fdt
Ultra Nomad
Posts: 4059
Registered: 9-7-2003
Location: Tijuana, Baja California
Member Is Offline
Mood: Yeah, what if it all goes right
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Diane Trotter = jdtrotter
Will be our special guest today and we will be talking about Asuncion and of course about the nomad challange of "matching dollar for dollar any Nomad
donation for the Lobos Marinos" , I also have tequila and Caesar tickets still available to give away.
9:30AM Pacific.
A well informed Baja California traveler is a smart Baja California traveler!
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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Wow, disappointed that I came in for the last ten minutes of the interview with Diane. Did she talk about building and buying down there? If so, can
somebody give me a quick synopsis?
Ferna, there is no archive of shows is there?
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Diver
Ultra Nomad
Posts: 4729
Registered: 11-15-2004
Member Is Offline
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Missed the whole dang thang !
Hope there's an archive !?
Could anybody tell if she was wearing a bikini like Shari ? 
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shari
Select Nomad
Posts: 13048
Registered: 3-10-2006
Location: bahia asuncion, baja sur
Member Is Offline
Mood: there is no reality except the one contained within us "Herman Hesse"
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It was a great show today and it's fun for me to listen to how much others love this village! Mabye bajaboy can be on tomorrow although he'll be busy
painting his casita probably, or hooking a big yellowtail!
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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
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Hook,
Ask away and we will answer any question we can. You need to visit down there!
Diver----Trust me, not a picture you would like to see---you are so bad. 
Guess we have to get back down there quickly so our dogs can continue to mark their territory---their territory is growing daily --- you can just
imagine what land they have claimed. 
Diane
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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| Quote: | Originally posted by jdtrotter
Hook,
Ask away and we will answer any question we can. You need to visit down there!
Diver----Trust me, not a picture you would like to see---you are so bad.
Guess we have to get back down there quickly so our dogs can continue to mark their territory---their territory is growing daily --- you can just
imagine what land they have claimed.
Diane |
OK, Diane, here's one.......
When you went to the notario for the final signing , did the seller, the notario and any intermediary insist that you NEVER tell Mexico City what the
actual amount is you paid for the land? Instead you "agree" on an unofficial purchase price that is significantly below what we paid for it and submit
that. It ends up reducing fees for everyone (except maybe the notario) and it is generally agreed that only a fool would submit the real amount that
was paid. Did you do this Mexican two-step?
Anyone else?
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vandenberg
Elite Nomad
Posts: 5118
Registered: 6-21-2005
Location: Nopolo
Member Is Offline
Mood: mellow
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Hook,
Those kind of shenenigans are pulled all the time. However in the long run someone is going to get stuck with a substantial capital gains bill. I know
of folks that finagled the purchase price of their casa on purchase, only to get stuck with an additional $ 25.000.00 in taxes when they sold. Better
get some good, sound advice before you consider this.
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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
Member Is Offline
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| Quote: | Originally posted by Hook
OK, Diane, here's one.......
When you went to the notario for the final signing , did the seller, the notario and any intermediary insist that you NEVER tell Mexico City what the
actual amount is you paid for the land? Instead you "agree" on an unofficial purchase price that is significantly below what we paid for it and submit
that. It ends up reducing fees for everyone (except maybe the notario) and it is generally agreed that only a fool would submit the real amount that
was paid. Did you do this Mexican two-step?
Anyone else? |
Hook,
We did our bank trust through an agent in La Paz---gave him power of attorney so we never appeared in front of the notario. (He did a good job for
us) Our bank trust and purchase agreement show the actual price we paid---we were never asked to change it. Don't know what is "usual" practice, but
being asked to lie would have made us both uncomfortable.
I would think that if you decided to sell the property in the future, having a lower price on the papers could hurt you in paying capital gains unless
the next buyer would agree to keep the price low.
I don't understand the comment about Mexico City, but maybe someone else can address that question.
Diane
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Diver
Ultra Nomad
Posts: 4729
Registered: 11-15-2004
Member Is Offline
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Hook,
If you are buying, a little price inflation may not be a bad idea.
You will pay 2% aquisition tax now but avoid the huge capital gains on the inflated amount if you ever sell.
To reduce the amount of the recorded sale makes no sense to the buyer in the long run.
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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This is not as nefarious as it sounds. It's only bare land and may not ever have much in the way of true permanent structures on it.
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