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DianaT
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Posts: 10020
Registered: 12-17-2004
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I do think the walk away rule is the ONLY way to go for ejido land or leased land. Too many cases of huge rent raises and property disputes.
We felt relatively safe with the bank trust, but we did own a part of our property through a Preste Nombre which is never a safe thing even though we
used one of the most trustworthy people in Asuncion. For us, it all worked out well.
I feel really badly for the people who have lost out and there will be more. It is really unfortunate that these land disputes often take years and
years. I know owners who have pretty well forgotten that there is a dispute until the axe falls. 
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DENNIS
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| Quote: | Originally posted by DianaT
We felt relatively safe with the bank trust, but we did own a part of our property through a Presta Nombre which is never a safe thing.........
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Illegal, actually, but if the deal got jambed up, the only loser would be the foreigner.......of course.
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It is really unfortunate that these land disputes often take years and years. I know owners who have pretty well forgotten that there is a dispute
until the axe falls.
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Mexicans have Oriental patience. They have been taught well how to wait.
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J.P.
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Location: Punta Banda
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| Quote: | | Quote: |
It is really unfortunate that these land disputes often take years and years. I know owners who have pretty well forgotten that there is a dispute
until the axe falls.
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Mexicans have Oriental patience. They have been taught well how to wait. |
It' not like we didn't know the possibility of it happening I can stand on my front deck and see the spit . hopefully in my lifetime it may never
reach the part of the property we live on if and when it does for me I think the length of time and the beautiful location I live in the experience
has already been worth what I spent here.
For others maybe not.
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absinvestor
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Chuckie- I agree- my main point regardless of due deligence etc etc I won't buy anything in Mexico that I can not afford to walk away from. I also
know of Americans that have spent thousands of dollars and hundreds of hours fighting for what they considered to be their rights (in Mexico.) I'm
sure there must be a couple but I personally don't know of any that were happy with the result.
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chuckie
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That has always been the rule BUT BUT, it is not just about the money.Its about being uprooted, having your life interupted, sometimes with no place
to go...AND altho most people talk the talk, they dont walk the walk..They end up with way more invested than they can just leave. And are then forced
to fight to keep it, almost always a losing battle here. Renting shares some of the same risks, but , in your head you KNOW its not yours. Crap
shoot....
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Osprey
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Location: Baja Ca. Sur
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Clarifying “Walk-Away” in Baja
Almost any realty post on the forum will have the admonishment “I wouldn’t buy anything in Mexico that I could not afford to walk away from.”
Rather than offer suggestions against that view it might be time to open it up and look inside. It is overbroad and so general as to be very strange
advice. Allow me to state the situation in other words to explain my position.
How about :
1. “I wouldn’t pay cash for a $250,000 dollar house in Mexico unless I had plenty of money and could easily get along without that money so the risk
of losing it doesn’t bother me.”
2. “I wouldn’t pay cash for a $250,000 dollar piece of land, business, yacht or airplane in Mexico unless I had plenty of money and could easily get
along without that money and/or the property/equity so the risk of losing it doesn’t bother me.”
3. “I would never marry a woman in Mexico unless I knew that if I felt like it, I could just leave her.”
4. “I would never buy food in Mexico unless I had enough money to buy more if it spoiled and not miss the money I originally spent.”
5. “I would never bet any amount on anything in Mexico unless it was a sure thing.”
I have a lot more but you get the picture. Maybe some of you don’t get the picture. Let me know and I’ll do another clarification for your deep, deep
feelings about investing in retirement and/or vacation opportunities in Italy, France, Turks and Caicos, Zimbabwe, Barstow, wherever.
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chuckie
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Barstow? OK....
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vandenberg
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| Quote: | Originally posted by chuckie
Barstow? OK.... |
Of course, the prime retirement spot, halfway between Tinseltown and Lost Wages. What could possibly be better?
And nice and warm too.
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DianaT
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| Quote: | Originally posted by absinvestor
Chuckie- I agree- my main point regardless of due deligence etc etc I won't buy anything in Mexico that I can not afford to walk away from. I also
know of Americans that have spent thousands of dollars and hundreds of hours fighting for what they considered to be their rights (in Mexico.) I'm
sure there must be a couple but I personally don't know of any that were happy with the result. |
Walk-away is definitely a subjective concept with a different very personal meaning for everyone and includes many intangible emotions.
[Edited on 6-30-2013 by DianaT]
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absinvestor
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Osprey clarified exactly my feelings on "walk away." For me the amount is way under $250000 (more like $15000-$20000.) And Chuckie is correct on it's
not just about the money. Many years ago a friend was kicked out of Santispac-He had to figure out where he could go and how he could "move" a fully
assembled and furnished "palapa." Some walked away and some found another location. (Neither choice easy to make.) A beach community south of Mulege(
fairly recently) had their "lease payments" increased from around $2500 per year to over $5000 per year. Many have built beautiful homes that can't be
moved. Most will "eat" the increase since it is the least of two evils. The fact that most had a contract with many years left at the $2500/yr lease
didn't help when the landlord said "tough" pay the increase or move out.
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DianaT
Select Nomad
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| Quote: | Originally posted by absinvestor
Osprey clarified exactly my feelings on "walk away." For me the amount is way under $250000 (more like $15000-$20000.) And Chuckie is correct on it's
not just about the money. Many years ago a friend was kicked out of Santispac-He had to figure out where he could go and how he could "move" a fully
assembled and furnished "palapa." Some walked away and some found another location. (Neither choice easy to make.) A beach community south of Mulege(
fairly recently) had their "lease payments" increased from around $2500 per year to over $5000 per year. Many have built beautiful homes that can't be
moved. Most will "eat" the increase since it is the least of two evils. The fact that most had a contract with many years left at the $2500/yr lease
didn't help when the landlord said "tough" pay the increase or move out. |
There are many great reasons for Americans to "buy" or lease property in Baja even with all the risks, if they are aware of all the risks.
One mistake we have seen over and over is that the American thinks that any real estate deal is just like it is north of the border.
And one sure cannot depend on some who call themselves realtors as some of them know very little and/or practice the concept of disclosure with lies
of omission.
[Edited on 6-30-2013 by DianaT]
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monoloco
Elite Nomad
Posts: 6667
Registered: 7-13-2009
Location: Pescadero BCS
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| Quote: | Originally posted by absinvestor
Osprey clarified exactly my feelings on "walk away." For me the amount is way under $250000 (more like $15000-$20000.) And Chuckie is correct on it's
not just about the money. Many years ago a friend was kicked out of Santispac-He had to figure out where he could go and how he could "move" a fully
assembled and furnished "palapa." Some walked away and some found another location. (Neither choice easy to make.) A beach community south of Mulege(
fairly recently) had their "lease payments" increased from around $2500 per year to over $5000 per year. Many have built beautiful homes that can't be
moved. Most will "eat" the increase since it is the least of two evils. The fact that most had a contract with many years left at the $2500/yr lease
didn't help when the landlord said "tough" pay the increase or move out. |
It is incredibly short sighted to
invest in expensive improvements on a chunk of leased property in a country where the maximum legal term for a lease is ten years. A person has to be
in denial to not realize what will transpire when their ten years are up.
"The future ain't what it used to be"
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BajaBlanca
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Posts: 13198
Registered: 10-28-2008
Location: La Bocana, BCS
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Such a shame that this indeed happens over and over and over.
The good thing about our area (La Bocana), is that the titled land is easy to research and clear because everyone is still alive who possibly owned
the land originally.
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J.P.
Super Nomad
Posts: 1673
Registered: 7-8-2010
Location: Punta Banda
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Mood: Easy Does It
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| Quote: | Originally posted by BajaBlanca
Such a shame that this indeed happens over and over and over.
The good thing about our area (La Bocana), is that the titled land is easy to research and clear because everyone is still alive who possibly owned
the land originally. |
In our case I know several people that have been here 20+ years and although there is a rental increase in the contract it has rarely ever
happened, I am on my 2nd contract and the rate is the same. most of the residents have watched the family grow up and regard them as family. This is
as bad of a thing or worse for the family as it is the residents.
In a lot of cases People regard the owners of these property's as rich people but reality they are liken to the dry land wheat farmer. Land Rich and
Dollar Poor
[Edited on 6-30-2013 by J.P.]
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Paulina
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To J.P. and others involved, I'm sorry to hear of this happening. The thought of "having to walk away" is always in the back of my mind. Something we
don't want to have to think about, and hope it never happens to us or our neighbors.
Regarding the walking part, I think I would be running. I would be trying to gain as much distance as I could before the propane tanks blew, if you
get the picture...
Best regards,
P>*)))>{
\"Well behaved women rarely make history.\" Laurel Thatcher Ulrich
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deportes
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Very sorry for those impacted and thankful to the BN forum for the information. I am a couple of years away from retiring and could have fallen into
the property ownership trap. Now I will definitely rent first and decide later.
Thanks.
Juan.
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SFandH
Elite Nomad
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I'm following this thread closely because I'm dreaming about a house in BCS someday soon. Has anybody heard of somebody getting into a real estate
dispute of some type when the real estate in question is bought via a fideicomiso with of course the approval of the bank and the local notario?
If so, I'd like to know the details.
[Edited on 6-30-2013 by SFandH]
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Osprey
Ultra Nomad
Posts: 3694
Registered: 5-23-2004
Location: Baja Ca. Sur
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Now permit me to rectify my clarification. Now the deep feeling might be better stated by the fearful "I wouldn't buy, RENT OR LEASE anything in
Mexico that I could not afford to walk away from". At your leisure you may edit my clarification yourself simply by thinking about paying $250,000
cash OR PAYING CASH OUT AT VARIOUS INCREMENTS STILL HAVING DOLLARS YOU PAID AT RISK OF LOSS AT SOME TIME IN THE FUTURE. I'm prepared to start all over
if you'll just describe all the other many ways you can lose it all in Mexico.
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Lindalou
Senior Nomad
Posts: 623
Registered: 1-12-2004
Location: Punta Banda Baja
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| Quote: | Originally posted by absinvestor
Osprey clarified exactly my feelings on "walk away." For me the amount is way under $250000 (more like $15000-$20000.) And Chuckie is correct on it's
not just about the money. Many years ago a friend was kicked out of Santispac-He had to figure out where he could go and how he could "move" a fully
assembled and furnished "palapa." Some walked away and some found another location. (Neither choice easy to make.) A beach community south of Mulege(
fairly recently) had their "lease payments" increased from around $2500 per year to over $5000 per year. Many have built beautiful homes that can't be
moved. Most will "eat" the increase since it is the least of two evils. The fact that most had a contract with many years left at the $2500/yr lease
didn't help when the landlord said "tough" pay the increase or move out. |
We were one of the lucky people
that lost their palapa at santispac. Actually we were lucky because inside of the palapa was a fairly nice travel trailer, extra fridgs, stove
generators solar panels and such that we were able to sell and got most of our money back. We hadn't lived there long enough to fix it up the way we
wanted so we weren't in a lot of money like some were. Most of them relocated to coyote Bay.
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woody with a view
PITA Nomad
Posts: 15939
Registered: 11-8-2004
Location: Looking at the Coronado Islands
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Mood: Everchangin'
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| Quote: | Originally posted by Paulina
To J.P. and others involved, I'm sorry to hear of this happening. The thought of "having to walk away" is always in the back of my mind. Something we
don't want to have to think about, and hope it never happens to us or our neighbors.
Regarding the walking part, I think I would be running. I would be trying to gain as much distance as I could before the propane tanks blew, if you
get the picture...
Best regards,
P>*)))>{ |
i like that girl!
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