15 Jan 2009 10:25 AM:

Thanks Linda

I suspect that our solicitor is a bit too close to Polaris (they were recommended by the agent selling the property)

You mention Maria de Castro. Is she the solicitor based at Costaluz Lawyers and is she acting for you?

If so we may cantact her for guidance.

At present we are looking into sending a burofax requesting our second payment bank guarantee as just receiving this would give us a little more faith in the system. Our post office has never heard of a Burofax but thats not unusual in our small Town.

Andy

Community thread: phase 2 Terrazas

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14 Jan 2009 3:52 PM:

Hi Holly

As you stated, it cost your friends a lot of money but were they successful in the end?

Andy

Community thread: phase 2 Terrazas

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14 Jan 2009 11:09 AM:

Hi Linda

Like Dave, we are using Danil and have been quoted 5000euro to request cancellation of the contract and obtain a refund. It looks like you are one step ahead of us, having received confirmation of cancellation. From our point of view Polaris have breached our contract on 2 areas. The first is their failure to send a second bank guarantee and the second is the rather suspicious build delays of the new phase 2. We have been told that cancellation and a refund will be very difficult because they have not fully cancelled our phase, just re-numbered it. Can you confirm that your successful cancellation is not because they have cancelled your build phase completely. If not, which contract breach was successfully proven to secure your cancellation.

Regards

Andy

Community thread: phase 2 Terrazas

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09 Jan 2009 5:18 PM:

I am in the process of buying one of the new phase 2 (previously phase 5) penthouses. I started the process over 2 years ago and have paid the full deposit. To date I have only received the first bank guarantee and my solicitors are trying to secure the second without much success. I am using Danil Services and they are now using a lawyer to chase the second guarantee. I have been out to visit the development (September) and had a look at a completed phase 1 penthouse and the quality was impressive. I was told that phase 2 would be delayed until phase 1 was completed and also that certain permissions were still outstanding for phase 2 which is a bit of a worry. I have been given the option, by my solicitor, to instruct a lawyer to secure a refund but the cost may be as high as 5000 Euro. It is difficult to guage how confident the lawyer is of winning and I am concerned that even if I do win, will the refund materialise. The most frustrating thing is that you never hear from Polaris, you constantly have to chase them. I was really looking to Spain as a retirement lifestyle choice, not an investment. The sad thing is that the finished article looks impressive and the reasons for buying are still there but I have lost patience.

If anyone else feels the same it may be advantageous to work together to see what options are available regarding refunds.

Sorry to be so negative but 2 years is a long time to wait for your dream retirement property.

Community thread: phase 2 Terrazas

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17 Oct 2008 9:54 AM:

This might help.
I have been waiting for the guarantee for my second stage payment for a few months now, despite my Solicitors attempt to secure it. My Solicitor has now lost patience and is going to demand the document and then use whatever powers she has to force PW to release it to me should they fail to respond.
She is also investigating the legality of the completion date wording on my contract. We both think that it is far too vague and stacked in PW's favour. We paid our first deposit over 2 years ago on a phase 5 Penthouse. This is now the new phase 2 and they have still not started building this phase. Latest estimation is Sept to Dec 2009. PW are now trying to say that even if they build the foundations of my block this does not constitute the start of the build for completion date purposes.
We were really looking forward to taking ownership of our appartment but after 2 years of having our money tied up and no start date yet for the 18 months build time stated in our contract, we are asking our Solicitor to investigate a legal way to cancel our contract.
I will let you know how successfull we are securing our Bank Guarantee.

Andy

Community thread: Factura Antipos Document

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