BajaNomad - Mulege casita for sale with trust deed $29,900

Mulege casita for sale with trust deed $29,900

noproblemo2 - 12-3-2009 at 04:11 PM

photos or link to casita? Contact info? etc.......

capt. mike - 12-4-2009 at 08:51 AM

yeah - more scoop pls.

email me details - and pix would be nice.
n7369p at q dot com

[Edited on 12-6-2009 by capt. mike]

jncmaas777...

Pompano - 12-6-2009 at 07:40 AM

We were visiting yesterday in the Orchard and I took the liberty of getting you some easy drive-by photos on Nomads for number 108.

Sorry, I don't have any interior views. Buene suerte.

capt. mike - 12-6-2009 at 07:59 AM

Thx Roger - i'll send these pics on.
Wx looks nasty for next weekend so not 100% sure if we'll arrive or not.
i don't like rime ice.

capt. mike - 12-19-2009 at 02:18 PM

bump for owner.
i'll send info to the party i was talking too.

Lobsterman - 12-19-2009 at 05:32 PM

Looks like a great price. Always have wanted to live on the river there but the last two hurricanes make me much more leary. What ever happened about the Mexican government talking about not allowing homes in the Mulege River's flood plain?

toneart - 12-19-2009 at 05:47 PM

From what I understand, the gov. is not allowing any new construction along the river. Repairs to existing structures are allowed. The damage in The Orchard ranged from total destruction to lightly touched. As always, clean up is the most critical first step... then functional repairs.

In my opinion, which is biased because I have one there, is that if it is still standing after this last hurricane (Jimena), it is still worth something. That was the hurricane of the century and is not likely to repeat anytime soon with that magnitude.

The house for sale in this string is a very good price. I think that the worst that could happen (likely) is that it would get flooded again and would have to be cleaned up again. That is the risk and IMHO it is worth it. We all have Fideicomisos too. The lot alone is worth the asking price. If the house disappears, you still have an RV Pad and a place to camp out. :yes:

Packoderm - 12-19-2009 at 06:03 PM

Why don't people build a first story platform out of cement filled with earth to get their casas up and out of the flood waters?

toneart - 12-19-2009 at 06:24 PM

Quote:

Originally posted by Packoderm
Why don't people build a first story platform out of cement filled with earth to get their casas up and out of the flood waters?

...because they are concrete block construction with rebar and tied into a foundation. You can't just pick it up. Your idea is good for new construction, but these are already here. The newest house built on the river road last year was built over a garage although it was not filled with compacted earth. The cement floor above it supported the living area. That house did survive!

Ironically, the only structures on stilts were made of wood...with palapa roofs...a better material (lighter) for weight bearing stilts. They all burned to the ground in the palm forest fire three years ago.

These casitas are solidly built, and set back from the river. Those that collapsed were undermined by the surging flood water and they fell into deep holes. The others were right along the river and most were swept away. Those that remain seem to have been in a better location, terrain wise, and will probably never fall down. Look at the photos. Judge for yourself. Nothing is for sure, but for the price...it is a good deal!

Alan - 12-19-2009 at 06:30 PM

It looks like a great deal. What are the annual park fees?

Mulege casita

jncmaas777 - 12-19-2009 at 07:09 PM

HOA is $50 per month .

shari - 12-20-2009 at 07:18 AM

what a sweet casita! Is that fireplace on the inside too?? is it like an indoor outdoor thing?? pretty cool

Mexicorn - 12-20-2009 at 11:37 AM

I'd like to check it out Please advise of a dog friendly hotel and where to stay the first night. I'll be leaving Ensenada on Saturday morning at dawn. Please advise where to stay and how much ground I can cover in one day.
Thanx
The Mexicorn

mulegemichael - 12-20-2009 at 11:46 AM

we've been allowed to keep our dog at malarrimos in guererro negro; you can make it there the first day...then it's a short half day to mulege...good luck and stop at our place for a cold one; #54 in the oasis

capt. mike - 12-20-2009 at 12:35 PM

Tony - got your messages, thx.
see you this spring.

may be my buddy will spring the $$ he is loaded....and wants a place to hide out off and on.
i should just split it with him.

Mexicorn - 12-21-2009 at 08:08 AM

When they say Trust included does that mean it can be transfered to my name and for how much? I paid notario Saad in Ensenada over 12K to get my last one. Also is this home in a flood zone?
Although 35K is a great place for my Winter home I want to be sure it'll be there in a few years.

Santiago - 12-21-2009 at 08:11 AM

Quote:

Originally posted by Mexicorn
Also is this home in a flood zone?

Freshly painted interior with all new electrical outlets and breakers.

Bajahowodd - 12-21-2009 at 01:03 PM

I've visited The Orchard. It's a lovely place. Tony is absolutely correct that the asking price is a fantastic deal.

I was wondering, in light of the suggestions made in prior posts about building on a raised foundation, if that would have meant anything in the face of Jimena. I know that in previous storms, the ground floors of these units had been flooded. But given the reports posted here and elsewhere, was wondering just how high water was from Jimena.

That said, it I was a betting man, I'd go with the idea that anything like Jimena is not likely to happen again any time soon.

capt. mike - 12-21-2009 at 02:01 PM

by nature do all these have fideocomisos that need to be transfered?
that's how you "own" said dirt?
i.e. a trust was set up when he spun off these lotas and built the casitas for the non rental market?
so in theory at least what's been established as a trust under one of these has weathered challenge thus far?
what if he sells the whole property? isn't some of it under lot leases?

i say good deal with provable good title?
will Stewart or 1st American write insurance for it?

trust deed cost

jncmaas777 - 12-21-2009 at 03:49 PM

Closing cost including the Trust deed will be around $6,000 on this casita.

fender - 12-21-2009 at 04:09 PM

Quote:

Originally posted by jncmaas777
Closing cost including the Trust deed will be around $6,000 on this casita.

that's right on the money for what I've always paid (regardless of sales price)

Mulege casita Trust deed

jncmaas777 - 12-21-2009 at 04:17 PM

The cost of closing including Trust deed, buyers sales tax and legal fees will be around $6,000 . I know this because I had a sales agreement written up that fell through in the end.

mtgoat666 - 12-21-2009 at 04:28 PM

Quote:

Originally posted by Bajahowodd
if I was a betting man, I'd go with the idea that anything like Jimena is not likely to happen again any time soon.

perhaps you would like to bet against me?

probability of large hurricane or precip event this coming year is same as last year -- recent storm does not "reset" probability value or otherwise significantly affect probability.

Bajahowodd - 12-21-2009 at 04:30 PM

Don't go scientific on me!

capt. mike - 12-21-2009 at 05:17 PM

Quote:

Originally posted by jncmaas777
The cost of closing including Trust deed, buyers sales tax and legal fees will be around $6,000 . I know this because I had a sales agreement written up that fell through in the end.

SO AFTER THAT you have the yearly trust mant fee the bank charges, right?
and does the local park owner get a cut?
sorry - i am new to this.

Bajahowodd - 12-21-2009 at 05:22 PM

I believe that has been answered. HOA for $50/ mo. The Fide gives full ownership. I'm assuming the HOA dues provide for something of value, such as trash hauling, outcalls, and pedicures?

yearly trust fee

jncmaas777 - 12-21-2009 at 05:27 PM

To maintain a Trust it runs about $480 a year

Bajahowodd - 12-21-2009 at 05:30 PM

Just curious. Have you had any serious buyers/ offers? Since it's illegal to buy with the FM-T, I would be at a disadvantage. Unless you are patient.

k-rico - 12-21-2009 at 05:39 PM

Quote:

Originally posted by mtgoat666

Quote:

Originally posted by Bajahowodd
if I was a betting man, I'd go with the idea that anything like Jimena is not likely to happen again any time soon.

That's true, they are independent events, like flipping a coin. It's 50-50 heads/tails regardless of previous outcomes.

When somebody uses the term "100 year flood" what they really mean is that in ANY year there is a 1 in 100 chance of it happening.

Also, the term "trust deed" that's being used is incorrect. Trust deeds and fideicomisos are two very different animals. But that's nitpicking, everyone here understands fidiecomisos.

AND, that's a great price. The Orchard is sort of a magical place. But the annual property taxes are too high for me.

k-rico - 12-21-2009 at 06:00 PM

Quote:

Originally posted by Bajahowodd
The Fide gives full ownership.

Careful there. You are the sole beneficiary of a trust with full and sole use of the property, the right to sell it, and the right to will it for the term of the trust, current maximum 50 years. Fideis are renewable. The bank is the trustee and holds the deed, the original Mexican owner is the trustor. It's a contract.

I think I got that right. Anyone?

[Edited on 12-22-2009 by k-rico]

longlegsinlapaz - 12-21-2009 at 06:10 PM

Quote:

Originally posted by capt. mike
by nature do all these have fideocomisos that need to be transfered?
that's how you "own" said dirt?
i.e. a trust was set up when he spun off these lotas and built the casitas for the non rental market?
so in theory at least what's been established as a trust under one of these has weathered challenge thus far?
what if he sells the whole property? isn't some of it under lot leases?

i say good deal with provable good title?
will Stewart or 1st American write insurance for it?

Quote:

SO AFTER THAT you have the yearly trust mant fee the bank charges, right?
and does the local park owner get a cut?
sorry - i am new to this.

Mike, you're confusing leasing with a fideicomiso. Fideicomiso is issued on property you BOUGHT & bank holds title in your name. Once the fideicomiso is issued & paid for at signing at the Notarios, the only ongoing costs are the annual fideicomiso fee to the bank; currently $440 a year on a new fideicomiso....$400 & 10% IVA for a total of $440, annual property taxes, your elec, water & in this particular case $50 HOA dues. Seller will have to tell you what that fee covers. Once you pay the seller, you OWN it & all the rights to sell, remodel, pass on to heirs. No further monies go to the seller.

There's approximately $1K USD equivalent) difference between a brand new fideicomiso versus rolling over an existing fideicomiso to a new owner. The originally issued fideicomiso costs more because the initial paperwork has to be filed & registered with local, state & federal authorities. If you buy property with an existing fideicomiso, you save that +/-$1K.

Lease is more like renting & can be subject to rate hikes & other additional charges, eviction, etc., at the property owners whim...more of an iffy proposition.

Edit: K-rico, once the seller takes the money & signs off at the notary, he has legally signed away all & any further rights to the property.

[Edited on 12-22-2009 by longlegsinlapaz]

k-rico - 12-21-2009 at 06:35 PM

"once the seller takes the money & signs off at the notary, he has legally signed away all & any further rights to the property"

Thanks, I didn't know that. So if a fidei beneficiary abandons the property, and it is somehow offically declared abandoned, I suppose the trust still exists and owns the property, but with no beneficiary. You're saying it doesn't revert to the trustor? Perhaps it goes to the local government.

Mexicorn - 12-21-2009 at 06:54 PM

Quote:

Originally posted by jncmaas777
To maintain a Trust it runs about $480 a year

Are the first five years paid in advance like on my other house? Is that part of the 6K?
Can you please provide a breakdown with regard to the fidecomiso?
I was also told I could buy transfer your fidecomiso to my name is that true? How long have you had the fidecomiso? How high did the water mark on the inside of the home at the peak of the storm?
Thank you
Serious buyer-

longlegsinlapaz - 12-21-2009 at 07:24 PM

Quote:

Originally posted by k-rico
"once the seller takes the money & signs off at the notary, he has legally signed away all & any further rights to the property"

Thanks, I didn't know that. So if a fidei beneficiary abandons the property, and it is somehow offically declared abandoned, I suppose the trust still exists and owns the property, but with no beneficiary. You're saying it doesn't revert to the trustor? Perhaps it goes to the local government.

I honestly don't know the legalities regarding abandonment or possibly death of fideicomiso holder with no beneficieries. My gut feeling is that the bank would probably hold a quick sale! But I do know that it would not revert to the previous owner.

Anyone know how property in Mexico is disposed of if there is a long term unsatisfied lien? :?:

k-rico - 12-21-2009 at 07:47 PM

About ownership:

Article 27 of the Mexican Constitution of 1917

"Under no circumstances may foreigners acquire direct ownership of lands or waters within a zone of one hundred kilometers along the frontiers and of fifty kilometers along the shores of the country."

With a fideicomiso you are the beneficiary of a trust, you do not own the land in the eyes of Mexican law. Period.

http://www.ilstu.edu/class/hist263/docs/1917const.html

capt. mike - 12-22-2009 at 09:48 AM

thx all.
mexican RE 101.

much to learn. finding a trustworthy notario seems like best bet.

Steve&Debby - 12-27-2009 at 11:14 AM

Is this house still for sale?

Pompano - 12-27-2009 at 12:39 PM

Quote:

Originally posted by Steve&ebby
Is this house still for sale?

Yes, the owner told me a few days ago that it's back on the market.

jncmaas777@yahoo.com

[Edited on 12-27-2009 by Pompano]

Steve&Debby - 12-27-2009 at 04:24 PM

Thanks Pompano :yes:

Mexicorn - 12-27-2009 at 04:27 PM

It would be nice if someone could post photos of the Interior....

Mulege casita interior photos

jncmaas777 - 12-27-2009 at 04:36 PM

A photo of the interior is on craigslist, Mexico, baja sur, Mulege

Steve&Debby - 12-27-2009 at 09:05 PM

Don't see it on craigslist.

Craigslist photos

jncmaas777 - 12-28-2009 at 01:18 PM

Sorry, the add expired. Just re posted them

capt. mike - 12-28-2009 at 01:59 PM

its on there, i just looked, pics too.
are those pics post clean up?
nice property at the offering.

jncmaas777 - 12-28-2009 at 02:07 PM

The craigslist photos are pre- Jimena. Current photos are on the first page of this thread. Still a few repairs and exterior painting to do.

capt. mike - 4-8-2010 at 04:54 AM

i this one still avail??
if so it is on our short list.

owner or agent - please find us at Serenidad or jungle next 3 days, leave sun. for further south. ARR today.
ask for mike ot Tom - they know us .
i need my buddy to BUY something so i have a FREE place to stay... :saint:

rogerj1 - 4-8-2010 at 11:11 PM

Need partners?

capt. mike - 4-9-2010 at 06:54 AM

maybe. headed to frambes this morning to see the beach crew.
and guzzle red beers.....................

bob - RU up yet?? we have 6 coming at 11:00 or so. ice em down amigo

805gregg - 5-9-2010 at 07:14 PM

How about the yearly costs for hurricane damage? I talked to a shop owner in Mulege, he told me 30 years ago, he rented in the Orchard, but everyone told him not to buy there, you know why.

Mexicorn - 5-9-2010 at 07:36 PM

It is a pretty little house!

k-rico - 5-10-2010 at 06:34 AM

I was down there last month scouting around. I was disappointed to see that a lot of the debris from Jimena was not yet cleaned up. What concerned me the most was what appeared to be a lot of fallen trees and other debris still clogging up the river just to the east of the Orchard development. I'm thinking that this stuff will cause the river to more easily overflow its banks and therefore a smaller storm will again damage riverside buildings. Is that correct thinking?

They really should clear out the river towards the mouth so that it better handles floods. I assume the availability of money and heavy equipment to do so is a problem.