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Hi Chris,
We've bought in La Loma but as we didn't hear anything for a long time, I called this week to find out what was happening. Seemingly, they don't have a licence to even start building!!! The girl in Customer Service told me that we could always swap for another property on another resort. We need to tak to someone more senior as obviously we're less than happy.
Are you in the same boat?
EB
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Yes I bought one of the villas in 2005! They have not been very good in providing information until recently we have also been offered an alternative on a another development but I actually wanted La Loma! It would be good to know whether they intend to build? I knew that they were still awaiting a licence but now I wonder whether they are going to bother to build in the current market?
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Hi Chris,
Since I last posted, we've been offered another property in El Valle. We went to see it (courtesy of Polaris) and it's a better property with a 35% discount. They didn't mention if they were still going ahead with La Loma but it certainly doesn't look likely in the near future. Have you been to see the property you've been offered?
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Polaris still don't have permission for this site and my understanding is that they won't get it. Deposits will have to be repaid at some point either by Polaris or the bank who guaranteed them.
I'm taking legal action to recover my money.
Mike.
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Good luck. Recovering deposits is a safe bet, especially in a market where prices are in free fall. Bank guarantees should be legally binding, but I have heard that the banks are being difficult due to the number of people doing this. Just persevere.
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Hi all,
We were buying 2 apartments on Condado so my husband told them to transfer our La Loma deposit onto these and they did. He told them that he had it on good legal authority that they were in breach of their contract and they transferred the money based on the email from him.
I was in Spain at the weekend and noticed that the La Loma sign at the site has been replaced with an ad for one of their other resorts so it doesn't look as if this will go ahead any time soon....
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