Country Plaza Homes

Country Plaza Homes Acted as an Escrow Agent to rent a house with the option to buy and took our Escrow money. Jamaica, , New York

6th of Mar, 2011 by User942228

Mr. Basal has behaved in a manner that is wholly unprofessional and disreputable. More importantly, he has taken money from us to which he has no legitimate claims, in an action that is completely illegal. The circumstances of his actions are as follows: We moved the house on November 19, 2008 with the intention of renting with the option to buy. This rental was arranged by Albert Basal and to which we agreed. Our payment was $10,000.00, an amount that was designated as down payment on a home priced at $550,000.00. We also agreed to a monthly rent of $2,500.00, for which we provided one month rent and one month security deposit, with the understanding that $1500.00 went toward rent and $1,000.00 was to be applied to an escrow account and applied toward the purchase price. For twenty-two months we paid the agreed $2,500.00, believing that the money was allocated according to our arrangement and that our escrow funds (to be applied toward the purchase price) were in a safe and secure location. Such was not the case. On numerous occasions and at will, Albert Basal helped himself to our funds to compensate himself for whatever he deemed that we owed him. Clearly, these funds had not been secure and Albert Basal violated escrow laws by removing the money without our knowledge or approval as an escrow agent. Additionally, Mr. Basal refuses to refund our down payment of $10,000.00, claiming that the agreement was not binding because it was not written. Our proof of the legitimacy of the agreement was our memos on our checks that the funds would be allocated as discussed toward rent and escrow. Now there is no acknowledgment of our legitimate claim to the money, no agreement to refund it and no recourse to recover it. We have spent an additional $8,000.00 for grounds upkeep, security door, fence door for backyard, and flood lights system. Mr. Basal will likely embezzle others and break the law as it suits him.

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