Did you know…
“It is illegal for a builder to enter into an Agreement of Purchase and Sale or construction contract with a purchaser if the builder is not registered with Tarion. It is also illegal to begin construction of a home or condominium without first enrolling it with Tarion. Offenders will be charged by Tarion under the Ontario New Home Warranties Plan Act.”
In fact, there’s a number of builders that have been fined… More than you might expect! Looking at the ones over the last three years, at this link here, you can see more than a dozen, just in Oakville, some of them, well known names! This may also make you question the quality of a builder, if they are avoiding proper process in a build.
What does this mean to you, buying a new home on the “resale” property market through MLS? Well, it’s not resale if the original home was removed from a lot and a new one built in it’s place, not using any part of the old home. There are also other qualifiers to if the home needs to be Tarion registered, but they’re more the exception than the norm.
What do you do if a New Home isn’t covered by Tarion? Not sure? Need to report?
Good Realtors, help you with this and will check this if you’re buying a new build where an old home once existed. (As well as many other things they check for your protection, as part of their duty to you as a client.)
Be Protected. Be Informed. Let an Expert Guide You. Want to look at more information on Tarion? Check them out here…