Ontario extends cooling off period, bans some liens on homes by vendors
The measure is among a raft of consumer protections that have been advocated for by opposition politicians and citizen groups
Source: theglobeandmail.com
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Tarion expects to pay out $90 million to cover lost deposits
Tarion anticipates a payout of $90 million to cover lost deposits due to builder failures.
Source: stcatharinesstandard.ca
Tarion sees 'largest claim event' in its history as more home-owners lose deposits due to builder failures
Ontario's new-home consumer protection organization says it expects to pay home-buyers more than $90 million this year, the “largest claim event” in its history, in the wake of more receiverships and developers failing to deliver on residential projects.
Source: cp24.com
Vandyk Properties faces demand to place properties into receivership
The insolvency application covers five projects in the Greater Toronto Area, which include 1,757 unbuilt homes in a mix of apartments, townhomes and detached houses
Source: theglobeandmail.com
Loophole means buyer deposits with insolvent builder unprotected
As more developers face a challenge finishing projects amid high costs of labour and credit, the freehold-condo distinction could make a serious difference for new home buyers
Source: theglobeandmail.com