The coverage amount totals $40,000.
Buyers are completely protected, up to $40,000, under the guarantee plan. After having compensated the buyers, the plan will claim a payment of up to $5,000 from the sellers. Any amount exceeding $5,000 paid under the plan will be attributed to normal business risk.
In short, the guarantee plan takes on a financial risk of up to $35,00
The coverage period is one year following 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 guarantee copy for more details.
Items covered include: