Over the past few years we have seen quite a few people buy a brand new home from a builder (who is registered as a Builder under Tarion in Ontario) only to sell it shortly thereafter without ever moving in.
Tarion, who is the Ontario New Builder's Warranty Association (www.tarion.com for more info) has changed their rules in terms of how the Warranty will be affected for someone who does just that.
Full disclosure is required between the Seller and the Buyer of such a property, as well as the Seller/Flipper is required submit (this is the change that Tarion has instated to their warranty) a New Home application with Tarion, and pay a $350 fee just as if it was a NEW home being bought directly from a builder. Even though the Re-Sellers are responsible for making the application to Tarion, the Seller's Realtor needs to ensure the clients are made aware of these requirements to protect themselves and their clients.
Flav Onsen
Sales Rep.
Royal LePage Wolle Realty