Half-finished homes and lots of questions after Alberta homebuilder goes into receivership [CBC (Canadian Broadcasting Corporation)]
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Source: CBC
Half-finished homes and lots of questions after Alberta homebuilder goes into receivership Provincially required warranties will cushion financial fallout for some, but gaps remain A neighbourhood in Chestermere sits half finished as the snow falls, it blankets construction materials which haven't been touched in weeks. Those who have money sunk into houses are left to wonder what will happen to their future homes and their investments as the homebuilder goes under. ReidBuilt Homes is one of Alberta's largest homebuilders and on Thursday it lost its court battle to restructure its debt and fell into receivership after the Royal Bank of Canada sought to collect more than $64.6 million. Colin Gill is one of the home buyers who already took possession of his new house in the Chestermere neighbourhood of Westmere Estates, but seven months into ownership, he's still coming across defects the builder said it would address. Now it appears that won't be happening despite all the reassurances
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