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Author: Subject: Purchasing property in the Baja
1Bajalover
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[*] posted on 4-20-2017 at 02:16 PM
Purchasing property in the Baja


I am researching the process for buying a small lot in Baja Sur that has been offered to me - I understand a bank account is set up to process money through but am not sure of any of the other details

Any information much appreciated

Thanks!
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BajaUtah
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[*] posted on 4-20-2017 at 02:50 PM


Sooo many questions will come but I'll start with what I think is the most important.

Does the seller own the property and have the right to sell it.

After that, how are you going to own it? Fidecomiso, Corporation, etc.

When I bought mine it turned out the person I bought it from had no title/rights to the land because they had never created a fidecomiso. It turns out I bought the "contract" under which they bought the land from the developer. It all worked out in the end in that I now have a fidecomiso in my name and legal status in Mexico (residente temporal) but it could have gone pear shaped pretty quickly.




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[*] posted on 4-20-2017 at 03:12 PM


First rule of investing in Mexico. Never invest more than you can walk away from.
Go to a good lawyer in the area and have him walk you through it.




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chuckie
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[*] posted on 4-20-2017 at 03:23 PM


Second rule..Never buy any property in Mexico



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JZ
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[*] posted on 4-20-2017 at 03:35 PM


Quote: Originally posted by chuckie  
Second rule..Never buy any property in Mexico


You are negative about everything. Trying to make everyone as miserable as you are.

I made $600K profit in 3.5 years on building and selling a property in Sonora. You are too busy crying about everything to notice the opportunities.


[Edited on 4-20-2017 by JZ]
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chuckie
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[*] posted on 4-20-2017 at 05:21 PM


woopee...I spill more than that farming..



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Lee
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[*] posted on 4-20-2017 at 06:59 PM


I'll second not buying in BCS at the moment. Personally, I'd wait and see how much president pu$$ygrabber screws things up between Mexico and the US.

So far nothing has changed and people with money seem to be buying and building in Todos/Pesky. Crime or no crime.







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BajaBlanca
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[*] posted on 4-20-2017 at 07:09 PM


There are a couple companies in La Paz that speak English and can walk you thru the process. I don't know them since I speak Spanish and was able to do our paperwork with a notario. Surely someone here can give some options.

If you do a fidecomiso (where the bank holds your title) be sure to read it carefully as so many folks have realized afterwards that the name was incorrect or that some of the heirs were left out!




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BajaNomad
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4-20-2017 at 08:53 PM
JZ
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[*] posted on 4-20-2017 at 10:54 PM


Quote: Originally posted by chuckie  
woopee...I spill more than that farming..


You are an unhappy old man trying to bring everyone else down to your misery.

Pic from a month back around the time when you were crying and b-tchin' and being negative on here day after day.



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chuckie
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[*] posted on 4-20-2017 at 11:05 PM


Thank you for your input JZ!



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paranewbi
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[*] posted on 4-21-2017 at 04:14 AM


Quote: Originally posted by 1Bajalover  
I am researching the process for buying a small lot in Baja Sur that has been offered to me - I understand a bank account is set up to process money through but am not sure of any of the other details

Any information much appreciated

Thanks!


Exercise due diligence and get as much info as possible. Some good advice for you from a few here already.
A 'small lot' in Baja may be a much bigger payout in joy then in $$.

It strikes me as funny that some would put $40 grand into a boat and fishing equipment or a single camping vehicle/cruise/vacation...all diminishable, and then fret over less than that in acquiring terra firma in Baja.

Take the due diligence advice and then enjoy the risk with a drink and a sunset over still waters.
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chuckie
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[*] posted on 4-21-2017 at 05:55 AM


Para gives good council, sorta. Do the due diligence and make your own decision....Above all remember the 1st rule...and comparing land investment to necessities like boats, trucks and beautiful women is foolish.....some things you cant live without, eh? I threw the "eh" in for motoged...



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Bob and Susan
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[*] posted on 4-21-2017 at 11:28 AM


Quote: Originally posted by chuckie  
woopee...I spill more than that farming..


I think you should post your "tax returns" : )

as for paranewbi....you haven't shopped recently
new trucks that can pull stuff are 60k to 80k

its getting expensive out there





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chuckie
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[*] posted on 4-21-2017 at 11:38 AM


Geezo, I got enough people lookin at em....My Daughter just bought a Chevy Duramax 66,600 after haggles...I think as I have said, the OP should do as his will dictates...Those of us who have spent so much of our lives in Baja, have our own opinions...



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charliemanson
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[*] posted on 4-21-2017 at 12:00 PM


If it flys,floats or fu**s..rent it. Land does none of them. there is only so much beachfront property on the planet and it will always increase in value as the people who wished they bought beachfront will eventually.

Whatever you do just go to a respected notario and bypass the lawyer as the notario IS the official.

Just look at property on the beach in Florida or Cali! We are the equivalent of Florida on the west coast.

Selling parts of my beachfront property has paid for many boats and b-tchen trucks to pull them with. Plus it's way better than living in the US...just saying' ... chase the dream you want to live.
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charliemanson
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[*] posted on 4-21-2017 at 12:15 PM


And PLEASE don't refer Baja as "The Baja".. It makes you sound uneducated or Canadian....Mismo?
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Alm
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[*] posted on 4-21-2017 at 12:23 PM


Quote: Originally posted by 1Bajalover  

Any information much appreciated

...and so are the missing details.

Bajautah has summed it up pretty much. Those are blanks to be filled, for information provided by Nomads here to be any useful.

Or, like somebody suggested in your other thread about 2 years ago - If you are serious this time, talk to your realtor.
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1Bajalover
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[*] posted on 4-22-2017 at 03:53 PM
got lots of info


go through a fidacamiso

thanks everyone
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