we are looking at a place in the south campo's from San Felipe
its on Lease land, the lease is not assumable, so I will be getting a new lease thru the landlord, he has his own lease already,, do I need the lease
notarized, filed with a government agencey?
we will be buying the building and improvements and some personal things,,what is the best way to handle this, would a simple BILL of Sale be okay??
any suggestions?J.P. - 7-8-2012 at 09:41 AM
If it's on leased land . Bill of sale and new lease is about as good as it get's no need to pay good money to a notario /tax collector and stay away
from those bottom feeder real estate people over there they can do nothing for you but take your moneydesertcpl - 7-8-2012 at 10:34 AM
sounds okay to me,, thanksLee - 7-8-2012 at 10:49 AM
Quote:
Originally posted by J.P.
.... stay away from those bottom feeder real estate people over there they can do nothing for you but take your money
Stay away from bad advice and this assumption is bad.
Yes there are sharks trying to scam but after asking around, you might know who to stay away from.
Don't cut corners trying to save a buck. If you know what you're doing -- knowledge of MX RE law, transactions, fidu's, leases, no problem.
If not, pay someone to help you.
That said, it's possible there are no honest and trustworthy real estate people in San Felipe.larryC - 7-8-2012 at 01:03 PM
Maybe a consutation with a Mexican attourny migh be in order. When I bought on leased land I paid the gringo seller and he gave me the appropiate
titles for the vehicles that were included then he walked away. The landlord wrote me a new lease and no problems since. That was in '98. Hope it
works for you.
LarryDavidE - 7-8-2012 at 01:12 PM
The general reputation of whomever you're going to do business with may make a difference in how you feel about doing business with them. Ask around,
is my advice.J.P. - 7-8-2012 at 01:20 PM
Other than what i posted above the best advice would get to know the people that live in the same place and find out how they feel about the owner.
There is no such thing as a legitimate real estate Gringo in Mexico what ever credentials they claim to have in the U.S. mean nothing in Mexicomcfez - 7-8-2012 at 06:48 PM
Make sure that the lease is for one day less of ten years. There is no renewal terms on leases BTW
Yes.........ASK the tenants about the current owner of the land, that's where 99% of the issues comes from. Rent at the camp for a month or two and
see the reality of it!
Get the building restrictions in writing. Are all of the ults. paid for, if any. (installations). We had to pay "our" part of the power being brought
in, as well as the water.
Can you hire whoever you wish to do the construction?
San Felipe is great. We have a primary vacation home in Campos Ocotillo.
[Edited on 7-9-2012 by mcfez]chumlee57 - 7-8-2012 at 08:20 PM
All good questions and answers, look, even under the best of circumstances, buying RE in mex is a crap shoot right now. Across the baja
Profepa/semranat are flaging people for buying RE that is zoned 'rancho' not residential, and it is not known until you go for a building permit in La
Paz ( not local juriststriction ). all things can be worked out in baja, but remember the golden rule " never invest more than you can walk away from"
unfortunatly that will be the case until things change. But hey, we are all
invested if we are here on this board. Also, don't rush into anything, and yes, buying from a reputable mexican citizen is KEYmrfatboy - 7-9-2012 at 03:50 AM
Just curios if there is any recourse if something goes wrong with a lease? It seems like you are at the mercy of the landlord and whoever takes over
for him down the line.
It seems to me it's all about the relationship and "paper" means nothing down there. My friends have owned one of those "round houses" in Rancho
Percebu (south of SF) since the '70s. The stories they have told about their lease is crazy. They really don't know who is in charge nowadays. The
last time I heard is that they are paying somebodys sister in Oceanside their yearly lease fee. They are just waiting for someone to come out of the
woodwork and say they don't own it anymore. They only paid $7k in the 70s for it and only pay $1200 per year lease fee so they feel they can walk
away if it comes down to it.SFandH - 7-9-2012 at 06:50 AM
Quote:
Originally posted by desertcpl
do I need the lease notarized, filed with a government agencey?
I've read about "registering" the lease with the local notario, but I'm not sure. Look into it. It would make sense to have a notario's rubber stamp
approval/witness signature on it. They are the guys that validate real estate transactions.comitan - 7-9-2012 at 07:51 AM
A lease in Mexico is all about TRUST if you are not comfortable with the people your dealing with forget it, you'll always be worried and won't be
able to enjoy.Pescador - 7-9-2012 at 07:55 AM
I disagree with the notion that a lease does not need to be registered. I think you should always have your lease registered with a Notario which
means that it becomes a legal document in case anything goes sideways, which can and does happen. It also stops the "he said, she said" kind of
problems which always arise in the process of a 10 year agreement. There are several websites which you can google about leasing in Mexico and I also
suggest you spend a little time there reading the information. I had a very successful lease situation that was registered with a Notario and it
saved me having to do a Fideocomiso and then change it when I got citizenship.desertcpl - 7-9-2012 at 08:45 AM
all good advise,
and yes I have heard alot of horror storys about some of the owners
I would not be spending that much on this place, as its basically a garage and utility room with a RV pad
I think it might be a good idea for me to pay for at least a consultation, like every one I dont expect problems but I am not looking for one either,chuckie - 7-11-2012 at 05:40 PM
DontKatiejay99 - 7-12-2012 at 07:16 AM
I think the biggest problem I have heard about with leases is when someone signs a lease with a landlord who is actually leasing from the owner of the
property. That lease would only be good for 10 years as well. What I have heard is that, in this case, there have been some of those landlords who
will pocket the money and not pay the owner and seeing as how the Mexican legal system takes years, the outcome is always disastrous for those paying
who are eventually kicked out and their leases nullified. I would recommend leasing from a place that has been around for at least 2-5 years and not a
sartup.
So, be sure you are dealing with the legal owner of the property and the lease states that it is also binding to their heirs.
There is a very reputable real estate lawyer here in Todos Santos who speaks excellent English and you may want to run it by him. His name is Felipe
Rodriguez and his email is rodriguezlara at hotmail.com.
unfortunatly that will be the case until things change. But hey, we are all
invested if we are here on this board. Also, don't rush into anything, and yes, buying from a reputable mexican citizen is KEY