BajaNomad

Diane Trotter = jdtrotter

fdt - 10-11-2007 at 08:44 AM

Will be our special guest today and we will be talking about Asuncion and of course about the nomad challange of "matching dollar for dollar any Nomad donation for the Lobos Marinos" , I also have tequila and Caesar tickets still available to give away.
9:30AM Pacific.

Hook - 10-11-2007 at 10:36 AM

Wow, disappointed that I came in for the last ten minutes of the interview with Diane. Did she talk about building and buying down there? If so, can somebody give me a quick synopsis?

Ferna, there is no archive of shows is there?

Diver - 10-11-2007 at 10:42 AM

Missed the whole dang thang !
Hope there's an archive !?
Could anybody tell if she was wearing a bikini like Shari ? :biggrin:

.

shari - 10-11-2007 at 10:48 AM

It was a great show today and it's fun for me to listen to how much others love this village! Mabye bajaboy can be on tomorrow although he'll be busy painting his casita probably, or hooking a big yellowtail!

DianaT - 10-11-2007 at 10:52 AM

Hook,

Ask away and we will answer any question we can. You need to visit down there!

Diver----Trust me, not a picture you would like to see---you are so bad. :rolleyes:

Guess we have to get back down there quickly so our dogs can continue to mark their territory---their territory is growing daily --- you can just imagine what land they have claimed. :lol::lol:

Diane

Hook - 10-11-2007 at 01:14 PM

Quote:
Originally posted by jdtrotter
Hook,

Ask away and we will answer any question we can. You need to visit down there!

Diver----Trust me, not a picture you would like to see---you are so bad. :rolleyes:

Guess we have to get back down there quickly so our dogs can continue to mark their territory---their territory is growing daily --- you can just imagine what land they have claimed. :lol::lol:

Diane


OK, Diane, here's one.......

When you went to the notario for the final signing , did the seller, the notario and any intermediary insist that you NEVER tell Mexico City what the actual amount is you paid for the land? Instead you "agree" on an unofficial purchase price that is significantly below what we paid for it and submit that. It ends up reducing fees for everyone (except maybe the notario) and it is generally agreed that only a fool would submit the real amount that was paid. Did you do this Mexican two-step?

Anyone else?

vandenberg - 10-11-2007 at 01:47 PM

Hook,
Those kind of shenenigans are pulled all the time. However in the long run someone is going to get stuck with a substantial capital gains bill. I know of folks that finagled the purchase price of their casa on purchase, only to get stuck with an additional $ 25.000.00 in taxes when they sold. Better get some good, sound advice before you consider this.

DianaT - 10-11-2007 at 01:53 PM

Quote:
Originally posted by Hook

OK, Diane, here's one.......

When you went to the notario for the final signing , did the seller, the notario and any intermediary insist that you NEVER tell Mexico City what the actual amount is you paid for the land? Instead you "agree" on an unofficial purchase price that is significantly below what we paid for it and submit that. It ends up reducing fees for everyone (except maybe the notario) and it is generally agreed that only a fool would submit the real amount that was paid. Did you do this Mexican two-step?

Anyone else?


Hook,
We did our bank trust through an agent in La Paz---gave him power of attorney so we never appeared in front of the notario. (He did a good job for us) Our bank trust and purchase agreement show the actual price we paid---we were never asked to change it. Don't know what is "usual" practice, but being asked to lie would have made us both uncomfortable.

I would think that if you decided to sell the property in the future, having a lower price on the papers could hurt you in paying capital gains unless the next buyer would agree to keep the price low.

I don't understand the comment about Mexico City, but maybe someone else can address that question.

Diane

Diver - 10-11-2007 at 03:25 PM

Hook,

If you are buying, a little price inflation may not be a bad idea.
You will pay 2% aquisition tax now but avoid the huge capital gains on the inflated amount if you ever sell.
To reduce the amount of the recorded sale makes no sense to the buyer in the long run.
.

Hook - 10-12-2007 at 10:36 AM

This is not as nefarious as it sounds. It's only bare land and may not ever have much in the way of true permanent structures on it.