Effective November 2, 2017 Alvarez and Marsal Canada Inc, was appointed as Receiver and Manager of all current and future assets, undertakings and properties of every nature and kind whatsoever, belonging to Reid Built Homes Ltd., 1679775 Alberta Ltd., Reid Worldwide Corporation, Builder’s Direct Supply Ltd., Reid Built Homes Calgary Ltd., Reid Investments Ltd and Reid Capital Corp.
We appreciate your patience as The Alberta New Home Warranty Program and The New Home Warranty Insurance (Canada) Corporation continues to work through questions and claims with purchasers and homeowners. Below are some general FAQs to help answer some common questions related to the ReidBuilt financial impact.
I paid a deposit to ReidBuilt. Do I automatically get deposit protection?
No. Deposit/Pre-possession coverage is not a mandatory product and is considered optional for the builder to purchase. Contact the NHWIC Solution Center to determine if there is a policy in effect and what your next steps are.
I filed a Deposit/Pre-Possession claim. How long before I receive a decision?
Our policy indicates that it can take up to 60 days to provide a resolution once we have all the required documentation. We are very aware of the urgency surrounding these claims and are working as quickly as possible to provide adequate and timely responses. Your patience is greatly appreciated. Filing a claim does not guarantee the deposit payment refund as we investigate each claim on a case-by-case basis.
I don't have Deposit/Pre-possession protection on my home. How do I get my deposit back?
We recommend contacting the NHWIC Solution Center, so we can do a thorough investigation. For all contractual related issues, we also recommend that you seek independent legal advice to determine your next best steps.
My home is currently under construction. Will ANHWP/NHWIC finish building the home?
Every situation is unique. Contact the NHWIC Solution Center to determine if there is a deposit/pre-possession policy in effect and what your next steps are.
I am currently living in my ReidBuilt home, does this mean I don't have warranty anymore?
Your warranty protection will continue as normal. All coverages under the terms and conditions of the policy will be honored by NHWIC.
I moved in several months ago and ReidBuil didn't finish some of the work they promised to do. What do I do?
There is a one-year defect in material and labour warranty on the home. You can file a Request for Assistance with the NHWIC Solutions Center within the warranty timeline. If the issues are warrantable defects, remediation of the issues will be arranged.
My one-year warranty has passed, yet ReidBuilt did not complete the first-year issues in my home. What do I do?
Any commitments made by ReidBuilt outside of the terms and conditions of the Home Warranty Insurance Policy are contractual and not enforceable by NHWIC.
Is everything covered under my home warranty policy?
No. The Home Warranty Insurance Policy has been developed to meet the legislated requirements of the New Home Buyer Protection Act. It is important that you read your policy and understand what is covered in the policy.
We recommend you also review the Government of Alberta’s Construction Performance Guide for New Home Warranty at the link below: http://municipalaffairs.alberta.ca/home_warranties_performance_guide
I am a subcontractor that didn't get paid by ReidBuilt and registered liens againts homes. Will the warranty pay out the money owed to me?
No, Home Warranty is meant to protect consumers that are purchasing or have purchased a home. Liens or outstanding invoices are not paid by the warranty provider.
Any further questions should be redirected to your legal counsel or to the Receiver directly via the following link: https://www.alvarezandmarsal.com/reidbuilt