resales

Has any body seen the resales polaris themselves are selling, naranjos for 98000 euros 2 beds from clients who couldnt complete ' bargain , why cant they offer these to us golf suite owners at these prices minus are 40%

hi i see you are a golf suite owner,wen will they start building them

Patrick from Belgium

Not sure I understand - why would they sell them to Golf Suite owners at a 40% discount??

Ted

Ted,

That's 40% downpayment we've all made on Golf Suites (July 2007 for me).  For that, most of us haven't received our bank guarantees, let alone seen a brick laid.  The only promise we've had is that we'll lose our 40% if we try and pull out !!!!!    Hindsight eh......?

disgruntled but ever hopeful keeve

because polaris have already received 40% from the previous non completer so can sell them for 60%=100%

if they sell to an owner at 60% then they lose 40%

simples yes-unfair well thats called a buyers market .when you bought and we bought it was a sellers market.also remember for an english buyer the exchange rate has moved 30%+.so if you hedged your funds then youve got a bargain-kind of.if you didnt then yes its very expensive now for the balance.

Has anyone read the contract

having stumped up 40% surely there will be a final date when polaris have to deliver by.

what if any are the consequences if they don't deliver on time or is this not in the contract.

just a thought

Hi Tony & Dawn

We also feel very disgruntled re no communication on the compltion date (La Isla) we were so worried that we went over to discuss the date.  We have been told end of May!! but we have heard that if they dont complete to contact date "they" are in breach of contract and "we" have the right to recover all of the monies paid!

We too have paid out a lot more than expected because of the exchange rate but I cant blame PW for that (most other things1) but not that.

I think official advice is needed via a lawyer to see where we all stand.

Mandy

Hi

Builders cannot have an open-ended contract if they cannot give you a reasonable completion date they have to refund your deposit plus interest, if you request that, PW will not do this without trying to tell you that they don’t have to.

Maria who is a lawyer that posts regally on the general forum and advertises on the forum also (Costaluz Lawyers) has given advice on this issue often. I suggest you look at posts on the general forum on this issue and/or contact her on the forum and ask her for your self.

Regards

Phil

I think the standard Polaris contract says they have 18 months in which to complete the property

However, the clock doesnt start ticking on the 18 months until they have started work and it is very difficult to determine what is meant by 'starting work' - is it laying the first brick or foundations, clearing ground etc ?

Friends of ours who are unable to complete on Las Terrezas are currently trying to get out of the contract due to Polaris being over the 18 month period but are banging their head against a brick wall trying to agree when the building work first started