islandmusicteach - 4-30-2007 at 03:28 AM
Thanks in advance to all the experts out there.
Has anyone out there bought a larger parcel with the intention of subdividing at some time in the future? How did you go about doing it?
I just found out that the one hectare parcel that I'm trying to buy with a regular fideicomiso is too big for a gringo! Apparently, 2000 mts2 is the
biggest you can buy without causing the gods to get angry. I've been told I have to invest way too much money within two years or else lose the bank
trust. Should I take a step back and buy with a mexican corporation, or is there another way?
Any tips would help quite a bit right now,
IMT
Bob and Susan - 4-30-2007 at 04:56 AM
what ever you do DO THIS!!!
get a lawyer!!!
write CC&R's before you sell the parcels
include rules including...
how high structures can be
what houses can be built with
type of roofs
how many birds a resident can have
how many dogs
how many people at a party etc etc
i mean STRICT RULES!!!
Whatever you do, go slow
Lee - 4-30-2007 at 08:09 AM
I subdivided 6,500 m2 into 2 parcels @ about 1,200-1,500 m2 with a larger parcel @ about 3,500 m2. One fide for the total parcel only. New buyers
would need to get their own. My RE agent is a 9 year full time gringo who speaks Spanish. He took care of the subdivision and it cost about
$1,000 US. There was no incentive from the Seller I bought from to subdivide and I did try for that because I only wanted less than 2,000 m2 to
avoid the investment clause. My clause came in at $1,000,000. I'm told the clause has never been enforced.
Buy the land, subdivide with experienced professionals in your area. It's not big deal.
Where are you thinking of buying? I can refer an attorney in La Paz, Todos Santos, and Cabo. I've been told I have 5 years to invest in the land
I own.
Buena suerte.
