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Avoid the Risks: Take Steps to Ensure a Home Can be Legally Sold
Avoid the Risks: Take Steps to Ensure a Home Can be Legally Sold
- STEP 1: Search the HPO’s New Homes Registry. Enter the home’s address or legal description to find out if the home has a policy of home warranty insurance, or if it is built under an exemption, such as an Owner-Builder Authorization. Checking online is a fast, simple way to find out if the home can legally be offered for sale – and it’s recommended whether you are acting for a seller or a buyer.
- STEP 2: Advise owner-builder clients to file occupancy permit information promptly, so the HPO can verify the information and provide an Owner Builder Disclosure Notice well in advance of any offers for sale.
- STEP 3: Ensure that any prospective buyers within the ten-year period receive an Owner-Builder Disclosure Notice. Insert the Receipt of Owner-Builder Disclosure Notice Clause into the Contract of Purchase and Sale to confirm that the buyer received the notice.