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 Moderated by: bartmanaz Page:  First Page Previous Page  1  2   
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Buying a House in Mexico  Rate Topic 
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 Posted: Sun Jan 13th, 2019 07:39 pm
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Bullshipper
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nice guy wrote: I've lived in SC for 13 years, 1st 2 yrs in the marina, then we built a house here. Even though we heard then, and still hear the horror stories, I am a diligent buyer and we have lived in a beautiful house for 11 years, without any issues. We have chosen to deal with reliable people with long-time reputations here, and except for an attempted skinning by a plumber, who got nothing for his shenanigans, we have nothing but good stories. I feel for the people who have been scammed by RE crooks and thieving contractors, but "trust but verify" works.

x2

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 Posted: Sun Jan 13th, 2019 07:50 pm
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lasninas
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Agree 100% with JCB.  Do not invest the majority of your retirement funds in a home in Mexico especially do not buy from a seller that you deem a cad.  Keep your money in the bank and rent.  Enjoy yourself.  Buying is not for everyone, nor everyone's budget.  

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 Posted: Mon Jan 14th, 2019 12:30 am
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Righton
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First question to ask is about the water situation. I,ve been here 22 years and this is the worse it's been. Yes I have a large tanco, but need water to fill it.

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 Posted: Mon Jan 14th, 2019 03:03 am
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nice guy
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Righton - start your own water thread. Don't hijack others.

#2 - My recollection is that any foreigner lawfully in Mexico, regardless of the type of visa/permit, is fully covered by Mexico laws, to the same extent that Mexican citizens are, so don't be bamboozled by hearsay.

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 Posted: Mon Jan 14th, 2019 12:35 pm
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JCB
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Re. The visa issue.  I was not repeating hearsay but the actual experience of a realtor and one of her clients when the client was sued by a Mexican regarding some issue about the property. 

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 Posted: Mon Jan 14th, 2019 01:34 pm
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Bullshipper
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Well it isnt true. Been there done that, several times.

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 Posted: Mon Jan 14th, 2019 04:11 pm
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Kiwi
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Thank you Billshipper about clarifying the issue of visa vs legal owner issues.  Was about to jump in when you clarified. Think the person might have had a different issue as know many indivituals in SC with visa's who have legal trust's, etc. and have had no problem.
You gotta do your "homework" around here, that's for sure.

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 Posted: Mon Jan 14th, 2019 04:49 pm
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GOIT
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I think the water and infrastructure issue is a part of purchasing property in Mexico.  For example when I purchased by my home I also purchased the adjoining lot with intentions of building on to existing home in time for retirement.  Now with the current water issues even though I am approaching retirement it is becoming more doubtful that I will be increasing my investment.  I still plan on much more time spent in San Carlos with full retirement but just do not feel it is prudent to invest more money in real estate.

Last edited on Mon Jan 14th, 2019 04:50 pm by GOIT

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 Posted: Mon Jan 14th, 2019 09:24 pm
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long time resident
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Real estate agents are required to be licensed in Sonora. The only problem, is no one enforces it. Not all agents are honest, and not all agents are ethical. BUT, there are those that are. Ask around.

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 Posted: Wed Jan 16th, 2019 02:08 am
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Bullshipper
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I had very good luck with this Notary in Guaymas. Very good at pressuring the bank managers on trust matters. Delivered when promised, reasonable, trust worthy imo.

ALFREDO ORTEGA-LOPEZ, Jr

622 222 1174

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 Posted: Wed Jan 16th, 2019 02:18 am
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nice guy
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Notarys are expensive here - it's a premium appointed job.

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 Posted: Wed Jan 16th, 2019 02:18 am
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long time resident
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I agree. He is very honest. I did many transactions using him.

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 Posted: Wed Jan 16th, 2019 01:03 pm
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Steve W.
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I would GUESS 90% of people have no problem but you said my words you would be investing money you can not afford to lose. If it was me I would rent for a year and see if it made sense to buy and where to buy, When I hear the deal will rely on a good realtor that is a red flag to me. Next when you go to sell, how hard is it going to be to sell?

Below is the type of stuff that happen in Mexico

This happen in 2010. I was there in 2009 it was a nice little village with a nice hotel. I was there again in 2011 it was all gone except the hotel and it was closed. This is what someone in Mexico with money can do.

http://tenacatitabaybugle.blogspot.com/

From the article

And even where landowners have won in court, they still are being blocked from taking possession of their property.

Here someone else talking about this.
https://www.tomzap.com/tenaca.html

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 Posted: Wed Jan 16th, 2019 05:04 pm
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RichD
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If you follow some common sense guidelines and don't try to take short cuts, it is very rare that people lose everything. Buy an existing property with a trust in good standing. If you are thinking you are going to make money you are dreaming. But it is still a great place to live. If you can afford to live by the sea in the US then that might be a better choice for investment. I don't like to rent but that might be an option for some.

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 Posted: Wed Jan 16th, 2019 06:22 pm
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Bullshipper
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Remember, he is not looking in San Carlos.

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 Posted: Wed Jan 16th, 2019 07:00 pm
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RichD
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True but most people that look at this forum for information are thinking of living in San Carlos. Buying here can still be a good value in a retirement home when everything is considered. Houses that are fairly priced are selling. People that bought at the peak of the market will lose money, just like if they bought in Phoenix at the peak. Just offering a different point of view. If the only people that bought here were those willing to lose 100% of their money this would be a ghost town.

Last edited on Wed Jan 16th, 2019 07:01 pm by RichD

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 Posted: Wed Jan 16th, 2019 07:06 pm
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yojimbo
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All-

I hate it when someone start a thread on a forum and then just drops it after many contributors have answered. This discussion has been enlightening and I want to thank everyone who provided their experience and knowledge to answer the question and those that sent PMs as well. Seems like 2 camps- those that doom the prospect of ownership and those that have succesfully navigated difficult terrain- thereby showing it can be done. The question was asked for my enlightenment as much as a practical pursuit-the property/house I am looking at is not in SC but the timeline on is driven by the owners age , health and financial concerns- a bad triad. I like to do my DD in business. People on this forum have been helpful and informed in other areas and have so again in this inquiry. Thanks to everyone again. Jim

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 Posted: Wed Jan 16th, 2019 07:31 pm
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Bullshipper
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RichD wrote: True but most people that look at this forum for information are thinking of living in San Carlos. Buying here can still be a good value in a retirement home when everything is considered. Houses that are fairly priced are selling. People that bought at the peak of the market will lose money, just like if they bought in Phoenix at the peak. Just offering a different point of view. If the only people that bought here were those willing to lose 100% of their money this would be a ghost town.x2

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