Investigations intensify into overselling reports of Paddington Terrace/East Avenue homes
Jovan Johnson, Gleaner Writer
The Real Estate Board and Commission of Strata Corporations are investigating reports that units in two housing developments in St Andrew were sold to more than one purchaser.
The multimillion dollar projects at 24 Paddington Terrace and 11-and-a-half East Avenue were built by North American Holdings Limited.
The Real Estate Board and the Commission of Strata Corporations used a newspaper advertisement on Sunday to issue a final warning for purchasers to make contact with them by next week Monday.
Inspector with the Real Estate Board, Pete Francis, says the agencies have received reports from as far back as 2012, indicating that some units have multiple buyers.
And he says since the development has been completed, the Real Estate Board has a responsibility to release the titles to the purchasers.
However, Francis says those titles cannot be released until they are sure of the purchasers and he says the developers have not satisfied their concerns.
The units at 24 Paddington Terrace are being sold for between $36 million and $45 million.
And those at East Avenue range in cost from $15 million-$17 million.
The Gleaner/Power 106 News Centre has been unsuccessful in its attempts to contact North American Holdings Limited for a response.
A lawyer representing the company on other matters says he is unaware of the current concerns.
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