BajaNomad - Buying property

Buying property

Turyturbo - 7-29-2009 at 07:13 PM

I am interested to buy a beachfront property between Loreto and Cabo. I gathered the information from friends who owns the land in Baja.

Info:
1) Mexico Trust Bank rip off and gives the real estate people second comission.
2) To apply with Mexico Trust Bank, I have to buy a land first which does not make sense to me.
3) Hire a CPA, Attorney, and Certified geologist/something to check if the land is safe for me to purchase without any issues.
4) You can't "buy" within 62 miles of the shore line. (huh? why do they sell them on the website?)
5) 5-10k fee for using trust bank?!?!? are you kidding? why?
6) Losing ownership at anytime at the command of the leader of Mexico? Ack! Is there a way to prove that the US citizen won't lose their ownership at any time in Baja?
7) Water is unpredictable in Baja. Could get cut-off any time due to its toxification level (containment) so no water coming into the house.
8) After issued with Trust bank, it lasts up to 40 years and only are inheritable but not assumable?

Please share more details so I can confirm that it is worth for me to buy a property in Baja. Thank you.

Diver - 7-29-2009 at 07:25 PM

Let me be the first to say, "Hello TROLL". :rolleyes:

Welcome to Nomads where even the administrator is a troll. :lol:

Knock youself out; maybe you can beat ramuna53 for post count !! :lol:

fishbuck - 7-29-2009 at 07:26 PM

Isn't 1 and 5 the same thing? How does it give the sales people a second commision?
But ya, $5000+ seems like a rip.

DENNIS - 7-29-2009 at 07:27 PM

I get the idea that you arn't quite ready for this. You're getting bad info and you don't seem to have that openminded quality that's required to dive into the field of Mexico real estate.
Why don't you just rent a couple of nice condos and relax....enjoy life.

Russ - 7-29-2009 at 07:30 PM

You sound really negative here. However we're here to help you if we can. The only thing I can absolutely say to help is DO NOT use Bancomer for your trust. Then wipe all the stuff you friends told you cuz you have some new ones here and some of us see the glass half full. You really want to start this on a up beat cuz you'll go through some highs and lows while you deal with this new way of doing business. OK, now go to the top of any page here and click on search. Put in Bank Trust.. Fido ... or fideiocamiso (sp error on that one I think) and read what's been said. There's a lot of stuff. Good Luck!

[Edited on 7-30-2009 by Russ]

Turyturbo - 7-29-2009 at 07:33 PM

Quote:

Originally posted by Diver
Let me be the first to say, "Hello TROLL". :rolleyes:

Welcome to Nomads where even the administrator is a troll. :lol:

Knock youself out; maybe you can beat ramuna53 for post count !! :lol:

Okay....I do not get used with forum. My friend suggested me to use this forum to get information. This is my first information which is 'to be Troll'. Must be valuable information. Thank you, I guess.

rts551 - 7-29-2009 at 07:33 PM

come on guys. Diver hit the troll on the head. Doesn't he sound just a little familiar?

Turyturbo - 7-29-2009 at 07:34 PM

Quote:

Originally posted by fishbuck
Isn't 1 and 5 the same thing? How does it give the sales people a second commision?
But ya, $5000+ seems like a rip.

I agreed but I believe I must miss something what they tried to tell me. Maybe they tried to scare me off and prevented me from buying property in Baja. Who knows.

DENNIS - 7-29-2009 at 07:35 PM

Quote:

Originally posted by rts551
come on guys. Diver hit the troll on the head. Doesn't he sound just a little familiar?

I could easily agree. Need a couple of slime laced posts to make a decision.

DianaT - 7-29-2009 at 07:36 PM

Quote:

Originally posted by rts551
come on guys. Diver hit the troll on the head. Doesn't he sound just a little familiar?

rts551 - 7-29-2009 at 07:39 PM

give it time Dennis. Give it time. The poor Spanglish gives him away, He needs to stay home with the gate closed,

Turyturbo - 7-29-2009 at 07:41 PM

Quote:

Originally posted by DENNIS
I get the idea that you arn't quite ready for this. You're getting bad info and you don't seem to have that openminded quality that's required to dive into the field of Mexico real estate.
Why don't you just rent a couple of nice condos and relax....enjoy life.

I went to Baja with my family for fishing every year for 10 years before I went to college. Places we fished, stayed and toured are Loretto, East Cape, La Paz, Cabo San Lucas and more.

Few years later, my wife and I started to visit Baja and it is our fourth year. We really love there. We both are considering into owning a property and hang there more often annually.

Unfortunately, we are having lack of information about everything so we decided to talk to the american who owns land in Baja and they gave us some good and some bad information. So I decided to use this forum to clear up the confusion.

Sorry if my post is wasting your time. If so, I will look somewhere else. Thanks for replying.

toneart - 7-29-2009 at 07:46 PM

Turyturbo,
Welcome! You will probably get some typical Newby's responses because you have so much to learn. Your questions will take a lot of thought and there will be many opinions. Also, there are lots of strings on the BajaNomad that already cover a lot of your questions. This is a good source for information. There are a lot of experienced Baja homeowners here. There are also a lot of crusty old cynics who think they know it all. Their attitudes will tip you off.

Here is my advice: Try to search for these topics here that have already been covered. Many of your questions contain assumptions and misinformation. While here on this forum, lurk and learn. There is are a couple of strings on this subject that are running currently. Jump into them and read. Then you will be better equipped to ask specific questions.

The best thing to do is to go to the area you are interested in. Rent for a year. Do a lot of legwork and homework while you are there. Talk to homeowners who are already there.

Your #1 question is not true according to my experience. I have never read this to be anyone else's experience either. Having said that, there are so many schemes and pitfalls that are waiting to part you with your money, that there could be unscrupulous R.E. agents waiting to rip you off. In today's economic environment, that could be said for just about anywhere; U.S. included.

Buying securely in Baja is not easy. If you rent for a year you will be better equipped to know if you have the temperament to cope. Do you know the Mexican culture or do you speak any Spanish? Many many people have made the plunge and regretted it later. It has ruined lives and marriages. Also, things change politically. There are no real guarantees. Today's guarantees could be skewered tomorrow.

There are also many many people who have made the choice, cleared all the hurdles (well, you are never totally clear), and they love it. It takes a special kind of person to make the risks and frustrations worth it.

Some choose to put a trailer on their land. Some build modest palapas. If you want to buy a house, buy one that is already built. There are great deals out there. If you get that far into it, ask here for legal references.

Good luck! Don't give up if this is your dream. But be prepared to have it occupy all your time and attention.

DENNIS - 7-29-2009 at 07:46 PM

Quote:

Originally posted by Turyturbo
Sorry if my post is wasting your time. If so, I will look somewhere else. Thanks for replying.

Nah...I'm retired. Plenty of time.

Here's some info for you:

http://www.mexonline.com/propmex.htm

Turyturbo - 7-29-2009 at 07:49 PM

Quote:

Originally posted by Russ
You sound really negative here. However we're here to help you if we can. The only thing I can absolutely say to help is DO NOT use Bancomer for your trust. Then wipe all the stuff you friends told you cuz you have some new ones here and some of us see the glass half full. You really want to start this on a up beat cuz you'll go through some highs and lows while you deal with this new way of doing business. OK, now go to the top of any page here and click on search. Put in Bank Trust.. Fido ... or fideiocamiso (sp error on that one I think) and read what's been said. There's a lot of stuff. Good Luck!

[Edited on 7-30-2009 by Russ]

Thanks Russ. I used wrong keyword in the search box and kept getting wrong result. I guess I will get more information about Stewart Title, Bank Trust and fideiocamiso. Appreciate that, Russ

toneart - 7-29-2009 at 07:52 PM

My "Troll" alarm has not gone off yet. Our frequent troll usually starts right off with insults and I am his chief target.

English may not be this guy's first language. His writing patterns are entirely different than the troll we have all gotten to know. I could be wrong but I like to give the benefit of the doubt unless or until the slime starts spewing.

DENNIS - 7-29-2009 at 07:58 PM

Quote:

Originally posted by toneart

English may not be this guy's first language.

I think it is. It's becoming more coherent as we enter the bonding process.
No troll here.

Turyturbo - 7-29-2009 at 07:58 PM

Quote:

Originally posted by toneart
Turyturbo,
Welcome! You will probably get some typical Newby's responses because you have so much to learn. Your questions will take a lot of thought and there will be many opinions. Also, there are lots of strings on the BajaNomad that already cover a lot of your questions. This is a good source for information. There are a lot of experienced Baja homeowners here. There are also a lot of crusty old cynics who think they know it all. Their attitudes will tip you off.

Here is my advice: Try to search for these topics here that have already been covered. Many of your questions contain assumptions and misinformation. While here on this forum, lurk and learn. There is are a couple of strings on this subject that are running currently. Jump into them and read. Then you will be better equipped to ask specific questions.

The best thing to do is to go to the area you are interested in. Rent for a year. Do a lot of legwork and homework while you are there. Talk to homeowners who are already there.

Your #1 question is not true according to my experience. I have never read this to be anyone else's experience either. Having said that, there are so many schemes and pitfalls that are waiting to part you with your money, that there could be unscrupulous R.E. agents waiting to rip you off. In today's economic environment, that could be said for just about anywhere; U.S. included.

Buying securely in Baja is not easy. If you rent for a year you will be better equipped to know if you have the temperament to cope. Do you know the Mexican culture or do you speak any Spanish? Many many people have made the plunge and regretted it later. It has ruined lives and marriages. Also, things change politically. There are no real guarantees. Today's guarantees could be skewered tomorrow.

There are also many many people who have made the choice, cleared all the hurdles (well, you are never totally clear), and they love it. It takes a special kind of person to make the risks and frustrations worth it.

Some choose to put a trailer on their land. Some build modest palapas. If you want to buy a house, buy one that is already built. There are great deals out there. If you get that far into it, ask here for legal references.

Good luck! Don't give up if this is your dream. But be prepared to have it occupy all your time and attention.

Toneart - Thank you for the greetings. Yes, my mother's side speaks Spanish. I am half-spanish but, unfortunately, I do not speak Spanish because I am deaf. However, I know Mexican Sign Language. My wife can speak Spanish but not fluent like my family. Yes, I agreed with you about digging more information from people but I kept searching with wrong words or asking wrong questions. My first post led me to right step to start with.

Thank you and I won't give up my dream. Fishing, diving, sailing, kayaking are my hobbies. I grew up in desert so Baja is not an issue for me. Mexican food are our favorite food. Look forward to be educated through this forum.

Turyturbo - 7-29-2009 at 08:02 PM

Quote:

Originally posted by DENNIS

Quote:

Originally posted by Turyturbo
Sorry if my post is wasting your time. If so, I will look somewhere else. Thanks for replying.

Nah...I'm retired. Plenty of time.

Here's some info for you:

http://www.mexonline.com/propmex.htm

Thanks for the link. I am reading it right now......interesting about how the contract is processing/working..... Lucky you. I wish I could retire now. I am only 31 years old. I have to sit my butt developing some software daily or traveling around to listen/read the documentation about architecture, design, and implementation. By the way, I am looking forward to go to San Quintin in three weeks with my family.

Turyturbo - 7-29-2009 at 08:04 PM

Quote:

Originally posted by DENNIS

Quote:

Originally posted by toneart

English may not be this guy's first language.

I think it is. It's becoming more coherent as we enter the bonding process.
No troll here.

hehe, you guys are right about my language. English language is not my first language. Sign language (ASL) is my first language, spanish language is my second language then finally, English is my third. Unfortunately, once I adapted English language, I forgot most spanish language because I do not speak that well.

I guess you may call me a deaf troll.

toneart - 7-29-2009 at 08:05 PM

What kind of time do you have? Are you working or can you take a year off and rent in Baja? Go slowly. You can do all your hobbies and enjoy them much better without jumping into being a land or homeowner. You will have to test your level for stress tolerance. Have fun! Settle into your desired community.

Russ - 7-29-2009 at 08:08 PM

You most likely will have to filter the info cuz we do get off track from time to time but there's a lot of good stuff. After you get a list of questions try to ask them in more likable way. Being labled a "TROLL" is not what most here strive for. Some do. You won't need an attorney but some one honorable that has done this before. There you're going to have to do some leg work and find out who the people in the area you're interested in are using or have used. Before you give anyone a down payment for your property you'll want to get a report from SEMERNAT about the status of the land and what needs to be done before starting improvements. Don't take some ones word that everything is fine.

norte - 7-29-2009 at 08:10 PM

Oh I am so sorry. Most people I know who can't hear, yet go to college, put words to paper beautifully. Your case must be very difficult.

DENNIS - 7-29-2009 at 08:17 PM

Quote:

Originally posted by norte
Oh I am so sorry. Most people I know who can't hear, yet go to college, put words to paper beautifully. Your case must be very difficult.

We are a tough crowd of fast learners. :lol:

Udo - 7-29-2009 at 08:21 PM

Quote:

Stewart Title, Bank Trust and fideiocamiso.

Quote:

I could be incorrect, however, I think the correct spelling for fido is Fideicomiso. Either of the two words would work in a search.

BajaNuts - 7-29-2009 at 10:58 PM

here's some posts to read-
buying ejido land
http://forums.bajanomad.com/viewthread.php?tid=38902

labor laws
http://forums.bajanomad.com/viewthread.php?tid=40304

and here's a link to the forum about baja building, lots of posts, look for the topics of interest-
http://forums.bajanomad.com/forumdisplay.php?fid=51

lots of good reading in that forum.

If you go to the forum's home page, you will see all the different forum topics and you can look for the topic of interest to you. The Today's Posts shows all the topics posted today. Start with the topic of interest, work your way through.

Welcome! hope this helps-

slimshady - 7-31-2009 at 09:48 PM

I own several properties around the Los Cabos area and Los Barriles. Rules to follow and info to consider

1. Don't buy Ejido Land
2. U.S. Real Estate Agents and Companies mean nothing. Licensing is not required to sell real estate in Mexico. MLS means squat. Just because they speak English and are from the U.S. does not mean they won't rip you off.
3. Don't put a Deposit Down on anything unless your willing to lose it. 5k is fair.
4. 5k to 8k is a fair price for a FIDO
5. Don't put huge amounts of money down on future planned condo developments. The Developer will blow all the money even before the Project is complete.(Trump Baja).
6. Find someone who is a Mexican who knows how to search titles in La Paz. The books are old and in Spanish. They will see if the property you are selling is really Lien free and without lawsuit issues.
7. Use the above person to verify and assist you in dealing with the realtor. The Realtor may not like it but they they will at least watch your back.
8. If you find a realtor you can trust, They should glady assist you any future purchases even if they are not the sales agents.
9. Be prepared to walk away from any deal for any reason. Other properties will come.

Osprey - 8-1-2009 at 06:44 AM

Scripta manent, verba volent -- "Written words remain while verbal words fly away". No one you meet in Baja California should mind writing (in English or Spanish) what you need to learn from them when you meet face to face. You'll be the only one I know who will be in front of the pack as concerns who said what to whom, where, when, on what date and no one will be offended by your request. You'll also have the acquired supersense of knowing when that same person is being fair, straight and open with you. Maybe others should tune into your upcoming experiences. We can all learn -- never too late. (Well, maybe for me).

805gregg - 8-5-2009 at 06:48 PM

Quote:

Originally posted by slimshady
I own several properties around the Los Cabos area and Los Barriles. Rules to follow and info to consider

1. Don't buy Ejido Land
2. U.S. Real Estate Agents and Companies mean nothing. Licensing is not required to sell real estate in Mexico. MLS means squat. Just because they speak English and are from the U.S. does not mean they won't rip you off.
3. Don't put a Deposit Down on anything unless your willing to lose it. 5k is fair.
4. 5k to 8k is a fair price for a FIDO
5. Don't put huge amounts of money down on future planned condo developments. The Developer will blow all the money even before the Project is complete.(Trump Baja).
6. Find someone who is a Mexican who knows how to search titles in La Paz. The books are old and in Spanish. They will see if the property you are selling is really Lien free and without lawsuit issues.
7. Use the above person to verify and assist you in dealing with the realtor. The Realtor may not like it but they they will at least watch your back.
8. If you find a realtor you can trust, They should glady assist you any future purchases even if they are not the sales agents.
9. Be prepared to walk away from any deal for any reason. Other properties will come.

Great response, some good info there, thanks.