August 31, 2026
The Home Construction Regulatory Authority (HCRA) has secured $215,000 in court-ordered restitution for homebuyers following the prosecution of Exquisite Bay Development Inc. and its Director, Ahmed Raza Yousuf, for selling new homes in Mississauga without a valid HCRA licence.
Exquisite Bay continued new home sales activities after its licence renewal was refused in March 2021.
On June 19, 2026, Exquisite Bay and Yousuf pleaded guilty to four charges of selling new homes without an HCRA licence.
In addition to the $215,000 in restitution ordered to compensate affected purchasers, the company and Yousuf were ordered to pay a combined $18,750 in fines and victim surcharges.
Under Ontario regulations, individuals and companies must be licensed by the HCRA to legally build or sell new homes. Once a licence renewal is refused, the builder or seller can no longer conduct activities related to building or selling new homes, including entering into or assigning agreements of purchase and sale.
The HCRA launched its investigation after receiving complaints from purchasers connected to a residential development in Mississauga, Ontario.
Investigators found that Exquisite Bay entered into or assigned two agreements while operating without a new home seller licence.
In one case, purchasers signed an agreement of purchase and sale for a pre-construction home and paid a $200,000 deposit. In another case, purchasers attempting to assign their agreement to another buyer were charged a $15,000 assignment fee by Exquisite Bay.
The homes were never built after the development lands were sold, and the purchasers’ money was not returned.
The HCRA subsequently pursued legal action that resulted in the charges, guilty pleas, financial penalties and court-ordered repayment to the affected homebuyers.
HCRA CEO and Registrar Wendy Moir said the case demonstrates the importance of Ontario’s licensing requirements and the financial risks homebuyers can face when dealing with an unauthorized builder or seller.
Ontario homebuyers are encouraged to check the Ontario Builder Directory before entering into a new home purchase agreement.
The directory provides current information about builders and sellers, including their licensing status, previous projects and regulatory history, helping purchasers verify whether a company is legally authorized to build or sell new homes in Ontario.
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