Coverage
Amount
The coverage amounts to a total of $40,000.
Under the guarantee plan, buyers are fully protected for up to $40,000. After compensating the buyers, the plan will claim a payment of up to $5,000 from the sellers. Any amount in excess of $5,000 that is paid under the plan will be considered as normal business risk.
In short, the guarantee plan takes on a financial risk of up to $35,000.
Term and items covered
The coverage period is one year following the signature of the deed of sale. It extends to three (3) years for major defects.
With the exception of heat pumps, coverage excludes any items that are not an integral part of the main building. See the full text of the guarantee for more details.
Items covered include:
- Attic, insulation
- Foundation, walls, roof
- Siding, sub-floor
- Electricals, plumbing, heating, ventilation, air conditioning
- Doors and windows
- Water infiltration, mould, premature wear on materials
- Heat pumps
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