It is very important to both those considering building a home for themselves to live in and to those considering buying a re-sale home that is less than 10 years old to understand the ramifications of these actions. Specifically, if you are the Owner-Builder and you want to sell your home what you are responsible for to the new owner and if you are the Buyer to know exactly what you are getting into. If you are the buyer be sure to have your realtor check the building permit issued to build the home to see how it was taken out at the time of construction. This is how you know if it is an Owner-Built or Licensed Builder home.