HOME WARRANTY METHOD AND SYSTEM
First Claim
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1. A method of selling a home comprising:
- entering into a contract with a buyer to sell a newly constructed home to the buyer; and
entering into a warranty agreement with the buyer, wherein the warranty agreement;
warrants a majority of the components of the newly constructed home for a time period of at least 25 years from the date of the contract;
requires the buyer to comply with a maintenance schedule to be verified by periodic inspection; and
conditions at least a portion of the warranty on the buyer'"'"'s compliance with the maintenance schedule.
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Abstract
A method of selling a home includes entering into a contract with a buyer to sell a newly constructed home to the buyer, and entering into a warranty agreement with the buyer. The warranty agreement warrants a majority of the components of the newly constructed home for a time period from the date of the contract, requires the buyer to comply with a maintenance schedule to be verified by periodic inspection, and conditions at least a portion of the warranty on the buyer'"'"'s compliance with the maintenance schedule. The method may include collecting a transaction cost from the buyer, where the transaction cost includes a cost for the home and a cost for the warranty.
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Citations
19 Claims
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1. A method of selling a home comprising:
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entering into a contract with a buyer to sell a newly constructed home to the buyer; and entering into a warranty agreement with the buyer, wherein the warranty agreement; warrants a majority of the components of the newly constructed home for a time period of at least 25 years from the date of the contract; requires the buyer to comply with a maintenance schedule to be verified by periodic inspection; and conditions at least a portion of the warranty on the buyer'"'"'s compliance with the maintenance schedule. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A method of selling a home comprising:
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accessing a database of projected maintenance costs for a plurality of home values, wherein each cost in the database is associated with a plurality of home specifications; comparing a plurality of specifications for a newly constructed home to the specifications in the database to determine a total projected maintenance cost over the time period; establishing a warranty cost based on the total projected maintenance cost; entering into a contract with a buyer to sell the newly constructed home to the buyer; and entering into a warranty agreement with the buyer, wherein the warranty agreement; warrants a plurality of the components of the newly constructed home for a time period; requires the buyer to comply with a maintenance schedule to be verified by periodic inspection; and conditions at least a portion of the warranty on the buyer'"'"'s compliance with the maintenance schedule; and collecting a transaction cost from the buyer, the transaction cost comprising a cost for the home and the warranty cost. - View Dependent Claims (13, 14, 15, 16, 17, 18, 19)
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Specification