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Updated almost 9 years ago,
Commercial developer is required to supply warrant for new units?
Hi,
My name is isaac, I've just moved to the states following my american wife :)
I've done commercial real estate in Europe, so now i'm trying to fill up the gaps and understand the differences between the rules applicable on developers in each country.
Commercial developing in countries I worked in has some rules regard the warranty for a new home, in Israel for example every developer is obligated with 7 years full warranty for each new unit being sold.
It means that in some bigger projects, you need to put some money in trustee for future problems may raise with those units.
That being said, I'm looking for my first deal in the states, Multi family with 5-10 units, in DC and/or NYC, what will be the rules regard the warranty issue?
Thank you for your help!
Isaac.