TERRAZAS REFUND

I have being awaiting a refund off PW for the last eight months i have being ringing them every day for the last six months.

I have a signed cancellation document signed by  D. Jose Louis Hernandez De Arce in june 2008, I initially brought on Alhama got transferred due to lack of planning to Terrazas again got offered to move or refund due to lack of planning permission, I took the offer of a full refund of the full deposit i had put down €53,000.

I have tried everything, but now feel it is time to go legal, could I please have some advise on the following.

Procedures taken by solicitors?

Cost of solicitors?

Time scale to receive monies back once solicitors have being instructed?

Any advise or feedback will be helpfull.

Your help is very much appreciated.

Many Thanks

Hi Braggs

Doesn't seem as if you have had a lot of help with your refund.  Did you eventually get your cash back?  I'm probably going the same route.

Regards Bob

Firstly, you have very little (if any) chance of a refund if you do not have the 'Termination Agreement' from Polaris World. To get this 'Termination Agreement'  you need to be in possession of the bank guarantee for all the money you are attempting to recover.

Secondly, Polaris World will fob you off, and continue to fob you off, unless you instruct a solicitor to handle your case - even then it can take several months to get a resolution. Spanish solicitor's fees vary but you will be looking at around 5% of the total amount you wish to recover plus VAT. However, you could still receive more than you originally paid out as the value of the pound is now much weaker against the euro. 

Thirdly - Good luck.

Hi andy

I have just returned from terrazes i purchased on phase 2 and i have paid all the 40% deposit. I have instructed a lawyer to recover my deposit in full.

It will cost 2000 euros first of all for the lawer to try to get the deposit back without court action. If that fails the cost jumps up to 8000 euros If you want any help give me a call and if there is anything i can help you with i will.Paul 07973714025

Dear ALL

My name is Ruth Butler, my husband and I originally put a deposit on the Alhama site and then due to planning problems moved to TDLT, however, as the progress here was very slow, last year we instructed our spanish solicitors to get our money back (ha ha), we have been offered other properties but dont want them. 

Due to an email we sent to Parador we had a phone call from Polarisworld (PW) offering our money back (on a great high at the time), only then to be told by our solicitor 2 months later DONT sign the termination contract as PW had not put a date in the termination contract of when we could expect our money back (and PW wanted our bank guarantees).  Our solicitor then wrote to PW asking them to put a date in the contract but our solicitor did not hear back from PW so then advised us to envoke to Bank Guarantee, all of this is very time consuming.  Our Solicitor gave the bank a deadline date of 20 April 2009 to respond to our request but our solicitor has heard nothing from them, therefore, our solicitor is recommending we take legal action (god knows how much this will cost).  We are currently thinking about it as we do not want to rush into any decision.

Now you have heard my sad story, here is my question.  Our solicitors at Aldea Advisors at Cartagena - is anyone else using them and if so, what do you think of them.  Do you feel they are acting in your best interest.  The reason I am asking is when PW or the bank do not respond to them they do not seem to chase it.

I really would welcome some input, if you could spare the time.

Ruth

i signed the cancellation documents with no date on but still received my money back within 7 weeks. if you were on the original phase 2 or 3 it seem s they will act fairly swiftly from my exprience.

Hi Gary

Did you get a full refund let me know Paul

Hi, Gary, I have found out that we were on the original phase 2 but, we have not had any information from Polarisworld to say they are cancelling the phase, if I can be cheekie, and only if you feel comfortable with this and you are sure it does not infringe on your legal process, could you give me any documentation Polarisworld sent you with regard to the cancellation of the phase.

Thanks

Ruth