jkruk
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$
What is the best way to transfer $ from a home sale to the us?
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woody with a view
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Mex bank should be able to transfer funds to your account of choice.
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Russ
Elite Nomad
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The buyer should be able to transfer the $ to your account directly. If a Mex bank does it they may charge a percentage and your US bank may too.
you'll be able to check your US account before you sign anything. If needed your US bank can set up an escrow account. Give your US bank or maybe your
tax person a call and find out if or how to declare the money if need be.
edit: The fido should show in it somewhere any gain or loss on the sale.
[Edited on 4-4-2017 by Russ]
Bahia Concepcion where life starts...given a chance!
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pacsur
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Make sure you use a bank that is allowed to use dollars, some banks are not, the banks that are not allowed to use usd will not allow a transfer or
will exchange your dollars into pesos at their rate in order to send, then your stuck paying more fees to exchange back to dollars.
I tried to transfer dollars to a supplier in Tijuana last week, his bank would not allow it, I had to write a Mexican dollar check and deposit into
his account.
Scotiabank and Santander both wire dollars to the USA, cost about $100 sending and receiving depending on who you use.
[Edited on 4-4-2017 by pacsur]
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Salsa
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Brown paper IRS proof bag.
Don
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bowser
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In a plastic bag under the used kitty litter.
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BajaBlanca
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This is a very interesting question. Please let us know how you resolved this, I would like to know.
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chuckie
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imlost
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I also have a need to transfer a larger amount of $ to someone in Baja who is going to do some construction for me. I've been using Western Union, but
there's a limit to the amount of money my contractor can withdraw at one time from a Western Union location - Besides, it's pretty expensive to
transfer money that way. I don't think he has a bank account, so transferring from my bank acct is probably not an option. I'm wondering what other
people do in this situation. I'd rather not travel with a huge wad of cash.
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bajabuddha
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That's what the little pouch on the front of your tighty whities is for.  
I don't have a BUCKET LIST, but I do have a F***- IT LIST a mile long!
86 - 45*
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pacsur
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Most likely the reason your contractor doesn't have a bank account is because he doesn't want to pay taxes, any money deposited or transferred into a
Mexican business account is subject to 16% IVA, which he would most likely pass on to you.
Quote: Originally posted by imlost  | | I also have a need to transfer a larger amount of $ to someone in Baja who is going to do some construction for me. I've been using Western Union, but
there's a limit to the amount of money my contractor can withdraw at one time from a Western Union location - Besides, it's pretty expensive to
transfer money that way. I don't think he has a bank account, so transferring from my bank acct is probably not an option. I'm wondering what other
people do in this situation. I'd rather not travel with a huge wad of cash. |
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paul r
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Posts: 160
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Location: San Luis Obispo/ La Mision
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Hi gang, I agree with BajaBlanca that this is an interesting topic. Knowing that some of you have gone.through selling your baja homes having the
experience is very valuable to us that haven't gone through it. I have a place in La Mision and I'm contemplating selling. I plan on using a local
real estate guy, have the trust in my name, and here are a few questions, is selling complicated, if the house sells how does the money trail between
buyer and seller work, and legal trail also, any info from nomads that have gone through it will be appreciated by all. Thanks gang!
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jkruk
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Registered: 9-21-2007
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Money
The learning curve has begun.
First it would appear that both our fido and manifesto, which required for title and capital gain reporting are worthless. A new manifesto is being
produced at an expense $ and will provide a capital gain base regardless of our loss. Interesting . Real estate cost is at 8 percent ,escrow around
1600$ . Will keep you posted as the adventure continues jim
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KaceyJ
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Location: there
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| Quote: Originally posted by jkruk | The learning curve has begun.
First it would appear that both our fido and manifesto, which required for title and capital gain reporting are worthless. A new manifesto is being
produced at an expense $ and will provide a capital gain base regardless of our loss. Interesting . Real estate cost is at 8 percent ,escrow around
1600$ . Will keep you posted as the adventure continues jim |
Who originally did your fido?
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BajaBlanca
Select Nomad
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imlost using wells fargo, you can transfer $1500 per day to telecom telegrafo but before I had this option:
what I did with the college students being sponsored is: I opened a wells fargo account soley for this need and got 3 $500 limit debit cards for the
account. In your case, you could give the cards to your builder and this would give you access to another $1500 pretty easily. Assuming the ATM
machine cooperates!
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imlost
Nomad
Posts: 217
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Location: PNW & East Cape
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Blanca,
Those are great ideas. Thank you!
I'll have to learn more about Telecomm Telegrafos. Using a card linked to my acct sounds really simple, though.
[Edited on 4-11-2017 by imlost]
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paul r
Nomad
Posts: 160
Registered: 4-18-2004
Location: San Luis Obispo/ La Mision
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Hi gang, I signed my trust today in rosarito with Luis A.Durzo as notary, with Jorge Cuadros at my side. It was a relaxed, formal time, but both men
were professional and polite. It took about half hour and we were on our way. Jorge even drove me there! It took three months of "prep" and the final
cost was $5030.10. If your looking for any type of help with almost anything please give Jorge and his staff a call. (JorgeCuadros.com) They are great
people who can be trusted, he's only been doing it since 1972! He also is going to help me with capital gains taxes which run 30% or more as I move
forward. I"ll keep updating as I stagger towards my goal... hasta
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