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Peerless Properties Corp.

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Peerless Properties Corp. Reviews (1)

Review: The issue involves a coop property located at [redacted]. I made an offer on this apartment, which was accepted by the seller on June **, 2014. I was vetted and accepted by the coop board on July [redacted]. I was informed at closing that since my income was on the low side the board required 2 years worth of maintenance to be held in escrow by the board and to be released upon the termination of the 2 years. The board told me that the seller''s broker and attorney were informed of this before the interview. We were never informed, nor was my broker or lawyer. The closing date kept getting pushed back by the seller and, as I found out, there were liens that were never properly filed as having been paid. As a result the board refused to sell the shares as this matter remained unresolved. As it turned out the issue had held up a previous sale of this apartment so the broker must have known that this was still a problem. I have all email correspondence pertaining to this matter and can provide it upon request.

I lost out on other possible purchase opportunities as a result of the broker's "incompetence", though I actually believe it to be malfeasance. I have had to put my belongings in storage for an open-ended time as I am still without a permanent residence. These storage fees are adding up. My lawyer has had to write countless correspondence in order to resolve this issue and to recoup the deposit paid. The down payment was just returned yesterday though not the $1,000 which should have been paid for the seller being unable to provide a clear deed. As stated in the contract -

Paragraph 4.1.1 of the Contract provides that Seller is, and shall at closing be, the sole owner of the Shares, Lease, Personality and Included Interests, with the full right, power and authority to sell and assign them. Seller shall make timely provision to satisfy the existing security interest(s) in the Shares and lease and have the same delivered at Closing.”

The most extraordinary thing about all this is that the apartment is still being listed for sale, in spite of the fact that these issues remain unresolved. This seems illegal.

Any help that you could provide would be most appreciated. In addition my broker, [redacted] Member, RE [redacted]

would be happy to speak with you and provide any additional information or correspondence regarding this matter.Desired Settlement: Refund of $1,000. for not honoring contract. Apartment unit should immediately be removed from the market as it is unable to be sold until liens are properly filed. This broker should have his license revoked.

Consumer

Response:

At this time, I have not been contacted by Peerless Properties Corp. regarding complaint ID [redacted].

Sincerely,

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Description: REAL ESTATE

Address: 417 Brighton Beach Avenue, Brooklyn, New York, United States, 11235-6401

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