1Bajalover
Nomad
Posts: 196
Registered: 1-30-2011
Member Is Offline
Mood: UP
|
|
Purchasing property in the Baja
I am researching the process for buying a small lot in Baja Sur that has been offered to me - I understand a bank account is set up to process money
through but am not sure of any of the other details
Any information much appreciated
Thanks!
|
|
|
BajaUtah
Nomad
Posts: 190
Registered: 10-4-2013
Location: Salt Lake City/La Ribera
Member Is Offline
|
|
Sooo many questions will come but I'll start with what I think is the most important.
Does the seller own the property and have the right to sell it.
After that, how are you going to own it? Fidecomiso, Corporation, etc.
When I bought mine it turned out the person I bought it from had no title/rights to the land because they had never created a fidecomiso. It turns out
I bought the "contract" under which they bought the land from the developer. It all worked out in the end in that I now have a fidecomiso in my name
and legal status in Mexico (residente temporal) but it could have gone pear shaped pretty quickly.
Andy
|
|
|
MMc
Super Nomad
Posts: 1679
Registered: 6-29-2011
Member Is Offline
Mood: Current
|
|
First rule of investing in Mexico. Never invest more than you can walk away from.
Go to a good lawyer in the area and have him walk you through it.
"Never teach a pig to sing it frustrates you and annoys the pig" - W.C.Fields
|
|
|
chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
|
|
Second rule..Never buy any property in Mexico
|
|
|
JZ
Select Nomad
Posts: 10590
Registered: 10-3-2003
Member Is Online
|
|
You are negative about everything. Trying to make everyone as miserable as you are.
I made $600K profit in 3.5 years on building and selling a property in Sonora. You are too busy crying about everything to notice the opportunities.
[Edited on 4-20-2017 by JZ]
|
|
|
chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
|
|
woopee...I spill more than that farming..
|
|
|
Lee
Ultra Nomad
Posts: 3508
Registered: 10-2-2006
Location: High in the Colorado Rockies
Member Is Offline
|
|
I'll second not buying in BCS at the moment. Personally, I'd wait and see how much president pu$$ygrabber screws things up between Mexico and the
US.
So far nothing has changed and people with money seem to be buying and building in Todos/Pesky. Crime or no crime.
US Marines: providing enemies of America an opportunity to die for their country since 1775.
What I say before any important decision.
F*ck it.
|
|
|
BajaBlanca
Select Nomad
Posts: 13197
Registered: 10-28-2008
Location: La Bocana, BCS
Member Is Offline
|
|
There are a couple companies in La Paz that speak English and can walk you thru the process. I don't know them since I speak Spanish and was able to
do our paperwork with a notario. Surely someone here can give some options.
If you do a fidecomiso (where the bank holds your title) be sure to read it carefully as so many folks have realized afterwards that the name was
incorrect or that some of the heirs were left out!
|
|
|
BajaNomad
|
Thread Moved
4-20-2017 at 08:53 PM |
JZ
Select Nomad
Posts: 10590
Registered: 10-3-2003
Member Is Online
|
|
You are an unhappy old man trying to bring everyone else down to your misery.
Pic from a month back around the time when you were crying and b-tchin' and being negative on here day after day.
|
|
|
chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
|
|
Thank you for your input JZ!
|
|
|
chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
|
|
Para gives good council, sorta. Do the due diligence and make your own decision....Above all remember the 1st rule...and comparing land investment to
necessities like boats, trucks and beautiful women is foolish.....some things you cant live without, eh? I threw the "eh" in for motoged...
|
|
|
Bob and Susan
Elite Nomad
Posts: 8813
Registered: 8-20-2003
Location: Mulege BCS on the BAY
Member Is Offline
Mood: Full Time Residents
|
|
I think you should post your "tax returns" : )
as for paranewbi....you haven't shopped recently
new trucks that can pull stuff are 60k to 80k
its getting expensive out there
|
|
|
chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
|
|
Geezo, I got enough people lookin at em....My Daughter just bought a Chevy Duramax 66,600 after haggles...I think as I have said, the OP should do as
his will dictates...Those of us who have spent so much of our lives in Baja, have our own opinions...
|
|
|
charliemanson
Nomad
Posts: 216
Registered: 5-11-2016
Member Is Offline
|
|
If it flys,floats or fu**s..rent it. Land does none of them. there is only so much beachfront property on the planet and it will always increase in
value as the people who wished they bought beachfront will eventually.
Whatever you do just go to a respected notario and bypass the lawyer as the notario IS the official.
Just look at property on the beach in Florida or Cali! We are the equivalent of Florida on the west coast.
Selling parts of my beachfront property has paid for many boats and b-tchen trucks to pull them with. Plus it's way better than living in the
US...just saying' ... chase the dream you want to live.
|
|
|
charliemanson
Nomad
Posts: 216
Registered: 5-11-2016
Member Is Offline
|
|
And PLEASE don't refer Baja as "The Baja".. It makes you sound uneducated or Canadian....Mismo?
|
|
|
Alm
Ultra Nomad
Posts: 2729
Registered: 5-10-2011
Member Is Offline
|
|
...and so are the missing details.
Bajautah has summed it up pretty much. Those are blanks to be filled, for information provided by Nomads here to be any useful.
Or, like somebody suggested in your other thread about 2 years ago - If you are serious this time, talk to your realtor.
|
|
|
1Bajalover
Nomad
Posts: 196
Registered: 1-30-2011
Member Is Offline
Mood: UP
|
|
got lots of info
go through a fidacamiso
thanks everyone
|
|
|
![[*]](images/xmbforum/default_icon.gif){kind=icon}
