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Builder Problems

February 4, 2009 by root

Home-buyers be ware
Posted: 9:30 PM Nov 13, 2005
Last Updated: 12:34 AM Nov 14, 2005

The joy of building a new home turned to tears for one couple and they may not be alone.

A contractor building in Sarpy County is on shaky ground financially and buyers for three houses have been advised to pull out.

For months, Nolan Barnes and his fiancé planned their future around a new home.

But instead of moving in they're moving on.

"It's hard to describe the emotions we put into it," said Nolan Barnes. "And to think we're going to get something and we don't have it."

Barnes says his realtor warned him there may be problems with their builder, Renaissance Homes.

"The business is going under," said Barnes. "There'd be no warranty on the house, may be liens, so we might not even get the house."

Buyers were warned that Renaissance Homes is a struggling business and there would be issues going through with their home.

In a statement to Six On Your Side, the company let buyers out as a good will gesture.

"Extremely shocked," said Barnes. "One minute, we have a house, to next minute having to start from scratch."

Renaissance Homes promises it will return deposit money to buyers -- about $2,000.

Nolan and his fiancé have lost $1,500 they paid their lender months ago to lock in an interest rate. A loan officer for the credit union says all customers are told that fee is non-refundable and can't be transferred from one address to another, even if the buyers find another home to buy.

That makes finances tighter for the Barnes family.

"You know, I'm 24 years old, starting my first house," said Barnes. "And it's been a nightmare."

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