Our government is further strengthening consumer protections for new home buyers by doubling the maximum monetary penalties for unethical builders and vendors of new homes who unfairly and illegally cancel projects or terminate purchase agreements.
Proposed changes under the New Home Construction Licensing Act (NHCLA), would, if passed, increase existing maximum financial penalties from $25,000 to $50,000 per infraction, with no limit to additional monetary penalties.
Under these new changes, greedy developers could now be on the hook for hundreds of thousands of dollars in fines for each infraction.
consumers who have been adversely affected by builders and vendors who break the law.
We are also doubling maximum financial penalties for repeat offenders of the New Home Construction Licensing Act (NHCLA), with individuals now facing charges of $100,000 and corporations of $500,000, up from $50,000 and $250,000 respectively. Individuals found guilty may also face a sentence of up to two years in prison.
The Home Construction Regulatory Authority (HCRA) would also have the authority to impose financial penalties retroactively to transgressions that occurred on or after April 14, 2022.
Unethical developers who engage in these practices now also face the risk of permanently losing their builder’s licence. : https://www.dropbox.com/scl/fo/7z7o9rmyj9bh3vi6vbpg1/h?dl=0&rlkey=orntjlcgic8b8pc4h9nq669mo