The Macchiusi Sales Team, Weiss Realty Ltd Brokerage (2021)
The Ontario government is introducing a new Code of Ethics for home builders to further strengthen protections for buyers and owners of new homes. The changes will come into effect on July 1, 2021, and will support greater transparency through the new home buying process for all Ontarians, while improving a standard of work and professionalism that reflects the best of Ontario’s homebuilding industry.
In general, the new code encourages licensed builders to behave with integrity, honesty and not intimidate or coerce potential buyers. A key requirement is that builders “shall be clear and truthful in describing the features, benefits and prices connected with a new home.” The code also seeks to ensure that any advertising related to new homes is not “false, misleading, deceptive or illegal.”
In addition to the Code of Ethics, the province will provide the Home Construction Regulatory Authority (HCRA) – responsible for licensing new home builders – with a new discipline committee and appeals committee process to make it easier for homeowners and buyers to settle disputes and hold bad actors accountable. HCRA has the right to deny licences if it feels builders are not adhering to the provisions of the Code of Ethics.
You can read the province’s new release for more information here.
The Macchiusi Sales Team - Weiss Realty Ltd. Real Estate Brokerage (2021)