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…
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…
THIS IS NOT YOUR USUAL TOWN HOME. BEAUTIFULLY APPOINTED 3 BDRM, 3 FULL BATH TOWNHOME IN BEAUTIFUL TECUMSEH TOWN. BOTH FLRS OFFER HRWD & TILE THRU-OUT. MAIN FLR IS APPROX 1650 SQ FT & OFFERS LIV RM W/G…
SOLID FAMILY HOME IN AWESOME SOUTH CENTRAL LOCATION OFF HOWARD AVE. SOUTH OF TECUMSEH EAST. HARDWOOD FLOORING THROUGHOUT. SOLID BRICK CONSTRUCTION, FULL UNFINISHED BASEMENT HAS NEVER FLOODED. UPDATED …
UNIQUE OPPORTUNITY ON THE WATERFRONT IN WINDSOR ONTARIO. OVER NINE ACRES OF DEVELOPMENT LAND WITH 520 FEET OF WATER FRONTAGE AND STEEL PILING COMMERCIAL DOCKING SLIP APPROXIMATELY 500 FEET LONG. POTEN…
STOP WHATEVER YOU'RE DOING, THERE'S NO NEED TO LOOK ANY FURTHER. WELCOME HOME TO WESTCHESTER AT THE LAKE. STEP INSIDE THIS STUNNING CONDO & YOU WON'T WANT TO LEAVE. THIS BEAUTIFULLY FINISHED CORNER UN…
COMMERCIAL DEVELOPMENT SITE ON CORNER OF FRONT RD (HWY #18) & MALDEN (COUNTY RD 3). APPROX 1.395 ACRE SITE FORMER LOCATION OF GROCERY STORE & GAS PUMPS. ENVIRONMENTAL REPORTS AVAILABLE. PURCHASER TO …
LARGE 4-LEVEL BACK-SPLIT IN A VERY DESIRABLE NEIGHBOURHOOD IN THE TOWN OF LASALLE. 15 YEAR OLD HOME WITH 3 BEDROOMS, 2.5 BATHROOM, FULL LOWER LEVEL AND AN ATTACHED 2 CAR GARAGE. HARDWOOD FLOORS, GRANI…
PRIME LOCATION FOR THIS 3 BR, 2 BATH RAISED RANCH IN THE HEART OF LASALLE. UPDATED KITCHEN + BATH, FAMILY ROOM WITH FIREPLACE. FURNACE AND WINDOWS 2016, ROOF 10 YRS(APPROX) BEAUTIFUL 100 FT LOT. INCLU…
MOVE IN CONDITION, YOUNG FAMILY HOME WITH LOTS OF UPDATES, NEWER ROOF, WINDOWS AND DRIVEWAY. REMODELED BATHROOM, GRANITE ISLAND IN THE KITCHEN AND INCLUDES ALL APPLIANCES. LARGE PRIVATE BACKYARD WITH …
COMMERCIAL STOREFRONT W/2 BDRM APTS & LRG PAVED SIDE PRKG LOT SITUATED ON NORTHEAST CORNER OF WESTCOTT & SEMINOLE ST. POSSIBLE RESIDENTIAL LOT FRONTING ON WESTCOTT. OWNER OCCUPIES APPROX 725 SQ FT COM…
COZY SOUTH WINDSOR BUNGALOW HAS BEEN CAREFULLY MAINTAINED BY LONGTIME GENTLE OWNER. GREAT LOCATION NEAR DEVONSHIRE MALL, AND IN A PRESTIGIOUS AREA OF NEWER HOMES. LOTS OF UPGRADES INCLUDING WINDOWS, …
