Argo Property Group

I am writing this review to share my recent experiences with Argo Property Group regarding a contract to buy a multi-unit apartment building. First, let me say that I am not a real estate professional or developer. I am an internal medicine physician and my family had recently sold our former residence and were seeking to reinvest in another property. We entered into a purchase agreement with Argo Property group in February, shortly before COVID-19 began to spread widely outside of China. The problems began after our inspection, when we submitted a modest list of minor repairs. Argo responded by contesting most of the items and did not initially agree to repairs. After considerable back and forth between our agents, they agreed to some items but for other items conceded only to allowing additional third party inspections, without promising any repairs. At this point our trust in the sellers had been shaken, but we decided to proceed and give them the benefit of the doubt. Shortly thereafter local and state officials issued stop work orders that prevented contractors from conducting non-emergency repairs and prohibited inspections. In light of this development it did not seem possible to move forward with the purchase. I reached out to the sellers with concerns about moving forward under the circumstances and made a proposal for amicably resolving the situation. The response of the sellers was that they were not interested in an amicable resolution and intended to keep my $50,000 deposit in full. As an aside, as a hospital-based health care provider I was under an immense amount of stress at this time, fearful that I would contract the virus and leave my family without a source of financial support. I explained my situation to the sellers and highlighted the added stress that the contested contract was causing, but their response still did not change. My personal circumstances and feelings might be irrelevant from a legal standpoint, but from a human standpoint I’m confident that I would have been more understanding if I were in their position. Since an amicable resolution was not possible, I was obliged to order a re-inspection of the property, potentially putting the residents health at risk and likely violating city and state stop-work orders. The sellers at the last minute did cancel the inspection, though, but continued to refuse to refund my deposit. I have subsequently hired an attorney to try to recover my deposit but it appears the sellers will force litigation and my family will face months of stress and additional legal fees. There are two sides to every story, of course, but I thought it was important to share this information with any other potential. Your experiences dealing with Argot Property Group and the lead partner Jeremy Terr may differ, but I would advise you to hire an attorney prior to entering into any contract and very carefully consider the circumstances under which you provide deposit money. Thank you and stay safe.