RECO issues public advisory against broker Christopher Parik

RECO issues public advisory against broker Christopher Parik

RECO issues public advisory against broker Christopher Parik The Real Estate Council of Ontario (RECO) has released a public advisory against agent Christopher Parik, whose professional registration was terminated on January 31, 2017.

“The [RECO] is warning members of the public not to engage in real estate transactions, including Rent to Own transactions (RTO) with Christopher Parik of York Region,” the Council stated in its announcement.

“Mr. Parik operated an independent RTO program under the website, targeting a sector of the public who could neither afford, nor qualify to purchase a home with the promise of a ‘rent to own with zero down’ scheme.”

The RECO was action on the results of an investigation it conducted into Parik’s operations, following complaints the Council received in late 2016 and early 2017.

“Six complainants allege that Mr. Parik charged an initial fee of $595, failed to provide any further service, and then refused to return the fee,” RECO said. “On March 31, 2017, RECO laid 8 charges pertaining to Mr. Parik’s conduct, specifically for accepting commission or other remuneration for trading in real estate from someone other than the brokerage that employed him, as well as failing to deliver required copies of agreements to his employing brokerage.”

Members of the public who might have been involved into any transaction with Parik or his company TurnKey Investments can register their complaints through the RECO’s grievances portal.
  • Rachel Oliver 2017-05-19 4:48:26 PM
    There seem to be bad apples in most industries. The good news is that Rent to Own has been proven to be a very viable and effective way for credit-challenged buyers to get into homeownership in Canada. We've helped over 150 families Rent to Own and elevated success rates dramatically by doing 2 things differently:
    1) Enabling real estate professionals or mortgage professionals to leverage our expertise and systems as independent Rent to Own specialists rather than trying to figure out how to put the deal together themselves.
    2) Empowering homebuyers to learn about the pros (and cons) of RTO. In our book "Rent to Own Essential Guide for Homebuyers" we arm homebuyers with 20 critical questions to ask (and answers to listen for) before they put money down or sign anything.

    Mortgage agents who encourage credit-challenged buyers to explore RTO close more deals and build their client pipeline faster. Just be sure to align with credible experts.
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