Did you buy a previously owned house recently? A new home warranty may still be in effect if the home is less than seven years old. For the most part, Ontario’s new construction warranties cover a period of seven years. A fact that you might not know is that a home warranty is transferred to the property rather than the owner. It is likely that the purchase of a resale home less than seven years old will include a warranty
The terms of the new home warranty cover whoever owns the home for seven years after the original date of possession. However, assuming ownership of a resold property isn’t enough to transfer the warranty coverage. If you’ve just purchased a previously owned house, it’s imperative that you contact Tarion as soon as possible to let us know you’ve taken ownership.
Tips for registering a house warranty on a previously owned property
It’s important to have both the purchase agreement and the deed on hand. Please provide us with a copy of these papers so we can update our records. Once we have finished making the necessary changes to our system, we will send you an email confirming the alteration, along with your enrollment number and a link to MyHome. Here at MyHome, you can easily maintain tabs on your submitted paperwork and the remaining time on your house warranty. This tool can also be used to complete and submit any warranties that may apply to you.
No company will provide extensive warranty details over the phone prior to delivery, since this would violate their customers’ privacy. Once you’ve registered as the new owner in the system, the concerned company and individual will be able to inform you whether or not the home is protected by the warranty. Moreover, it would determine whether or not it’s enrolled with Tarion.
Suggestions for ensuring that you take full advantage of any applicable warranty terms and conditions
Closing dates that fall after the warranty form submission deadline can be a problem for homeowners. Is there anything you can do to remedy the situation? Know what your warranty covers before you start negotiating with the seller. Assist them with the necessary paperwork to make sure they don’t miss the submission date.
While the seller’s priority may be getting out of the house and onto the next chapter of their lives, yours should be learning about the warranty protections you’ve earned. You should be conscientious and cooperative with the vendor in order to ensure that the warranty documents are submitted on time.
Not submitting the paperwork in a timely manner could cause critical deadlines to be missed. Visit Tarion’s Learning Hub to find out crucial information regarding home warranty coverage and deadlines. A home buyer’s best bet is to find out about the property’s warranty terms before making a purchase.
How to know the time that is remaining on the warranty?
It is advised to consult with either a real estate agent or an attorney. They can inquire directly with the seller or contact us on their behalf to get warranty details such as the date coverage began, the name of the home’s builder, and whether or not the home has been occupied.