Do you want to know what it is, and why you should care. Then read on What is it?
Well the Home Owners Protection office (HPO) is a provincial crown agency that is responsible for licensing residential builders and building envelope renovators, administering owner builder authorizations.
What does that mean to you the home buyer.
Well it means that the new home that your purchase is built by a licensed and insured builder. The builder is require to provide a minimum insurance level called 2-5-10
. Which is 2 years on labour and materials (some limits apply), 5 years on the building envelope including water penetration, and 10 years on structure. These warrantees come into effect it one of two ways. For custom homes it is the date of first occupancy or date of first occupancy permit, whichever is first, or for spec home the date of first occupancy or date of transfer of legal title to the first owner, whichever comes first.
There are different rules for the Owner builder. The Owner builder must register with the HPO office and provide a warrantee through a 3rd party or provide the warrantee themselves. For more information read this bulletin.
How do I know if my new home is still covered
Well a home built in the past 10 years needs to be registered with the HPO office or it can’t be listed or sold. You can look up the property on the HPO site here
just keep in mind that if the house was built before November 2007 you will have to contact the HPO office directly.
Where can I get more information:
Easy go to the HPO http://www.hpo.bc.ca/ site or talk to your Black Tusk Royal LePage Realtor.