RECO issues public advisory regarding Hussnain Team P.R.E. Corporation, & Hussnain Hameed

RECO issues public advisory regarding Hussnain Team P.R.E. Corporation, operating as HH Homes Realty, Brokerage and Hussnain Hameed

On July 18, 2023, under the authority of the Real Estate and Business Brokers Act, 2002 (REBBA) and in order to protect the public interest, the Real Estate Council of Ontario (RECO) issued a Proposal to Revoke, and an Immediate Suspension Order to immediately suspend, the registrations of:

Hussnain Hameed (Hameed)

Hussnain Team P.R.E. Corporation, operating as HH Homes Realty (HH Homes)

All trading activities of HH Homes and Hameed must cease immediately.

A shortfall was discovered in the Real Estate Trust Account following an inspection of HH Homes’ books and records.

Despite the requirement under the law to replace the shortfall immediately, at the time of publication of this advisory, the monies had not been replaced.

Under the authority of the Real Estate and Business Brokers Act, 2002 (REBBA), RECO also issued a Freeze Order, freezing the bank accounts of:
HH Homes, located at 5700 Mavis Road, Unit 4, Mississauga, ON L5V 2N6

Freeze Orders are invoked against registrants when required to prevent funds from being withdrawn from a brokerage’s accounts in order to protect consumer deposits and other monies held by the brokerage. A RECO inspection revealed irregularities in the finances of HH Homes, and the matter is being investigated further. Additional action may be taken, and information will be made available through RECO’s website.

Individuals who may be affected by the Suspension Order and/or the Freeze Order are asked to use the contacts listed below:

Home buyers and sellers with questions about the suspension order, including whether a pending sale or purchase will be completed on time, should contact:
Dipak Parmar
Phone: (416) 207-3118
Toll Free: 1-800-245-6910, ext. 3118
Email: dipak@RECO.on.ca

Questions about consumer deposit claims, or other insurance-related inquiries, should be directed to RECO’s Insurance Department:
Jeremy Meuris
Phone: (416) 207-4875
Toll Free: 1-800-245-6910, ext. 4875
Email: insurance@reco.on.ca

Brokerages involved in trades in which HH Homes holds the deposit and/or are owed commissions by HH Homes should contact:
Jeremy Meuris
Phone: (416) 207-4875
Toll Free: 1-800-245-6910, ext. 4875
Email: insurance@reco.on.ca

Employees of HH Homes with questions about commissions should contact the claims adjuster for the insurance program administered by RECO:
ClaimsPro LP
Toll Free: 1-877-740-1913
Toll Free Fax: 1-866-735-1033
Email: claims@reco-claims.ca

The insurer requires one Notice of Claim Commission Protection form per trade. Claim forms are located on RECO’s website.

Employees of HH Homes with questions about the procedures for transferring a registration to a new brokerage should contact:
Maria Paolercio
Phone: (416) 207-4804
Toll Free: 1-800-245-6910 ext. 4804
Email: registration@reco.on.ca