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Urban Legends Have No Place in Real Estate

By
Real Estate Agent with Allen Tate Realtors

For several years after I first began my career in Real Estate, I kept hearing that the state of SC provided buyers with a 13 year home warranty on structural issues.  Thinking this was just too good to be true and not ever having seen a copy of such a warranty, I did some research.

A phone call to our South Carolina Association of Realtors Attorney revealed it is not true, but that is it a "statute of Repose" or a right to sue.  It has since been reduced to 8 years.  My reason for writing about this on AR is to inform the public that there is NOT A BUILDER WARRANTY PROVIDED BY THE STATE OF SC.  There is no such animal.  It simply allows buyers the right to sue the builder for serious structural issues on a new home they have purchased, assuming the builder is still in business.

I actually showed a home that had this written on the MLS Listing this past week with the following terminology on it.  "The builder provides a one year home warranty (true) and the State 8 year home warranty picks up after that"(false).  I called the agent and told her that I had researched it and asked her to also call them if she doubted what I was saying.  Apparently, the builder she was representing had told her there was an 8 year State home warranty.  She has since removed the terminology from the listing sheet.  My buyers made an offer and have a contract to purchase the home.  However, I informed them immediately that this statement on the MLS sheet was not true.  Her intentions were not bad, she appears to be a good agent who was misinformed and who believed her builder who told her that.   Trust is good, but verification is our duty.

Our local Association periodically sends out this message also, but it would appear that not every agent hears that.  Urban Legends abound on the internet, but have no place in Real Estate.  Let's all take time to search out any issue that we do not have solid proof of.  Anything we tell our buyer or seller clients should be true.

John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Certainly good advice, Sheila. I'd never heard of the SC warranty, but if I had, I'd certainly want it confirmed. If it sounds too good to be true .....

 

Apr 18, 2009 01:27 PM
Bruce & Mary Smith
Savannah Lakes Homes - McCormick, SC
REALTORS, Savannah Lakes Village McCormick SC

Sheila - Unfortunately - as you well know - there are many things 'on the books' that aren't as they seem!  It' just the way things are but that's no excuse for misleading the public!

Mary

Apr 18, 2009 11:51 PM
Anonymous
Sheila Reeves

John, so now you have a heads up in the event it comes up in your area.

Mary, yes, this is true and I agree with your comment of no excuse for misleading the public. 

Apr 19, 2009 01:55 AM
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