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Old 2008-06-29, 11:19 PM
nick laverntile nick laverntile is offline
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Talking Tarion new warranty (July 01)

Hey guys,
anyone you know buying a new home after July 01... well the new warranty will come info effect to protect us buyers.

Wish I was convered but since I bought b4 July 01, I will have to hope that Starlane dont stiff me and close late.

Please read at tarion website;

http://www.tarion.com/HOME/Resource+...ation+Package/


It is about time we buyers are protected.

good stuff!
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Old 2008-06-30, 12:37 PM
thepdiguy thepdiguy is offline
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For detailed information on this change look for Builder Bulletin 46 for freehold homes and 47 for condominium on Tarion's website. These bulletins are about new statements being included in purchase agreements that deal with closings and delayed occupancy. In all agreements going forward a Statement of Critical Dates will be included and may either be based on a Firm Closing Date Schematic or a Tenantive Closing Date Schematic. In a Firm Closing Date Warranty if the Builder can not close the home on the date given then the purchaser is entitled to delayed occupancy compensation and the builder has to set another outside closing date of up to 365 days after the initial closing date. In a Tenative Closing date Warranty the purchaser can have up to 3 closing dates that are set out in the statement. The first one, the second up to 120 days after the first provided written notice is received within the 90 day time frame, and lastly 90 days after the second. The New Home Owner package seems to be providing a little more information in warranty process but it is still the same basic document. I highly recommend reading this through before any appointments etc... Builders are required to give you a copy of this document but many don't until PDI.

http://www.tarion.com/HOME/New+Home+...rBulletins.htm
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Last edited by thepdiguy; 2008-07-02 at 02:37 PM.
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Old 2008-07-01, 12:20 AM
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aulikh aulikh is offline
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Quote:
Originally Posted by nick laverntile View Post
Hey guys,
anyone you know buying a new home after July 01... well the new warranty will come info effect to protect us buyers.

Wish I was convered but since I bought b4 July 01, I will have to hope that Starlane dont stiff me and close late.

Please read at tarion website;

http://www.tarion.com/HOME/Resource+...ation+Package/


It is about time we buyers are protected.

good stuff!
hey come onnnnnnnn Nick u r still covered doesn;t matter if u signed before July 01 but u r taking possession after july 01........Rn;t U?..........

Ash
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Old 2008-07-01, 01:49 PM
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GregS GregS is offline
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Quote:
Originally Posted by aulikh View Post
hey come onnnnnnnn Nick u r still covered doesn;t matter if u signed before July 01 but u r taking possession after july 01........Rn;t U?..........
Huh? I think there are some keys missing on your keyboard.
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Old 2008-07-01, 05:15 PM
S and B S and B is offline
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My builder told me that since we signed our contract prior to July 1st, we are not covered by the new warranty...even though we are only taking possession next summer...

According to the Tarion link above, however, it says that anyone taking possession after July 1 is covered. what should i believe?
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Old 2008-07-01, 05:18 PM
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aulikh aulikh is offline
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Quote:
Originally Posted by S and B View Post
My builder told me that since we signed our contract prior to July 1st, we are not covered by the new warranty...even though we are only taking possession next summer...

According to the Tarion link above, however, it says that anyone taking possession after July 1 is covered. what should i believe?
Exactly .......wht should we believe?
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Old 2008-07-02, 02:45 PM
thepdiguy thepdiguy is offline
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The changes are for agreements signed after July 1st 2008 and deal with delayed occupancy. Agreements signed prior to July 1st are still protected under the warranty the change is mainly in that a schematic will be included and a addendum with critical dates will be added to your purchase agreement. You can view the statments at [url]http://www.tarion.com/HOME/New+Home+Builders/Policies+and+Guidelines/BuilderBulletins.htm
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Last edited by thepdiguy; 2008-07-02 at 03:46 PM.
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Old 2008-07-02, 03:20 PM
nick laverntile nick laverntile is offline
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Unhappy read plz... before commenting

Thanks PDI guy for clearing that up.

I suggest to all who have a problem understanding the new Tarion warranty to let your lawyer explain. I think the new warranty was made in very clear English. Any other version would have to be titled ".... for dummies".

No offence to anyone.
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