Looking to buy a home in a new subdivision in Strathroy?
Part 9, in our series of Purchasing in a New Subdivision in Municipality of Strathroy-Caradoc
I gave my builder a deposit when I bought my home. When do I get my money back?
Builders often require deposits before closing to ensure that new homeowners do not alter the grading of their lot before final certification. The Municipality does not require the Builder to take these deposits. Lot grading deposits are taken by the Municipality with the issuance of a Building Permit. The homeowner should check their Agreement of Purchase and Sale to determine when the Builder will return the deposits.