Signature Homes Launches Completion Guarantee
by Simon Lord, last updated on 29th July 2009
Building franchises Signature Homes has launched a home completion guarantee to build customer confidence
Fourteen Signature Homes franchises across New Zealand have just announced the launch of the Signature Homes Home Completion Guarantee. The Home Completion Guarantee is a unique guarantee to finish a buyer's home in accordance with their Building Agreement in the event that a Signature Homes franchise builder encounters financial difficulty and is unable to complete the build.
Signature Homes Guarantees Limited, a separate company, will manage the guarantee programme, which has been issued with a performance bond to protect homebuyer deposits and progress payments. All franchises contributed financially to the programme and all homebuyers who sign a new contract with Signature Homes will be covered under the new Home Completion Guarantee.
The key point of difference for the Home Completion Guarantee is the absence of deposit limits and claim maximums. Another major promise is that Signature Homes will appoint a new builder to complete a buyer's home in the event that this becomes necessary.
Signature Homes came under the spotlight last year when its Wellington franchisee failed for a second time, leaving customers with part-built homes facing uncertainty until the franchisor stepped in to complete their homes (see Dealing With Bad Press ). The new Completion Guarantee is a clear attempt to address that issue and create a positive outcome from the experience. Brad Hay, the company's National Sales Manager, says the response to the Home Completion Guarantee over the past week has been ‘a mixture of interest, relief and renewed confidence.'
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