not that i'm in the market, but thanks.comitan - 4-17-2009 at 10:37 AM
This is also the same problem you have, if you buy into a Master Fidocomiso.Bronco - 4-17-2009 at 11:10 AM
I highly recommend Googling Grupo Lagza, even if your not going to buy. At least you can be informed and warn others.Woooosh - 4-17-2009 at 12:43 PM
Some baja developments even have multiple HOA's with owners (usually americans) fighting each other. One of the reasons we decided to shy away from
them.DianaT - 4-17-2009 at 01:18 PM
Always good to hear about these things.
Thanks
Comitan,
What is a Master Fidiocomiso? We have our invidual one, but I have not heard of a master one???
Thanks
Dianecomitan - 4-17-2009 at 02:01 PM
Master Fido, used for large condo & housing projects.flyfishinPam - 4-17-2009 at 05:32 PM
Quote:
Originally posted by bajaeng
one of the sad things about this is that now that everybody knows about this particular problem now, the real estate companies do not disclose it and
continue trying to sell
and this is why this place is importantrob - 4-18-2009 at 09:45 AM
. .. just when you think you have heard it all . . .MitchMan - 4-18-2009 at 10:40 AM
Americans Wake UP!
Stop buying into BEACHFRONT condo projects that never get completed. Consider buying at least 5 minutes away from the beach for 1/3 the cost or
less. You know, if you lived in Newport Beach California and just 5 minutes away from the beach, you would be living in a very prestigious expensive
exclusive area and would be considered to be tantamount to beachfront property.
There is an old European architectural concept used for centuries wherein you buy a lot, construct your house on iit, landscape the yard and enjoy
your own landscaped environment. That is what the missionaries did, that is the way the French Quarter in New Orleans is constructed, and that is the
way mansions in Beverly Hills are made.
Do you really NEED to buy into those cloistered American culture enclaves and pay the monthly HOA fee of $200 to $400 USD for life? If you have the
minimum $300,000 USD on hand and those new condo projects suit you, fine, do it. It’s Not illegal, not immoral.
But, if you are not a well-to-do American but instead you are of normal average financial means, like me for instance, then you might consider doing
things another way. Buy a lot, say 2,500 to 5,000 sq ft. Have a house built on it, say a studio at 500 sq ft or a 900 sq ft 2 bedroom house and
then landscape your yard. You can do it for $55,000 to $84,000 USD plus the closing cost of the land. You’ll own the land and with secure title (buy
title insurance). NO HOA and you are just a few minutes from the beach and downtown.
I don’t know, call me simple, but my family did it last year for $100,000. We got a 900 sq ft home built on a 9,300 sq ft lot with an 8 ft cinder
block fence all the way around the lot. We installed 5.5 tons of minisplit airconditioning, and wired the entire yard for electricity, and furnished
the house with new appliances and furniture. During the purchase process I was approached by two different people with equivalent homes at equivalent
prices to try to get us to change to them, so it wasn’t an isolated deal that we got.
What do you think of that?BajaGringo - 4-18-2009 at 10:46 AM
I think MitchMan is right. We are building a small place (1300 sq feet with the latest "adjustments") and are spending less than $60,000 on land and
construction.dtbushpilot - 4-18-2009 at 01:32 PM
To each his own....
We aren't wealthy, but not poor either. We have been coming to Baja for about 15 years. I bought a lot 12 years ago with the intent of building a
house. It wasn't beach front but close. My beautiful (and smart) wife decided that she wanted something on the beach so we started looking. We didn't
find anything that we liked right away but we did find a beach front condo about to be built. The realtor had a brochure with a picture on it but at
the time it was only a hill side. We, like everyone else interested had to put 50% down with 2 more payments along the way, the last one (25%) on
completion. It had all the makings of the story we have all heard, about the projects that never get completed and the lost money but we did our
homework. The developer had a good reputation and several large projects completed so we did it. The complex (14 units) was sold out by the time they
started pouring concrete.
The developer (DECOPE) finished the complex on time (mas o menos) and it looks just like the picture in the brochure, we couldn't be happier.
There have been and will continue to be some growing pains with a new building of this size and complexity and with the HOA issues that come up from
time to time but they really have been insignificant. Our HOA dues are considerably less than the cost of maintaining a house in our absense. This
isn't a "cloistered American enclave", 1/3 of the tenants are Mexican including the developer and his mother.
When I get here my place is ready to occupy and relax. Everything is where I left it, I don't have to fix anything, I have a secure gated parking lot
and garage, I can throw a rock in the water from my deck (at high tide).
I would rather have a house but it would have to be beach front, that's what my wife wants....so do I. I couldn't really afford a million plus dollar
house but I can afford this and it provides me with all I need at this time.
I feel sorry for those who have lost money in all of the shady deals that have gone on in Baja but there are still some developers and builders that
follow through with what they say. Do your homework, if it sounds too good to be true walk away and as always "buyer beware"........dtCypress - 4-18-2009 at 02:04 PM
Pretty simple north of the border, they call 'em "liens". By law, they're required to be listed along with all the rest of the property info. such as
easments, water rights, existing problems, etc. Woooosh - 4-18-2009 at 05:28 PM
I agree that you can buy your lot and build a nice house for not a lot of money. We bought our lot and waited until the paperwork was clear. Then we
designed the house the way we wanted it. Just cement block with wood beam ceilings. It's not what materials you use- it's how you use them. Two
years construction gave us time to shop for the best prices on fixtures, appliances and furniture- we like nice things but don't like to pay full
price for anything. Our builder did a contract- didn't miss a construction deadline (nor we a payment) and never tried to overcharge. He even knocked
on the door once and asked if anything needed fixing under his one year house warranty. Boy- those were the days!rogerj1 - 4-18-2009 at 11:30 PM
Good stuff Mitchman, you should post more often.BajaGringo - 4-18-2009 at 11:37 PM
Same here Woooosh. It's amazing the nice stuff you can find at bargain prices with a little patience and ingenuity...
