Prop 202....Homeowners

With all of these propositions requesting (Begging) for votes, who has time to actually read (15 pages each) and actually know what they are voting for, well I decided to write about prop 202 Homeowners bill of rights, here is “The good & The ugly” about this proposition, and the key points hope it helps.
I had been in the real estate market working as a Realtor, and investor for over 5 years, so I can see the issue from both sides of the coin. Right now the law states that builder are required to only give homeowners up to one year in warranties for any construction defects on new houses, the new law will require builders to provide a 10 year warranty. I purchased a new home on 2006, and as a homeowner I was able to experience the “ugly” about dealing with builders. Houses usually start to break down on the second or third year, however in my case the house I bought started to give trouble on the last six months of the first year, getting the house fix by the builders subcontractors was just a nightmare, not only because of the tons of paperwork, but also the “things” that were not covered by the insurance, and off course the hourly fee of plumbers and carpenters, that if the fix takes longer that what they had estimated will have to came up from your already poor pocket. The previous law also stated that arbitration should be used before going to court, in order to settle disputes with builders, the new law states that litigation should be the way to settle thing now. In this subject, I will speak as a Realtor that actually had to experience one of his customers getting “bust” by the builder’s lawyers. The scenario was that the buyer bought new house, and on the month 12 after the purchase, a huge crack on the ceiling appeared, when buyer contacted the insurance, they denied the claim stating that the coverage was over, my client decided to take them to court ( big mistake) hired a lawyer, and proceeded with the lawsuit, the day of the trial, I was able to see my client and his brave lawyer, and in the other side, no kidding six lawyers that were defending the homebuilder, well to make the story short, my client lost, and on top of him dealing with a crack on the ceiling he end up paying the court costs for the homebuilder. Big lesson!