Tarion Repair Agreement: Everything You Need to Know

Buying a new home is one of the biggest investments that you will ever make in your life. It is important to ensure that everything is in order before you move into your new home. This is where the Tarion Repair Agreement comes into play. In this article, we will discuss the Tarion Repair Agreement and everything you need to know about it.

What is Tarion Repair Agreement?

Tarion is a non-profit organization that deals with new home warranty protection in Ontario, Canada. The Tarion Repair Agreement is a mandatory agreement that the builder must provide to the homeowner before closing. It is a legal document that outlines the obligations and responsibilities of the builder and the homeowner with regards to repairs and maintenance.

The Tarion Repair Agreement covers defects in workmanship, materials, and installations, which become apparent during the first year after the closing date. This is known as the one-year warranty period. During this period, any defects that are covered by the Tarion Repair Agreement must be reported to the builder in writing. The builder then has 30 days to respond to the homeowner`s claim.

After the one-year warranty period, the Tarion Repair Agreement covers major structural defects for a period of seven years. Major structural defects are defined as defects that affect the load-bearing portion of the home, such as the foundation, the roof, and the walls.

What does the Tarion Repair Agreement cover?

The Tarion Repair Agreement covers a wide range of defects that may arise in a new home, including defects in workmanship, materials, and installations. This includes defects in plumbing, electrical systems, heating and cooling systems, windows and doors, and roofing.

The Tarion Repair Agreement also covers any defects in the common areas of condominiums and co-operatives. This includes defects in the building structure, exterior and interior finishes, and any common systems, such as elevators, heating and cooling systems, and plumbing.

What are the benefits of the Tarion Repair Agreement?

The Tarion Repair Agreement provides several benefits to new homeowners, including:

1. Peace of Mind: The Tarion Repair Agreement provides new homeowners with peace of mind knowing that any defects in their new home will be repaired by the builder.

2. Financial Protection: The Tarion Repair Agreement provides financial protection to new homeowners by ensuring that the builder will repair any defects covered by the agreement.

3. High-Quality Standards: The Tarion Repair Agreement sets high-quality standards for new homes, ensuring that homeowners receive a quality product.

4. Legal Protection: The Tarion Repair Agreement is a legal document that provides homeowners with legal protection if the builder fails to repair any defects covered by the agreement.

Conclusion

In summary, the Tarion Repair Agreement is a mandatory agreement that provides new homeowners with peace of mind, financial protection, and high-quality standards for their new home. It is important to note that the Tarion Repair Agreement only covers defects that become apparent during the warranty period. It is the responsibility of the homeowner to report any defects in writing to the builder within the specified time frame. If you are buying a new home, make sure that the Tarion Repair Agreement is provided to you before closing.