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Diver
Ultra Nomad
Posts: 4729
Registered: 11-15-2004
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Most folks I know have paid closer to $5K.
I have never heard of $10K for a fido - must be more to your situation ?
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Bajaboy
Ultra Nomad
Posts: 4375
Registered: 10-9-2003
Location: Bahia Asuncion, BCS, Mexico
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I think it all depends....last I heard for BA was in the $8k range. It's outrageous how expensive this process is when you think about what is
involved.
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BajaGringo
Ultra Nomad
Posts: 3922
Registered: 8-24-2006
Location: La Chorera
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Mood: Let's have a BBQ!
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Whether you create a banktrust or are able to obtain escrituras, much of the costs are tax; a percentage based on the sale price of the property and
the notario fees. The next biggest chunk of change will go to the person who performs the tramite for you. It may seem like a simple process when you
only look at the docs but if you have ever gone through the process it may involve many, many hours of time and many calls, trips back and forth and
waiting in line. A friend of mine does these tramites up here in Rosarito and I know how hard she works to get each one done.
I have seen many who have delayed their paperwork because of the costs thinking they could just sit on their sales contract safely until some time in
the future. I think that is a big risk and if anything ever happens to the seller in the meantime you run a big risk of losing the property.
YMMV
[Edited on 3-23-2009 by BajaGringo]
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Bajaboy
Ultra Nomad
Posts: 4375
Registered: 10-9-2003
Location: Bahia Asuncion, BCS, Mexico
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| Quote: | Originally posted by BajaGringo
Whether you create a banktrust or are able to obtain escrituras, much of the costs are tax; a percentage based on the sale price of the property and
the notario fees. The next biggest chunk of change will go to the person who performs the tramite for you. It may seem like a simple process when you
only look at the docs but if you have ever gone through the process it may involve many, many hours of time and many calls, trips back and forth and
waiting in line. A friend of mine does these tramites up here in Rosarito and I know how hard she works to get each one done.
I have seen many who have delayed their paperwork because of the costs thinking they could just sit on their sales contract safely until some time in
the future. I think that is a big risk and if anything ever happens to the seller in the meantime you run a big risk of losing the property.
YMMV
[Edited on 3-23-2009 by BajaGringo] |
That's exactly my point....simplify the process, reduce the costs, and you'll see a more efficient real estate market.
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BajaGringo
Ultra Nomad
Posts: 3922
Registered: 8-24-2006
Location: La Chorera
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Mood: Let's have a BBQ!
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| Quote: | Originally posted by Bajaboy
That's exactly my point....simplify the process, reduce the costs, and you'll see a more efficient real estate market. |
No argument from me there...
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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
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Gees, less that two years ago our bank trust cost us about $5500.00 and from what we have heard, it is not much more than that now----some may depend
on who one uses.
Our agent was quite reasonable.
Diane
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Bajajack
Banned
Posts: 370
Registered: 5-20-2007
Location: Arizona
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No matter how you look at, it's still a Rip-Off.
\"take what you can, give nothing back!\"
We have room for but one language here, and that is the English language... and we have room for but one sole loyalty and that is a loyalty to the
American people.\'
Theodore Roosevelt 1907
We can have no \"50-50\" allegiance in this country. Either a man is an American and nothing else, or he is not an American at all.
Theodore Roosevelt
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capt. mike
Elite Nomad
Posts: 8085
Registered: 11-26-2002
Location: Bat Cave
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Mood: Sling time!
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and??
| Quote: | Originally posted by jdtrotter
Gees, less that two years ago our bank trust cost us about $5500.00 and from what we have heard, it is not much more than that now----some may depend
on who one uses.
Our agent was quite reasonable.
Diane |
what are the annual maintenance fees for keeping the Fideo commiso?
i figured from friends to add about 25% to the purchase price to cover closing costs depending on price and locale?
formerly Ordained in Rev. Ewing\'s Church by Mail - busted on tax fraud.......
Now joined L. Ron Hoover\'s church of Appliantology
\"Remember there is a big difference between kneeling down and bending over....\"
www.facebook.com/michael.l.goering |
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Osprey
Ultra Nomad
Posts: 3694
Registered: 5-23-2004
Location: Baja Ca. Sur
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Yep, it's a rip off. Don't pay it. Don't fall for that stuff. Don't buy anything. Sleep on the beach if you come to Baja California. Keep moving. Some
real good realty buys in Costa Rica.
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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
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| Quote: | Originally posted by capt. mike
| Quote: | Originally posted by jdtrotter
Gees, less that two years ago our bank trust cost us about $5500.00 and from what we have heard, it is not much more than that now----some may depend
on who one uses.
Our agent was quite reasonable.
Diane |
what are the annual maintenance fees for keeping the Fideo commiso?
i figured from friends to add about 25% to the purchase price to cover closing costs depending on price and locale? |
I think so much depends on where you buy in Baja and from whom. Things here are a lot more casual in many ways.
We only had a simple purchase agreement written in English which would have never stood up in court. So much of our purchase was done on a handshake
and lots of trust. Laurieboats deal was done much the same way with the same seller.
Even getting our bank trust was done on trust---we signed over a power of attorney to our agent in La Paz and deposited money in his sister's bank
account in San Diego.
Besides the bank trust, we had no other closing costs. Our yearly fee for the bank trust is, I believe about $350.00---I will check at home
again---but it will go up.
Also, our bank trust took a little over 4 months which is fast, we think.
It is true that there are different rules down here---just the way it is.
Diane
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Diver
Ultra Nomad
Posts: 4729
Registered: 11-15-2004
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We used the same agent as Trotters and also signed a power of attorney.
We deposited money in his sister's account in San Diego and he did the rest.
It was quite a learning experience but I think he did a great job.
Of course, Shari's recommendation gave us a level of confidence before we started the process.
She was right on the money !!
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Lauriboats
Senior Nomad
Posts: 563
Registered: 9-6-2006
Location: Mulege/Bahia Asuncion
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Mood: Loving life in Baja
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Our bank trust in Bahia Asuncion is in process now, we were quoted $7,000.00 US. Should be completed next month.
What we see depends mainly on what we look for.
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msteve1014
Senior Nomad
Posts: 947
Registered: 12-2-2006
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I was also quoted $7000 a few months ago, to have the fido done in Santa Rosalia. Sounds like that is the going rate at this time.
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Pescador
Ultra Nomad
Posts: 3587
Registered: 10-17-2002
Location: Baja California Sur
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| Quote: | Originally posted by Osprey
Yep, it's a rip off. Don't pay it. Don't fall for that stuff. Don't buy anything. Sleep on the beach if you come to Baja California. Keep moving. Some
real good realty buys in Costa Rica. |
Not only that but Panama has some great buys right now and they have lots of fish and no danger from the drug cartels. Mexico should be outlawed.
Columbia is where the real tightwads should go and buy land.
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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
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| Quote: | Originally posted by Pescador
| Quote: | Originally posted by Osprey
Yep, it's a rip off. Don't pay it. Don't fall for that stuff. Don't buy anything. Sleep on the beach if you come to Baja California. Keep moving. Some
real good realty buys in Costa Rica. |
Not only that but Panama has some great buys right now and they have lots of fish and no danger from the drug cartels. Mexico should be outlawed.
Columbia is where the real tightwads should go and buy land. |
But I am sure there are laws and rules in those countries that some may not like. 
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msteve1014
Senior Nomad
Posts: 947
Registered: 12-2-2006
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Just keep pointing south,they will find a place to squat,and call home.
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vacaenbaja
Senior Nomad
Posts: 640
Registered: 4-4-2006
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What costs etc. are involved if the buyer is a mexican national?
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
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Mood: Inquisitive
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The trust on our 1312 square meter lot in San Carlos cost us 3500.00 including the first year's fees of 460.00. This included the notarios fees as
well as getting a power of attorney for our real estate agent. One notario in San Carlos wanted 200.00 just for the P of A alone. We found one in
Guaymas for 60.00, so it does pay to shop around.
This annual fee is a fixed, per year amount for the life of the trust. We'll see. It was through Banco Interracciones. We had the paperwork back from
Mexico City in about 6 weeks, if you can believe it.
Our first year's taxes ran about 75.00...........but this is on bare land. We do have municipal water, power and telephone/Slim internet to the
property and our roads are graded when they get bad (yep, dirt). Municipal sewer service is supposedly coming "soon" so our builder is recommending
having the septic system up near the road so it will be an easy connection.
All prices converted to dollars.
Construction starts the week after Semana Santa. Pretty much a glorified Tripui layout, except that we will have a 16x22 bedroom, bath, laundry bodega
complex next to the 35 foot trailer and shade structure. And a 32 x38 garage/workshop.
Workshop.........who am I kidding? It will be a man room with my radio shack, flat screen TV, fishing chit, etc. Dammit, I am putting in a urinal out
there, as well as an outdoor shower!!!
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Gaucho
Nomad
Posts: 405
Registered: 11-7-2008
Location: Laguna Beach/East Cape
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Mood: Bohemia por favor...
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| Quote: | Originally posted by vacaenbaja
What costs etc. are involved if the buyer is a mexican national? |
We have an escritura and "all in" it was about 10% of the purchase price. This included everything.
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wilderone
Ultra Nomad
Posts: 3824
Registered: 2-9-2004
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"But I am sure there are laws and rules in those countries that some may not like"
Panama wants foreigners to come and has special tax breaks for them. Lots of coastline, islands, fish. The drug industry built Panama City and does
"good" things. Different dynamic - no feuding/opposing cartel wars.
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