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Hazards of buying property in Mexico

by Johnny Briefcase @, Sunday, July 16, 2017, 10:01 (12 days ago)

This article by Bodie Kellogg outlines some of the potential hazards of acquiring property in the loosely regulated market in Mexico. No doubt some members of this forum have their own stories - good or bad. ....JB

http://mexiconewsdaily.com/opinion/no-pesky-regulations-means-buyer-beware/

Hazards of buying property in Mexico

by Gringo Viejo @, Arizona, Sunday, July 16, 2017, 11:07 (12 days ago) @ Johnny Briefcase

Once again it is proven, "You can't cure stupid". We from NOB have been accustomed to protection from virtually all scams by government regulation.

in 16 years I've seem a few problems my self. Like the two owners of a property from Mexico City who, at the last minute, changed the meeting place to a bar from my attorney's office. One of the owners of record was on site and wanted full payment and the other owner would "be here tomorrow" to sign the papers. Or the Condo project that wanted one third down and the balance in 90 days. The unit was "mostly" complete but no infrastructure was in (pool, restaurant, streets, etc. The project still sits like it was 6 years ago, a "ghost" property. Or the seller who said he would get the property surveyed with plat and pins; I begin to suspicion something was wrong when 2 guys showed up in a beat up pick up with no equipment but with stakes in hand wanted to know "Where do we put these?" And there are numerous sellers who will show you a piece of paper and a map and "are ready to close" the deal".

Get a reliable attorney, assume nothing, remember the protections afforded you at home by government regulations, there are virtually no regulations in Mexico, and above all, remember, "You can't cure stupid but you can hire a competent attorney".

--
Enramad Neto, best on the beach in La Barra de Potosi, good food, cold beer, great food!

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Rewards of buying property in Mexico

by Talley Ho @, Playa la Ropa/Silver Strand Beach, California, Sunday, July 16, 2017, 12:49 (12 days ago) @ Gringo Viejo

We recently closed on our home in Zihuatanejo, and we had a great experience.

However......we purchased a structure that was complete, used a great Real Estate person, and were very happy with our attorney. It's done, no unpleasant surprises, and we are thrilled.

We considered the purchase of a lot, and building on it, but decided that would be too complex.

Pre-purchases in any country, especially Mexico, are a lot like time shares. Great for some, really bad for others.

Rewards of buying property in Mexico

by Gringo Viejo @, Arizona, Sunday, July 16, 2017, 13:26 (12 days ago) @ Talley Ho

And don't get me wrong, a lot of people make real estate purchases in Mexico and never have a problem.

I think it is important to think buying in Mexico vs NOB is something walking thru a minefield vs a Sunday stroll in the park. It reminds me of the phrase, "There ain't no rules in a knife fight".

And Augustin Galindo is a great attorney.

--
Enramad Neto, best on the beach in La Barra de Potosi, good food, cold beer, great food!

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Rewards of buying property in Mexico

by Talley Ho @, Playa la Ropa/Silver Strand Beach, California, Sunday, July 16, 2017, 13:28 (12 days ago) @ Gringo Viejo

We were very happy with him.

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Rewards of buying property in Mexico

by frostbite ⌂ @, Hamilton MT, Sunday, July 16, 2017, 13:51 (12 days ago) @ Talley Ho

After seeing the lot, the first thing we did was hire attorney Agustin Galindo to represent us. The best move we made, since a problem arose with the owner of the property. There were no problems with the contractor.

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http://www.casa-amarilla-zihua.com

Hazards of buying property in Mexico

by Mexalberta @, Monday, July 17, 2017, 17:04 (10 days ago) @ Johnny Briefcase

Bodies would not be my choice of a home inspector
Cleaning corroded rebar in the infrastructure with acid to mitigate corrosion ?
Talk about putting out a fire with gasoline.