As of July 1, 2021, the province of Ontario has implemented a new Code of Ethics for builders to protect buyers and homeowners and raise professional standards for this industry. This could potentially increase consumer protection and ease of mind when purchasing a new home build.
Some of the items under the new regulation that builders are required to do:
to be financially responsible;
to not engage in any act or omission that could be disgraceful, dishonourable, unprofessional, unbecoming, or likely to bring the construction sector into disrepute;
to not engage in misrepresentation;
to be clear and truthful in describing the features, benefits and prices connected with a new home and in explaining the products, services, programs and prices connected with new home.;
shall not intimidate or coerce any person or subject any person to undue pressure; and
all representation, including advertising, made by or on behalf of the licensee in connection with a new home are not false, misleading, deceptive or illegal.
With 35 sections to the new Code of Ethics and Discipline and Appeals under the New Home Construction Licensing Act, 2017, S.O. 2017, c. 33, Sched 1, there are items that all potential homeowners and current homeowners should be aware of.
Read the full code HERE
In addition to the new Code of Ethics, Tarion’s dispute resolution and new home warranty and protection claims process are getting new inclusions:
support a simplifies claims process that is easier for consumers
improve transparency by requiring Tarion to provide claimants with expert opinions when it issues a warranty assessment report
enable homeowners who dispute Tarion’s assessment of their warranty claim to request that Tarion participate in mediation
If you have any questions, Carson Law reviews Purchase and Sale Agreements for new home builds.
Or see what else we can do in Residential Real Estate.
Contact us today!
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