purchase of new house from a public/corporate new house builder may equal or exceed 100%. This is exactly what the industry has lobbied for through laws similiar to The Construction Defects Claims Act, etc. The industry screams for tort reform because of frivolous lawsuits---facts do not support this baloney. The new house buyer assumes all of the risk in the purchase of a new house. Public awareness and disclosure will be the unintended consequence of what the public/corporate new house building industry has tried to achieve.
I would never buy another new house from a public/corporate new house builder, plain and simple.
Let each new house shopper be aware and make this decision for themselves.