27 Nov 2008 9:18 AM:
I agree with few points of yours Brian and appreciate them but here are a few facts:
These points are not just for Polarisworld but for all Golf projects in Spain at the moment.
1. Bank guarantees: These are not issued directly for example customers at Polarisworld have been waiting for neary a year to get them and get little help from the company when they mail or call by phone RERQUESTING THEM NOT MY WORDS BUT FROM THEIR FORUM SITE FOR OWNERS , there are even employees who bought and did not receive bank guarantees!!
2. Off plan is at this moment not the right time there are a few reductions 20-25% mainly for properties already built but part of these projects will only be about 50% sold so half empty which moves me onto next point (for people wanting to buy already built properties re sale prices will be shooting downhill in about 6 months time as customers are delivering their keys back to these resorts every day because they cannot afford the mortgage therefore prices will dive)
3. Facilities: These are not being built as promised because of the above point and customers looking at the brochures and dvd,s and websites and macquettes being promised full blown shopiing centres will not get them until 2013 earliest if the situation improves. At Polarisworld the only resort reasonably fully completed is La Torre and Mar Menor but Mar Menor 2 is not yet complete. El Valle, Hacienda, Terrazas and Condado have not completed facilities as per brochures 3-4 years ago have these brochures changed? At Hacienda the existing owners are happy with the golf course but are drinking beer from a wooden hut in the winter not the promised golf clubhouse which was promised and the facilities are nowhere near what is on the macquettes or brochures. Proof of this is to look at the owners site polarisworldforum.net owners words not mine.
4. Conclusion: Real estate agents want to sell and i don,t blame them everyone has to earn a living....but.....all the information given is only propertional and not exact misleading customers especially those who have no experience with spain is not correct . There are people on these sites who are taking their life savings or heritance as a risk here that is why i am making these notes i have nothing to gain but see so many people here getting the wrong advice time after time.
And i have sold off plan and built property in Spain for quite a few years and know what i,m talking about. (not anymore i may add) My advice don,t buy at developments off plan at all, buy already built between june-dec next year only if the majority of money paid is your own do not borrow if possible, get a sollicitor and make sure all documents are extremely well arranged. IF YOU HAVE TO BUY OFF PLAN GET MAKE SURE THE DEVELOPER PUTS IN WRITING THAT THIS WILL BE GIVEN 1 - 2 WEEKS AFTER DEPOSIT PAID OTHERWISE YOU WILL CANCEL.
Thread:
Refunds from Polaris World
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