Taking Polaris to court

I have never taken polaris to court, but I bought a property in Las Vegas (in 2004) and the developers went bankrupt. Deutsche Bank then took possession of the half finished property and in the ultimately converted it into a 5 star hotel (The Cosmopolitan).

A group of us owners started a class action against Deutsche Bank and they settled out of court. We all received aprox 2/3rds of our sizable deposits back after the lawyers has taken their share.

Polaris is a different matter, they completed their properties and if you have purchased one, then I cannot see how you can get your deposit back?

You could argue that they never delivered what they had promissed i.e the Oasis, second/third Golf Course, etc etc. However I would imagine they could argue that they ran out of money or blame the credit crunch. 

I would rate your chances of winning are slim and your legal fees will probably exceed your expected returns.

If you feel you have a valid claim against Polaris, maybe you could contact other owners and start a group action like we did. This will significantly reduce your individual legal fees.

I do have quite a lot of experience of taking developers to court, so if you need any further info just message me.

One point that might be useful is that if you buy 'off plan' then you are merely buying into an idea or concept and the developer can change, alter or actually not build parts of that development or specific building. However that shouldnt mean they can ignore their responsibility to their customers.

As Darren says there is weight in numbers and that has often been the way forward for those who have wanted to sue their developer.

There were people who put down deposits on the Mirador part of Condado that didnt happen and for while through 2008-9 there were threads on here and other forums as they tried to get their deposits back. However, I dont know what the final outcome was and many did accept a move to other apartments on CdA or other Polaris resorts.

I also remember that one owner had put down deposits on 2 adjoining apartments on Jardin 5 directly opposite the 2nd swimming pool. Except the 2nd swimming pool didnt happen and at the time she was desperately trying to get her deposits back- to no avail if I remember. Altho she was offered alternative poolside apartments but she was detirmined to recoup her deposits but my last memory of her posts were that it wasnt proceeding successfully for her. We also met a couple for whom one of them had had diagnosis of a serious, potentially terminal illness and they were also being unsuccessful in their fight to wthdraw from the sale and reclaim their deposit. So its definitely not an easy battle to take on.