WOW we as a home inspector seem to carry more Liability then does the home builder .
Somehow, this to me does not balance .
**The ins and outs of homewarranties **
By Kimberly Greene | this page was last updated on the 26 Oct2016
By law, every builder of residences in Ontario must be registered by Tarion Warranty Corporation](http://www.tarion.com/Pages/default.aspx),a private corporation financed entirely through the fees paid by its members(residential building contractors). Tarion administers the Ontario New HomeWarranties Plan Act, which outlines the warranty protection that new home andcondominium builders must provide by law to their customers. The warranty canbe for one, two, or seven years, and covers homes in the event of poorworkmanship, water penetration, and major structural defects. This warrantyalso covers delayed closing and deposit protection.
Coverage varies depending on the type of home you buy. For example, homes builton existing footings or foundations are not covered. What is covered: downpayments, up to $20,000 for a condo and $40,000 for a single-family home;visible construction defects and unapproved substitutions for a period of oneyear; water infiltration and defects in the electrical, plumbing and heatingsystems, as well as in the roof and siding, are covered for two years; andmajor defects in the structure are covered for seven years. The maximumcoverage for a single-family house or a condo is $300,000. Common portions ofcondominium buildings are covered for $50,000 multiplied by the number ofunits, up to $2.5 million.[/FONT]