BajaNomad

Fideocomiso- How long to complete?

larryC - 2-15-2015 at 04:04 PM

A friend of mine is just starting one and is trying for a 60 escrow (his words) does anyone have more recent info on how long the process takes now? When I did mine 7 years ago it took 1.5 years start to finish but we didn't push. 60 days sounds a little faster than possible, but who knows.
Larry

mtnpop - 2-15-2015 at 04:26 PM

Several factors can come into play from our experience and many we have talked with...
ours was just over a year.... I have see some only take 90 days but don't remember any 60 dobay ones...

Depends on which Notario has it,, who is there to keep on top of the paperwork with them... also if there are any problems with the property title... if buyer/seller get all the blanks filled in... and the money changes hands...
if there is a Fidei. already on it you should be able to transfer it for less $$$$ and in a quicker time frame...
If one blank is not filled in then it seems to stall things for awhile

Some folks have dealt with it taking up to 4 years due to many little quirks or big quirks if you know what I mean...
Wishing them much good luck and don't get to frustrated if it does not happen as expected...
Sit back, relax, have a cold one and remember where you are buying the property,,,,, It ain't the good ole US of A....
May the force be with you.....