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Paula
Super Nomad
Posts: 2219
Registered: 1-5-2006
Location: Loreto
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| Quote: | Originally posted by norte
Oh I am sorry. when posting on a public forum in this fasion, who are you adressing?\\\
| Quote: | Originally posted by Paula
| Quote: | Originally posted by norte
Paula. Geeze not everyone wants to spend 7-8 thousand dollars to make everything OK. Are you advising people who buy in Baja to hold back. let's say
20% to buy their way out later? kinda like closing costs. Is this just a Northern (gringo) tax? or does eceryone pay it?
| Quote: | Originally posted by Paula
BajaNuts, Oladulce and Longlegs have good advice for you. Hang in there, and don't worry about the people who make non-specific negative comments on
your thread.
Our deal in Loreto was going to be easy and quick, but when we went-- buyers, sellers, and agent/building contractor-- to notario #8 in La Paz his
secretary realized immediately that the name on the title was not that of the sellers. Neither Claudia nor Maria could pass for Hector, their father
who had passed away a year or so before. Money had changed hands (NOT all of
it!!) and we were unable to stay in Loreto to monitor things. A year went by with no progress while the title was being transfered to the sisters.
Everyone involved told us when we would call to be patient, it would be fine. After about a year we brought in a new person (see Oladulce's 3rd
paragraph from the bottom of her last post) at our agent/contractors suggestion. He cost an extra 7 or 8 hundred dollars, and after he stepped in
things moved quickly, Don flew down to sign the book, and all was well.
While bad things can happen here, most people are honest and mean no harm. Those mysterious things that take so long, and the lack of information are
usually just "cultural differences". Why would the notario spend time on a meeting when there is nothing new to report? So come down when you can, try to move things along, and it is very likely
that everything will be fine-- on Mexican time. |
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Norte, I spent a lot of time writing what I hope is a helpful and honest post. The info contained therein has nothing to do with you, but I would
hope before commenting and slamming me you would read carefully.
That was 7 HUNDRED dollars, not thousand. And yes, it was worth it. The guy we paid was the guy who made 4 or 5 round trips to talk with the bank
and the notario to move things along. Not a tax, not a bribe, but payment for work done.
And I'm not offering advice to anyone here but BajaNuts. And really, it is not advice, as they have already bought. Just encouragement on a
difficult situation. |
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People who don't have their heads....
I'm sure you'll be able to fill in the rest.
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longlegsinlapaz
Super Nomad
Posts: 1685
Registered: 11-18-2005
Location: La Paz
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Paula, I understood your post! And BajaNuts will too!
Norte, if you personally had committed time & (I'm picking a hypothetical number out if the
air)....lets say $25K USD equivalent, would you add another $1K to the pot to salvage your original investment? Or would you just call it a
loss & walk away from the time & $$ you'd put into the deal at the time a problem became apparent?
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BigWooo
Senior Nomad
Posts: 579
Registered: 1-2-2007
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| Quote: | Originally posted by norte
Paula. Geeze not everyone wants to spend 7-8 thousand dollars to make everything OK. Are you advising people who buy in Baja to hold back. let's say
20% to buy their way out later? kinda like closing costs. Is this just a Northern (gringo) tax? or does eceryone pay it? |
Buying real estate in Mexico can be simple if you want to buy a small lot in an established community. But even the simple purchases can have
complications, and one needs to have the resources to deal with it. If you are buying with no reserve cash for the unexpected, I would suggest
waiting until you do.
Buying remote properties from Ejidos, especially those that are selling their land for the first time, can present added difficulty. Often, neither
the Ejido members, nor the buyer have experience in how to obtain the proper documents to sell the land, and frequently neither do the real estate
agents. There’s no book with step-by-step instructions on how to deal with every aspect of the purchase. The process is difficult, frustrating and
expensive. In newly privatized land there’s nearly always some problem to deal with, especially if you’re one of the first buyers. When purchasing
Ejido land I would strongly recommend a good attorney and consulting with a title insurance company before proceeding.
I believe you should anticipate spending an extra $7-$8,000.00. If everything goes well then you will have money in the bank, and a good start on
paying for all the additional federal permits and studies you need to get before building anything .
These types of real estate purchases are not for the weak hearted. You have to be persistent, patient and be prepared to spend a lot of extra cash,
but even after developing an ulcer, nervous twitch, sleep disorder, and grey hair, I think it was well worth it.
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norte
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Registered: 10-8-2008
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Paula... don't get so bunched up... the last two posts said it all
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longlegsinlapaz
Super Nomad
Posts: 1685
Registered: 11-18-2005
Location: La Paz
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Well said BigWooo!
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Paula
Super Nomad
Posts: 2219
Registered: 1-5-2006
Location: Loreto
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Ditto, Big Wooo!
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elizabeth
Senior Nomad
Posts: 742
Registered: 7-30-2004
Location: Loreto, BCS
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BajaNuts
You have been given some good positive advice. Ignore the naysayers! I now have a fideicomiso on a piece of land in Loreto, formerly ejido, over
2000 square meters. It can be done. It took about 3 years, and would probably have taken longer if I didn't have a seller who stayed on top of all
of the requirements. Yes, it was frustrating, but there are a lot of steps to privatize the sale of ejido land. BTW, the notario was Miguel Angel
Izquierdo.
Hang in there...but keep up contact...given that you aren't there, you might think of hiring a lawyer familiar with ejido transfers.
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Osprey
Ultra Nomad
Posts: 3694
Registered: 5-23-2004
Location: Baja Ca. Sur
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If you follow Woos excellent suggestions also insist on a sample copy of the title policy in English, then ask the Title Co. rep. about the policy's
restrictions and exclusions. Mexican title contracts are not your father's title policies.
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CaboMagic
Super Nomad
Posts: 1109
Registered: 4-30-2005
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Please add our words of encouragement to your support. Hope this works out swiftly for you. Keep focused on your dream .. they can and do come true.
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BajaNuts
Super Nomad
Posts: 1085
Registered: 5-11-2008
Location: eastern WA, the DRY side
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Mood: no worry, no hurry....it's all good!
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Thanks, Paula, LongLegs, BMG, BigWooo, and Oladulche.
Great advice and thanks for the support.
We have hired a lady named Alba Walker who is with a company called The Paper Chase. She is the one who has dug up as much info as we have right now.
In her recent email she said "Procuraduria agraria has locally started the paperwork to grant titles to land to all the ejido members, once this is
done, paperwork will be sent to Mexico city for final approval." Supposedly, they expect the paperwork back by August.
I'm thinking we should have Alba meet with Notario Izquierdo, maybe do a phone conference while she is there and get someone else working on it.
Still have to get the fido figured out... everyone keeps saying you can't do a fido without title, can't get a title without a fido, can't do fido on
>2000m, can't do a corporation without an address and utility bills, can't get an address without a corporation....
Anyway thanks for the input. It gives us some options to work with. Oh and did I mention that the person the seller willed their estate to is a
minor?
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elizabeth
Senior Nomad
Posts: 742
Registered: 7-30-2004
Location: Loreto, BCS
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| Quote: | Originally posted by BajaNuts
Still have to get the fido figured out... everyone keeps saying you can't do a fido without title, can't get a title without a fido, can't do fido on
>2000m, can't do a corporation without an address and utility bills, can't get an address without a corporation....
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Take a deep breath...get a prescription for ativan if necessary (just joking)...but, you have hired someone who is obviously staying on top of
things...so stop listening to "everyone says". Get your information from her, and your advice from those who have gone down that path. The
privatization of ejido property is a relatively new thing and not everyone is very familiar with the process.
You will have moments of near insanity and doubt along the way...like when you hear that a document requires the ejido secretary's signature, but
hasn't been done because he/she is in Timbuktu visiting relatives and no one knows when he/she will be returning! Deep breath or ativan time!
Don't worry about the fideicomiso at this point...you are a ways away from it. As I said in my first post...it took 3 years for me with a seller who
was on top of it. I know of other people who have been in the process even longer, and are still hanging in there. My property is over 2000 square
meters...4 separate parcels merged into one...one fideicomiso. With a large parcel you will be required to complete a specific amount of development
within a defined time period depending upon the size of the property. Bottom line is you can get a fideicomiso with property over 2000 square meters.
You are going to need a lot of patience...good practice for actually living in Baja! Hang in there and don't worry about anything until it's time to
worry!
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BajaNuts
Super Nomad
Posts: 1085
Registered: 5-11-2008
Location: eastern WA, the DRY side
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Mood: no worry, no hurry....it's all good!
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thanks elizabeth-
We only recently got Alba involved, and she is the one who found out all this information. I think that with her help and the other 2 referals we
have for La Paz, we will get some progress.
A~
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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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why not get title insurance? it is becoming very prominent in Mexican RE transactions.
personally i wouldn't buy anything i couldn't get a title policy on.
see who has oversight on Notarios and start the process. it will be long and expensive but what else can you do?
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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gnukid
Ultra Nomad
Posts: 4411
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Just a clarification it appears the Notario didn't screw up here. A notario can only process a completed deal and make a scritoro. This deal is
typical of ejido titling and requires leg work from someone with ejido experience. So it appears no one screwed up, it just is an example of
circumstances to be understood and pursued.
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BajaNuts
Super Nomad
Posts: 1085
Registered: 5-11-2008
Location: eastern WA, the DRY side
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Mood: no worry, no hurry....it's all good!
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yes gnukid, it is appearing that way.
The impression is that notario/a's are "gods" and their blessing of a transaction is all powerful.
When the transaction was done and I was sitting in the Notario's office, everyone smiled and shook hands and said "congratulations on your new
property", just finish your corporation (totaly other story, but that was the plan) and you're done.
So that's why we are surprised to learn the seller did not have actual title in hand. Hence the question of what happens if the notario makes a
mistake. I definetely wish I had known about BajaNomads back then...............
[Edited on 5-27-2009 by BajaNuts]
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foonman
Newbie
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Registered: 6-13-2009
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I am currently getting a fideicomiso on a property over 2000 Sq Meters.
You have to pledge to spend $250,000 on improvements to get the fideicomiso.
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BajaNuts
Super Nomad
Posts: 1085
Registered: 5-11-2008
Location: eastern WA, the DRY side
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Mood: no worry, no hurry....it's all good!
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I'm sure this is online somewhere, but is that $250,000 pesos or US$?
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comitan
Ultra Nomad
Posts: 4177
Registered: 3-27-2004
Location: La Paz
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Mood: mellow
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I can answer that its the investment clause in the Fido over 2000 sq.mts and its $250,000 US dollars and the property has to be upgraded within a
certain time.
Strive For The Ideal, But Deal With What\'s Real.
Every day is a new day, better than the day before.(from some song)
Lord, Keep your arm around my shoulder and your hand over my mouth.
“The sincere pursuit of truth requires you to entertain the possibility that everything you believe to be true may in fact be false”
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roamingthroughbaja
Nomad
Posts: 143
Registered: 11-16-2007
Location: La Paz, BCS
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Be careful of putting title in the name of a corporation if it is not actually going to be a business or make any $$ We just finished the process
of getting our FM2's, and while we were in the Immigration office chatting with the guys, they told us that they were now reviewing all of the
corporations where no income had been declared or taxes paid in the previous tax years. These corporations would be investigated and closed down if
they couldn't show that they were contributing to the economy by providing jobs, paying taxes, etc.
This will mean that folks will have to get fidei's for their property.
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BajaNuts
Super Nomad
Posts: 1085
Registered: 5-11-2008
Location: eastern WA, the DRY side
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Mood: no worry, no hurry....it's all good!
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thanks for the heads up 'roaming,
another catch22, so what's a person to do with a large lot?
You have to have a corporation for more than 2000m or spend $250k and now the corporation option is going away, are they gonna start checking on
improvements?
I suppose you could claim $100 income a year and pay taxes on that to keep your name off the "hot list". Or divide up your lot into smaller parcels
and then get fidei's for all of them. more $ more $ more$
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