Factura Antipos Document

I'm a first time blogger who's new to the forum and a purchaser on the Island at Terrazas De La Torre.  Can anyone tell me once you've made your first payment less the holding deposit is PW 's letter confirming receipt of euros and Factura Anticipos document which looks like an invoice the Guarantee document for money received or is this something else I need to pester PW for.

This message was last edited by ewelmedave on 10/15/2008.

Hi, that document is only your advanced bill, I'm afraid you will have a lot of chasing to get your bank guarantees.
I sent back my guarantees for my apartment on phase 3 that was cancelled and have been phoning and emailing weekly to get the replacements for my new apartment on the islands (phase 4) since JANUARY and all I get is that there is a load ready to send out but can never get in touch with anyone who is resposible for sending them. With the state of the banks worldwide I would think that Bank Guarantees would not be worth the paper they are printed on anyway

Cheers.

Thanks for clarifying that for me.  I'll start the ball rolling and make contact with PW for the guarantee myself as my Spanish agent ML seems to have vanished.

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

Hi Andy nice to hear from you.
Wow you really did invest at Terrazas when it was in its infancy + 2 years plus.
I signed up in March this year and anticipate my unit on the island being ready late 2009/early 2010 which suits my financial planning.
I'm expecting the development and the facilities to be complete by this time as I'm of the opinion that the island apartments will be the last phase unless you know otherwise.
Must say I did expect PW to advise any changes in building schedule ie delaying/cancellation of any of the phases but since my inspection visit and viewing of master plan I've heard nothing from PW or my agent so I'm feeling a bit worried after reading all the old threads.

ewelmedave
Warwickshire

Hi,

Has anyone yet secured their second guarantee?  Our solicitor is chasing still.  Spoke to PW today and they say they will chase their finance area.  Still saying they have not got the license to build phase 2 yet.  But they anticipate completion to be end of 2009 beginning of 2010.

Interested to know if anyone has started to explore if there is anyway to get money back.

Sarah

Hi.
     I have had my second guarantee for months, I hadnt had mine for three months after paying the second installments, I kept pestering them but to no avail. Only when I put pressure on Polaris by saying for every week the guarantee remains late, then when they ask me to complete I will be the same number of weeks late in signing. The guarantee came within a week.

Good Luck

Hi 

We have just started proceedings to try and recover our money.  We have appointed Maria of Costaluz Lawyers to act for us and she has already issued notification to Polaris World.  She has warned us that this could be a long process but as we were getting nowhere with Polaris felt it was our only hope of ever seeing our money again.

Jackie