Rumours circulating that Reid Built Homes, a Calgary and Edmonton based home builder that is building in the Cochrane community of Fireside, is going into bankruptcy are just that, rumours according to the company's Calgary Sales and Marketing Manager 

Dave Abbey says the company is not bankrupt but it is for sale.  "I've been advising all of our customers who have homes under construction right now that our head office in Edmonton is in the process of selling us.  I'm hoping by the end of the month there could be a buyer in place and they're looking to close and turn over possession of the business by mid November to mid December."

Abbey says he's only been made aware of the sale of the Reid Built Calgary operation and isn't aware if the Edmonton portion of the business is being sold as well.

Many Reid Built customers have taken to facebook to discuss the company's future, many, Abbey says, without knowing the facts.  For the past three days Abbey has been trying to allay their fears by calling all customers currently building with the company. 

"All of our customers who have taken possession still have Alberta New Home Warranty, they're all still covered, even people who are still building.  Let's say the sale (of the business) doesn't go through, everyone is still covered, deposits are covered, everything's through New Home Warranty.  Everything's on the up and up but unfortunately people are talking and spreading rumours and a lot of these are rumours.

Yes, we are for sale, and we're not hiding away from this.  Let's face it, if you were building with me wouldn't you rather hear it from me personally or hear it from a letter or gossip?"

Abbey says some business is still going on as the company waits for a sale to go through.  "We have some homes that we're trying to turn over.  We are still able to sell and turn over any completed spec product that we have, but any home in construction has been put on hold, with the exception of anything that is 95 percent complete.  We've got four houses that we're still turning over in the next couple of weeks that are complete."

Abbey says the doors to Reid Built are still open.   "Our show homes are going to be modified hours for the time being until, I'm guessing, a new name gets put on the door.  We've advised all of our customers about the situation.  We're doing out best to keep everybody informed and as soon as we know more we can advise them and move forward."