Know Your Stuff: Understanding defect liability period and latent defects
Congratulations! After waiting for three to four years, you finally get the keys to your brand-new house. You are excited and brimming with ideas on how to decorate your new home. If you are a first-time homebuyer, the emotions will be 100 times more intense and you cannot wait to get things done and move into your new home. But as much as you want to start decorating and possibly renovating your home, there is one very important thing you have to do first: Check for defects. There is a warranty period for your house. During this time frame, known as the defect liability period, you as a home...
Source: theedgemarkets.com