woody with a view
PITA Nomad
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Location: Looking at the Coronado Islands
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not that i'm in the market, but thanks.
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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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This is also the same problem you have, if you buy into a Master Fidocomiso.
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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Bronco
Nomad
Posts: 168
Registered: 12-1-2007
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I highly recommend Googling Grupo Lagza, even if your not going to buy. At least you can be informed and warn others.
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
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Some baja developments even have multiple HOA's with owners (usually americans) fighting each other. One of the reasons we decided to shy away from
them.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
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Always good to hear about these things.
Thanks
Comitan,
What is a Master Fidiocomiso? We have our invidual one, but I have not heard of a master one???
Thanks
Diane
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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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Master Fido, used for large condo & housing projects.
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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flyfishinPam
Super Nomad
Posts: 1727
Registered: 8-20-2003
Location: Loreto, BCS
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Mood: gone fishin'
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| Quote: | Originally posted by bajaeng
one of the sad things about this is that now that everybody knows about this particular problem now, the real estate companies do not disclose it and
continue trying to sell |
and this is why this place is important
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rob
Senior Nomad
Posts: 509
Registered: 10-19-2004
Location: Pacific Coast, BCS
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. .. just when you think you have heard it all . . .
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
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Americans Wake UP!
Stop buying into BEACHFRONT condo projects that never get completed. Consider buying at least 5 minutes away from the beach for 1/3 the cost or
less. You know, if you lived in Newport Beach California and just 5 minutes away from the beach, you would be living in a very prestigious expensive
exclusive area and would be considered to be tantamount to beachfront property.
There is an old European architectural concept used for centuries wherein you buy a lot, construct your house on iit, landscape the yard and enjoy
your own landscaped environment. That is what the missionaries did, that is the way the French Quarter in New Orleans is constructed, and that is the
way mansions in Beverly Hills are made.
Do you really NEED to buy into those cloistered American culture enclaves and pay the monthly HOA fee of $200 to $400 USD for life? If you have the
minimum $300,000 USD on hand and those new condo projects suit you, fine, do it. It’s Not illegal, not immoral.
But, if you are not a well-to-do American but instead you are of normal average financial means, like me for instance, then you might consider doing
things another way. Buy a lot, say 2,500 to 5,000 sq ft. Have a house built on it, say a studio at 500 sq ft or a 900 sq ft 2 bedroom house and
then landscape your yard. You can do it for $55,000 to $84,000 USD plus the closing cost of the land. You’ll own the land and with secure title (buy
title insurance). NO HOA and you are just a few minutes from the beach and downtown.
I don’t know, call me simple, but my family did it last year for $100,000. We got a 900 sq ft home built on a 9,300 sq ft lot with an 8 ft cinder
block fence all the way around the lot. We installed 5.5 tons of minisplit airconditioning, and wired the entire yard for electricity, and furnished
the house with new appliances and furniture. During the purchase process I was approached by two different people with equivalent homes at equivalent
prices to try to get us to change to them, so it wasn’t an isolated deal that we got.
What do you think of that?
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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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I think MitchMan is right. We are building a small place (1300 sq feet with the latest "adjustments") and are spending less than $60,000 on land and
construction.
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dtbushpilot
Ultra Nomad
Posts: 3296
Registered: 1-11-2007
Location: Buena Vista BCS
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Mood: Tranquilo
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To each his own....
We aren't wealthy, but not poor either. We have been coming to Baja for about 15 years. I bought a lot 12 years ago with the intent of building a
house. It wasn't beach front but close. My beautiful (and smart) wife decided that she wanted something on the beach so we started looking. We didn't
find anything that we liked right away but we did find a beach front condo about to be built. The realtor had a brochure with a picture on it but at
the time it was only a hill side. We, like everyone else interested had to put 50% down with 2 more payments along the way, the last one (25%) on
completion. It had all the makings of the story we have all heard, about the projects that never get completed and the lost money but we did our
homework. The developer had a good reputation and several large projects completed so we did it. The complex (14 units) was sold out by the time they
started pouring concrete.
The developer (DECOPE) finished the complex on time (mas o menos) and it looks just like the picture in the brochure, we couldn't be happier.
There have been and will continue to be some growing pains with a new building of this size and complexity and with the HOA issues that come up from
time to time but they really have been insignificant. Our HOA dues are considerably less than the cost of maintaining a house in our absense. This
isn't a "cloistered American enclave", 1/3 of the tenants are Mexican including the developer and his mother.
When I get here my place is ready to occupy and relax. Everything is where I left it, I don't have to fix anything, I have a secure gated parking lot
and garage, I can throw a rock in the water from my deck (at high tide).
I would rather have a house but it would have to be beach front, that's what my wife wants....so do I. I couldn't really afford a million plus dollar
house but I can afford this and it provides me with all I need at this time.
I feel sorry for those who have lost money in all of the shady deals that have gone on in Baja but there are still some developers and builders that
follow through with what they say. Do your homework, if it sounds too good to be true walk away and as always "buyer beware"........dt
"Life is tough".....It's even tougher if you're stupid.....
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
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Mood: undecided
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Pretty simple north of the border, they call 'em "liens". By law, they're required to be listed along with all the rest of the property info. such as
easments, water rights, existing problems, etc. 
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
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Mood: Luminescent Waves at Rosarito Beach
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I agree that you can buy your lot and build a nice house for not a lot of money. We bought our lot and waited until the paperwork was clear. Then we
designed the house the way we wanted it. Just cement block with wood beam ceilings. It's not what materials you use- it's how you use them. Two
years construction gave us time to shop for the best prices on fixtures, appliances and furniture- we like nice things but don't like to pay full
price for anything. Our builder did a contract- didn't miss a construction deadline (nor we a payment) and never tried to overcharge. He even knocked
on the door once and asked if anything needed fixing under his one year house warranty. Boy- those were the days!
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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rogerj1
Nomad
Posts: 265
Registered: 4-29-2004
Location: Gig Harbor, WA
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Good stuff Mitchman, you should post more often.
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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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Same here Woooosh. It's amazing the nice stuff you can find at bargain prices with a little patience and ingenuity...
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