Province Announces New Protections for Buyers and Sellers of New Homes

OREA was pleased to see the Government announce the creation of a New Home Builder Code of Ethics earlier today. The new Code of Ethics, under the New Home Construction Licensing Act, 2017, will further strengthen protections for buyers and owners of new homes by requiring builders and vendors to operate in a professional manner with honesty, integrity, and financial responsibility.

In addition to the Code of Ethics, the Province will provide the Home Construction Regulatory Authority with a new disciple committee and appeals committee process to make it easier for homeowners and buyers to settle disputes and hold bad actors accountable.

The changes will come into effect on July 1, 2021 and will support greater transparency through the new homebuying process for all Ontarians.

To read OREA CEO Tim Hudak’s statement on the announcement, you can visit here. You can also read the Province’s new release for more information here.

If you have any questions, feel free to contact me at any time.

Respectfully,

Lindsay Stevens

Senior Manager, Policy & Public Affairs

LindsayS@orea.com 647-746-8614

OREA has been advocating for the Province to end the two-tier system of consumer protection to ensure that Ontario’s consumers have the same level of consumer protection when buying a home from a REALTOR® or a new home from a builder.

OREA was pleased to see the Government announce the creation of a New Home Builder Code of Ethics earlier today. The new Code of Ethics, under the New Home Construction Licensing Act, 2017, will further strengthen protections for buyers and owners of new homes by requiring builders and vendors to operate in a professional manner with honesty, integrity, and financial responsibility.

In addition to the Code of Ethics, the Province will provide the Home Construction Regulatory Authority with a new disciple committee and appeals committee process to make it easier for homeowners and buyers to settle disputes and hold bad actors accountable.

The changes will come into effect on July 1, 2021 and will support greater transparency through the new homebuying process for all Ontarians.

To read OREA CEO Tim Hudak’s statement on the announcement, you can visit here. You can also read the Province’s new release for more information here.

If you have any questions, feel free to contact me at any time.

Respectfully,

Lindsay Stevens

Senior Manager, Policy & Public Affairs

LindsayS@orea.com 647-746-8614

Author: bramptonrealestateboard

At the Brampton Real Estate Board (BREB) we believe in the ownership of Real Estate. Our objective is to contribute to the capability and growth of our members in their endeavors by marketing all forms of real property throughout the greater Brampton, Halton Hills and Caledon marketplaces and beyond. The Brampton Real Estate Board is dedicated to providing an environment in which it’s Member REALTORS®, employees, Board of Directors, and Committee volunteers are encouraged to grow, succeed and develop in order to provide the highest level of professional conduct and service.

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