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Turyturbo
Newbie
Posts: 8
Registered: 7-29-2009
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Buying property
I am interested to buy a beachfront property between Loreto and Cabo. I gathered the information from friends who owns the land in Baja.
Info:
1) Mexico Trust Bank rip off and gives the real estate people second comission.
2) To apply with Mexico Trust Bank, I have to buy a land first which does not make sense to me.
3) Hire a CPA, Attorney, and Certified geologist/something to check if the land is safe for me to purchase without any issues.
4) You can't "buy" within 62 miles of the shore line. (huh? why do they sell them on the website?)
5) 5-10k fee for using trust bank?!?!? are you kidding? why?
6) Losing ownership at anytime at the command of the leader of Mexico? Ack! Is there a way to prove that the US citizen won't lose their ownership at
any time in Baja?
7) Water is unpredictable in Baja. Could get cut-off any time due to its toxification level (containment) so no water coming into the house.
8) After issued with Trust bank, it lasts up to 40 years and only are inheritable but not assumable?
Please share more details so I can confirm that it is worth for me to buy a property in Baja. Thank you.
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Diver
Ultra Nomad
Posts: 4729
Registered: 11-15-2004
Member Is Offline
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Let me be the first to say, "Hello TROLL". 
Welcome to Nomads where even the administrator is a troll. 
Knock youself out; maybe you can beat ramuna53 for post count !!
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
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Isn't 1 and 5 the same thing? How does it give the sales people a second commision?
But ya, $5000+ seems like a rip.
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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I get the idea that you arn't quite ready for this. You're getting bad info and you don't seem to have that openminded quality that's required to
dive into the field of Mexico real estate.
Why don't you just rent a couple of nice condos and relax....enjoy life.
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Russ
Elite Nomad
Posts: 6742
Registered: 7-4-2004
Location: Punta Chivato
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You sound really negative here. However we're here to help you if we can. The only thing I can absolutely say to help is DO NOT use Bancomer for your
trust. Then wipe all the stuff you friends told you cuz you have some new ones here and some of us see the glass half full. You really want to start
this on a up beat cuz you'll go through some highs and lows while you deal with this new way of doing business. OK, now go to the top of any page here
and click on search. Put in Bank Trust.. Fido ... or fideiocamiso (sp error on that one I think) and read what's been said. There's a lot of stuff.
Good Luck!
[Edited on 7-30-2009 by Russ]
Bahia Concepcion where life starts...given a chance!
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Turyturbo
Newbie
Posts: 8
Registered: 7-29-2009
Member Is Offline
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| Quote: | Originally posted by Diver
Let me be the first to say, "Hello TROLL".
Welcome to Nomads where even the administrator is a troll.
Knock youself out; maybe you can beat ramuna53 for post count !!
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Okay....I do not get used with forum. My friend suggested me to use this forum to get information. This is my first information which is 'to be
Troll'. Must be valuable information. Thank you, I guess.
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rts551
Elite Nomad
Posts: 6699
Registered: 9-5-2003
Member Is Offline
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come on guys. Diver hit the troll on the head. Doesn't he sound just a little familiar?
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Turyturbo
Newbie
Posts: 8
Registered: 7-29-2009
Member Is Offline
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| Quote: | Originally posted by fishbuck
Isn't 1 and 5 the same thing? How does it give the sales people a second commision?
But ya, $5000+ seems like a rip. |
I agreed but I believe I must miss something what they tried to tell me. Maybe they tried to scare me off and prevented me from buying property in
Baja. Who knows.
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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| Quote: | Originally posted by rts551
come on guys. Diver hit the troll on the head. Doesn't he sound just a little familiar? |
I could easily agree. Need a couple of slime laced posts to make a decision.
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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
Member Is Offline
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| Quote: | Originally posted by rts551
come on guys. Diver hit the troll on the head. Doesn't he sound just a little familiar? |
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rts551
Elite Nomad
Posts: 6699
Registered: 9-5-2003
Member Is Offline
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give it time Dennis. Give it time. The poor Spanglish gives him away, He needs to stay home with the gate closed,
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Turyturbo
Newbie
Posts: 8
Registered: 7-29-2009
Member Is Offline
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| Quote: | Originally posted by DENNIS
I get the idea that you arn't quite ready for this. You're getting bad info and you don't seem to have that openminded quality that's required to
dive into the field of Mexico real estate.
Why don't you just rent a couple of nice condos and relax....enjoy life. |
I went to Baja with my family for fishing every year for 10 years before I went to college. Places we fished, stayed and toured are Loretto, East
Cape, La Paz, Cabo San Lucas and more.
Few years later, my wife and I started to visit Baja and it is our fourth year. We really love there. We both are considering into owning a property
and hang there more often annually.
Unfortunately, we are having lack of information about everything so we decided to talk to the american who owns land in Baja and they gave us some
good and some bad information. So I decided to use this forum to clear up the confusion.
Sorry if my post is wasting your time. If so, I will look somewhere else. Thanks for replying.
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toneart
Ultra Nomad
Posts: 4901
Registered: 7-23-2006
Member Is Offline
Mood: Skeptical
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Turyturbo,
Welcome! You will probably get some typical Newby's responses because you have so much to learn. Your questions will take a lot of thought and there
will be many opinions. Also, there are lots of strings on the BajaNomad that already cover a lot of your questions. This is a good source for
information. There are a lot of experienced Baja homeowners here. There are also a lot of crusty old cynics who think they know it all. Their
attitudes will tip you off.
Here is my advice: Try to search for these topics here that have already been covered. Many of your questions contain assumptions and misinformation.
While here on this forum, lurk and learn. There is are a couple of strings on this subject that are running currently. Jump into them and read. Then
you will be better equipped to ask specific questions.
The best thing to do is to go to the area you are interested in. Rent for a year. Do a lot of legwork and homework while you are there. Talk to
homeowners who are already there.
Your #1 question is not true according to my experience. I have never read this to be anyone else's experience either. Having said that, there are so
many schemes and pitfalls that are waiting to part you with your money, that there could be unscrupulous R.E. agents waiting to rip you off. In
today's economic environment, that could be said for just about anywhere; U.S. included.
Buying securely in Baja is not easy. If you rent for a year you will be better equipped to know if you have the temperament to cope. Do you know the
Mexican culture or do you speak any Spanish? Many many people have made the plunge and regretted it later. It has ruined lives and marriages. Also,
things change politically. There are no real guarantees. Today's guarantees could be skewered tomorrow.
There are also many many people who have made the choice, cleared all the hurdles (well, you are never totally clear), and they love it. It takes a
special kind of person to make the risks and frustrations worth it.
Some choose to put a trailer on their land. Some build modest palapas. If you want to buy a house, buy one that is already built. There are great
deals out there. If you get that far into it, ask here for legal references.
Good luck! Don't give up if this is your dream. But be prepared to have it occupy all your time and attention.
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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| Quote: | Originally posted by Turyturbo
Sorry if my post is wasting your time. If so, I will look somewhere else. Thanks for replying. |
Nah...I'm retired. Plenty of time.
Here's some info for you:
http://www.mexonline.com/propmex.htm
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Turyturbo
Newbie
Posts: 8
Registered: 7-29-2009
Member Is Offline
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| Quote: | Originally posted by Russ
You sound really negative here. However we're here to help you if we can. The only thing I can absolutely say to help is DO NOT use Bancomer for your
trust. Then wipe all the stuff you friends told you cuz you have some new ones here and some of us see the glass half full. You really want to start
this on a up beat cuz you'll go through some highs and lows while you deal with this new way of doing business. OK, now go to the top of any page here
and click on search. Put in Bank Trust.. Fido ... or fideiocamiso (sp error on that one I think) and read what's been said. There's a lot of stuff.
Good Luck!
[Edited on 7-30-2009 by Russ] |
Thanks Russ. I used wrong keyword in the search box and kept getting wrong result. I guess I will get more information about Stewart Title, Bank
Trust and fideiocamiso. Appreciate that, Russ
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toneart
Ultra Nomad
Posts: 4901
Registered: 7-23-2006
Member Is Offline
Mood: Skeptical
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My "Troll" alarm has not gone off yet. Our frequent troll usually starts right off with insults and I am his chief target.
English may not be this guy's first language. His writing patterns are entirely different than the troll we have all gotten to know. I could be wrong
but I like to give the benefit of the doubt unless or until the slime starts spewing.
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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| Quote: | Originally posted by toneart
English may not be this guy's first language. |
I think it is. It's becoming more coherent as we enter the bonding process.
No troll here.
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Turyturbo
Newbie
Posts: 8
Registered: 7-29-2009
Member Is Offline
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| Quote: | Originally posted by toneart
Turyturbo,
Welcome! You will probably get some typical Newby's responses because you have so much to learn. Your questions will take a lot of thought and there
will be many opinions. Also, there are lots of strings on the BajaNomad that already cover a lot of your questions. This is a good source for
information. There are a lot of experienced Baja homeowners here. There are also a lot of crusty old cynics who think they know it all. Their
attitudes will tip you off.
Here is my advice: Try to search for these topics here that have already been covered. Many of your questions contain assumptions and misinformation.
While here on this forum, lurk and learn. There is are a couple of strings on this subject that are running currently. Jump into them and read. Then
you will be better equipped to ask specific questions.
The best thing to do is to go to the area you are interested in. Rent for a year. Do a lot of legwork and homework while you are there. Talk to
homeowners who are already there.
Your #1 question is not true according to my experience. I have never read this to be anyone else's experience either. Having said that, there are so
many schemes and pitfalls that are waiting to part you with your money, that there could be unscrupulous R.E. agents waiting to rip you off. In
today's economic environment, that could be said for just about anywhere; U.S. included.
Buying securely in Baja is not easy. If you rent for a year you will be better equipped to know if you have the temperament to cope. Do you know the
Mexican culture or do you speak any Spanish? Many many people have made the plunge and regretted it later. It has ruined lives and marriages. Also,
things change politically. There are no real guarantees. Today's guarantees could be skewered tomorrow.
There are also many many people who have made the choice, cleared all the hurdles (well, you are never totally clear), and they love it. It takes a
special kind of person to make the risks and frustrations worth it.
Some choose to put a trailer on their land. Some build modest palapas. If you want to buy a house, buy one that is already built. There are great
deals out there. If you get that far into it, ask here for legal references.
Good luck! Don't give up if this is your dream. But be prepared to have it occupy all your time and attention. |
Toneart - Thank you for the greetings. Yes, my mother's side speaks Spanish. I am half-spanish but, unfortunately, I do not speak Spanish because I
am deaf. However, I know Mexican Sign Language. My wife can speak Spanish but not fluent like my family. Yes, I agreed with you about digging more
information from people but I kept searching with wrong words or asking wrong questions. My first post led me to right step to start with. 
Thank you and I won't give up my dream. Fishing, diving, sailing, kayaking are my hobbies. I grew up in desert so Baja is not an issue for me.
Mexican food are our favorite food. Look forward to be educated through this forum.
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Turyturbo
Newbie
Posts: 8
Registered: 7-29-2009
Member Is Offline
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| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by Turyturbo
Sorry if my post is wasting your time. If so, I will look somewhere else. Thanks for replying. |
Nah...I'm retired. Plenty of time.
Here's some info for you:
http://www.mexonline.com/propmex.htm |
Thanks for the link. I am reading it right now......interesting about how the contract is processing/working..... Lucky you. I wish I could retire
now. I am only 31 years old. I have to sit my butt developing some software daily or traveling around to listen/read the documentation about
architecture, design, and implementation. By the way, I am looking forward to go to San Quintin in three weeks with my family.
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Turyturbo
Newbie
Posts: 8
Registered: 7-29-2009
Member Is Offline
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| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by toneart
English may not be this guy's first language. |
I think it is. It's becoming more coherent as we enter the bonding process.
No troll here. |
 
hehe, you guys are right about my language. English language is not my first language. Sign language (ASL) is my first language, spanish language is
my second language then finally, English is my third. Unfortunately, once I adapted English language, I forgot most spanish language because I do not
speak that well.
I guess you may call me a deaf troll. 
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