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Expo 62 Sold As Apartment Building: 17 Buyers to be Released from Purchase & Sale Agreements

January 14, 2008 by  
Filed under Expo 62, Intracorp Companies LLC, Queen Anne

Expo 62 for RentI’m one of the 17 buyers whose purchase and sale agreement is no longer reserving a unit purchased for Expo 62. Although the sales staff for Expo 62 did a wonderful job (kudos to Katy Lassey), sales just weren’t up to par and therefore sold to an out-of-state investor. My speculation is that Intracorp’s “hip” marketing strategy and “daddy-o” slogan didn’t coincide with it’s target market. It’s effort was directed towards targeting younger buyers who weren’t aware of it’s relation to Seattle’s World Fair and construction of the Spaceneedle in 1962. Marketing just didn’t make sense. The building should still be a wonderful asset to the community and a wonderful place to live for those looking to rent.

Comments

6 Responses to “Expo 62 Sold As Apartment Building: 17 Buyers to be Released from Purchase & Sale Agreements”
  1. Jon Hunter says:

    For those who purchased at Expo 62 and are disappointed, we have a few select homes available at Veer Lofts! 9′,13′ and 16′ ceilings!

    http://www.veerlofts.com

    Contact Jim or Staci!

  2. What a Waste says:

    Thank you James for posting this info. I too reserved a spot at Expo…read your blog in disbelief/confusion on Monday night, only to receive a phone call from the company confirming this on Tuesday! As a first time home buyer, I am very disappointed.

  3. Nick says:

    Instead of signing away any further rights by accepting the rescission agreement I opted to contact a lawyer.

    There are at least two versions of the PSA, one with a specified date of rescission – Jan. 15th – and one without. Fortunately I purchased into Expo 62 early enough to have received the latter contract. BUT, I suspect that Intracorp may have blown this stipulated date as I know I received my rescission agreement on the 18th postmarked – and this is the critical date – the 16th.

    Language in the contract stipulates that Intracorp must make a “good-faith” effort to complete the sale – clearly they did not.

    The pricing for my unit was offered below market-value. As such, I feel that by failing to close this sale I am out an appreciable sum.

    Further, I feel insulted and irritated by Intracorp’s miserly offer of compensation- 10K off my next Intracorp purchase – and the, to date, 4 phone calls asking my fiancée to send in the rescission agreement, the 3 latter calls made after she clearly stated we needed time to review the document.

    As such I feel it is wholly appropriate to pursue legal remedy. The attorney I have spoken with is interested in possibly pursuing a class-action suit against Intracorp.

    If you are interested in what legal standing your case may have please contact me via email: njcenac@gmail.com and I will pass your information along to my attorney.

    In the interest of full disclosure, I happen to work at a condo law firm. This is the firm I’ve gone to for legal advice.

  4. Nick says:

    I just wanted to take a second to let everyone know that Intracorp met with me and my fiancée today. Together we came to a satisfactory resolution of our issues with them. We are both now happy with how this situation has worked out.

    Nick

  5. jamesstroupe says:

    Thank you for the positive message Nick. Would you be able to share your resolution or would you rather keep it between you and Intracorp?

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  1. […] James bought at Expo 62 and has had his reservation cancelled: I’m one of the 17 buyers whose purchase and sale agreement is no longer reserving a unit purchased for Expo 62. January 14th 2008 Posted to Expo 62 […]



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