Termination of Contract

Due to the late delivery and the level of service received from Polaris World, I decided to envoke the clause in my contract to terminate the purchase of an apartment on phase 2 of HR within the 15 day period after the original completion date.   I have only just recieved an offer to repay only the monies paid to Polaris World with out any interest or legal costs.    Has anyone else envoked this clause and had any success in reclaiming the interest ?

If Polaris have offered your money back then your in a minority. They seem tobe NOT honouring clause 4.2 for many people on La Torre and there is uproar on other forums. I suggest you take the money offered, If your set agaist completing, and be thankful for small mercies-your one of the lucky ones.

On the other hand I still believe Hacienda will be fantastic when finished and well worth the wait. The low density can be appreciated when all the resorts are viewed from the arial shots on the Polaris website. Hacienda looks by far one of the best and is the flagship golf course for the 'real' golfers

I have today been told be customer services that Polaris have not accept my request to cancel that I gave them over 6 months ago.

They say that if I do not complete then I will lose all my deposits that I have paid.

I have been phoneing and emailing them every few weeks for the last 6 months to get the ball rolling and get my money back but basically the answer is tough... talk to your solicitor. They basically want to hold onto my money as long as they can.

Has anyone else had this kind of response??

We are purchasing a property on Phase 2 and like many others are becoming frustrated with the constant delays.

We too are considering terminating the contract,although our contract appears to be different,no clause 4 apparant just the fact that building will be complete within 18 months from signing contracts. Looking unlikrely that this will happen.  

Can anyone advise process for terminating and getting refund,all input will be appreciated good results or bad. At least we will know what we are up against.

I am currently buying a penthouse on Phase 4.  We have submitted our termination of contract via our solicitor to make sure we do it correctly.  Polaris have rejected our claim (although our apartment is not complete!!) and we now have to take them to court to get our depositis back!  They put in the "get out" clause, but do not want to honour it.  We won't give in, however, and now have our solicitor preparing paperwork to start legal proceedings!!!  If you want to terminate your contract, consult your solicitor and make sure you put in your claim via him.  Good luck.

Has anyone else had the same situation????  Has anyone got as far as court????

We are in a similar position. We should have purchased on phase 2 in Dec 2006 but now unlikely to be completed before new year. We hand delivered a cancellation letter to Polaris a couple of weeks ago but they simply quoted clause 4.2 and said we should have cancelled by 15 Jan. They completely ignored the fact that thayhave now failed to meet their 2nd deadline of June2007.

Our solicitor is in process of writing to them as he considers that clause 4.2 cannot be enforced legally. We shall have to wait and see.

Goog luck with your case. We would be interested to know how you get on.

Being lazy I've not read through all the previous emails but we're on Phase 1 & should have completed June 06.

About 3 months ago we intended to terminate our contract as we were just sick & tired of waiting - after speaking to our Spanish solicitor you only have 3 months after the completion date to terminate to get your deposit back - after that you can terminate any time but loose your 40% deposit !!!

On a positive note we are now set to complete 18/10/07

Yippeeeee !!

Hi Guys

We are buying on Phase 1 and were given 23rd and 24th October, but asked if we could go a week earlier as the flights would have been cheaper.  Got told this was impossible as they we completing stage one that week and we were stage two.  We were told we could go out the following week, but when I explained we had already booked for the last week of November (so we could go out and see that any snagging problems had been completed), they said that we could make that week the date we could get the keys and do the completion.   On that score, and going by the length of time it takes for the services to be connected, out dream of spending Christmas or New Year's Eve there seems impossible.   I asked the representative how near to completion the Town Centre and its facilities were and was told that they wouldn't be ready yet , but that there might be a possibility that they may open 9 holes of the golf course as the building work on the other phases would make it unsafe to have the whole golf course operational.   Anyone head anything different?

Still haven't decided whether to go for the CAM Spanish mortgage yet and am awaiting other quotes.

LG 

Hi. We are buying a property in phase 5 of HR but because of the delay decided cancel our contract using clause 4.2. We had our solicitor send in the proper paperwork on time, within the 15 day period. However,Polaris will not accept the cancellation as they claim that by sending us a completion datein October this means we can not cancel. We have now issued the paperwork to the courts to try and get our deposit plus interest and costs. Will update.

Has anybody has any success in getting back their deposit?