Understanding a New Home Sales ContractBuying a brand-new home can mean a lot of different things — an opportunity to get the home you really want, a dream come true, an investment for the future, an achievement to be proud of. It is also a legal transaction that should never be done without a detailed written contract! The first rule of homebuying is to get it in writing! A contract, or Agreement of Purchase and Sale, as it is often referred to, spells out the terms between you and your builder — who, what, how, when and how much. It also sets out the rights, restrictions and obligations for each party. Without a detailed contract, there may be no reference point in case of a misunderstanding or disagreement between you and your builder. It may be impossible to prove what was agreed to, and difficult to enforce any arrangement or promise that’s not written down. Unlike resale transactions, there is no standard form of Agreement of Purchase and Sale for buying a new home. In some areas, builders may adapt model contracts prepared by their local home builders’ association or their new home warranty provider. Often, though, builders prepare their own agreements and require that you use those forms. As a result, new home contracts can vary considerably from one builder to another. Typically, a contract will contain information that’s specific to you, the purchaser, and the home you are buying, as well as general information outlining the builder’s practices, limitations, disclaimers and warranty. This fact…
Tarion Home WarrantyA new home may also be the most significant purchase you ever make. In addition to the financial commitment, there are a number of lifestyle and home design options you may need to consider. That’s why it’s so important to do your homework and gather as much information as possible about your potential new home before you sign the Agreement of Purchase and Sale. To help prepare you for your purchase, we’ve created Top Ten Tips for New Home Buyers. It’s a step-by-step list that provides research ideas, financial and legal resources, as well as practical maintenance advice. Together these tips will go a long way to ensuring that you’re very happy with your new home. Tarion provides important protection before and after your new home purchase When you buy a new home or condominium in Ontario, you enjoy the benefits of a comprehensive builder warranty. To learn more about this warranty, you can preview or print a copy of our concise, easy-to-read brochure entitled “Warranty Coverage for New Homes in Ontario“. Your new home warranty begins before you even move in. Once you provide the down payment for your new home, it’s protected. You also have a right to compensation if your builder delays the closing of the sale without giving you proper notice. See Understanding Deposit Protection and Understanding Delayed Closings and Occupancies to learn more. Before you take possession of your new home or condominium, your builder will walk you through…
THE ENTERTAINER'S DREAM YARD.. NEVER LEAVE HOME AGAIN! THIS ONE OWNER BRICK TO ROOF 1695 SQ FT RANCH OFFERS 3 + 1 BEDROOMS, 3 FULL BATHS, A SPECTACULAR GAMES ROOM AND FAMILY ROOM IN THE FULLY FINISHE…
ONE OWNER HOME!!! PRIDE IS EVIDENT IN THIS WELL MAINTAINED 3 BEDROOM 2 STOREY IN MUCH SOUGHT AFTER RIVERSIDE LOCATION, MINUTES FROM ALL AMENITIES. FULL CONCRETE DRIVE TO OVER-SIZED 2 CAR DETACHED GARA…
SPECTACULAR WOODED REAR YARD AND LINED TO THE SOUTH WITH TREES AS WELL AND BACKING ONTO THE BELLE RIVER, THIS 3.5 ACRE BUILDING LOT AWAITS A FAMILY TO BUILD AND CALL IT HOME. SEPTIC TANK REQUIRED, WA…
WELCOME HOME!!! THIS WELL MAINTAINED 3+1 BEDROOM RAISED RANCH(approx 1300 sq ft) IN THE MUCH SOUGHT AFTER MONARCH MEADOWS AND THE ABUTTING SCHOOL DISTRICT OF LAKESHORE DISCOVERY, ST WILLIAM, ST ANNE …
CURB APPEAL GALORE ON THIS STUNNING 2915 SQ FT BRICK TO ROOF CUSTOM BUILT HOME PLUS FULL HIGH & DRY BMSNT ON JUST UNDER 1 ACRE. PLENTY OF NATURAL LIGHT GREETS YOU AS YOU ENTER THE GRAND FOYER. OPEN CO…
LAST 1 ACRE LOT LEFT, SEPTIC TO BE INSTALLED WATER CONNECTION AND FRONT DRIVEWAY CULVERT BOTH INSTALLED AND PAID FOR. BUILD YOUR DREAM HOME AMONGST THE OTHERS BUILT HERE. MINUTES FROM BELLE RIVER OR S…
GREAT INVESTMENT OPPORTUNITY! REMARKABLE 3 BDRM, 2 BATH HOME LOCATED ON QUIET DEAD END STREET. OPEN CONCEPT KITCHEN FEATURING HRWD FLRS & PATIO DOORS TO LRG DECK. ROOF REPLACED AUG 2019. TAKE IMMED PO…
WELCOME TO THIS TECUMSEH TREASURE! 185 ST. PIERRE IS A LARGE 1.5 STOREY HOME WITH A HUGE (8 CAR) FRONT DRIVE, COVERED FRONT PORCH, ATTACHED GARAGE AND FENCED YARD. THE MAIN FLOOR FEATURES A HANDY MUD …
MOVE IN BY LABOUR DAY! BRICK TO ROOF RANCH, W. OF BELLE RIVER IN MONARCH MEADOWS. HIGHLIGHTS INCLUDE 3-4 BDRMS, 2.5 BTHRMS, CATHEDRAL CEILING IN LIV RM W/FOCAL GFP, DIN RM, BAMBOO FLRING, UPDATED SNOW…
THIS BRICK RAISED RANCH WITH 3 BEDROOMS AND 2 1/2 BATHS BACKING ONTO THE WATER, PIKE CREEK, WITH ACCESS TO LAKE ST CLAIR. DRIVER YOUR SMALL BOAT OR SEADOO RIGHT UP TO YOUR BACKYARD DOCK/SUNDECK. OPEN …
STUNNING 3+2 BDRM, 2 FULL BATH, ALL BRICK RANCH IN DESIRABLE RIVERSIDE LOCATION. THIS HOME FEATURES ULTRA MODERN CUSTOM KITCHEN W/GRANITE COUNTER TOPS. LIV RM FEATURES HWRD FLRG W/STONE FIREPLACE. NEW…
3 STOREY APARTMENT BUILDING, 15 LARGE 1 BDRM UNITS. BUILT IN 1924, THIS BUILDING HAS LOTS OF CHARACTER, UNITS FEATURE LARGE BDRM, LIVING RM, DINING RM, KITCHEN AND A 4 PIECE BATH, HARDWOOD FLOORS IN M…
