When you’ve signed the purchase agreement for your pre-construction house or condo unit, all you can think about is how excited you are to move in.

While most new homes are completed and ready for move-in by their scheduled closing dates, there is always a risk that there could be delays. You can’t predict delays, but you can prepare for them by understanding what may cause them, and how you’re protected if they happen.

In this episode of Tarion Talks, we dive deeper into the topic of delayed closings and their warranty coverage. Host Diana Pham is joined by Ryan Ding, a Tarion Warranty Services Analyst who is also an expert when it comes to delayed closings.

Topics discussed in this episode include:

• Different factors that may cause a new home to be delayed;
• An overview of the different types of closing and occupancy dates (including the difference between “firm” and “tentative” dates);
• Steps homeowners can take, and helpful tools to use, in the event that your builder cannot meet your agreed-upon closing or occupancy date;
• Circumstances under which your builder may amend your agreement and/or extend your closing/occupancy date;
• Closing/occupancy delay compensation, and steps you should take when submitting a claim to Tarion.