Zihuatanejo-Ixtapa Message Board - Need help with real estate deal gone bad

Need help with real estate deal gone bad (reply)

midalake — Sat, 17 Sep 2016 18:45:32 +0000

Observation: "Real Estate Agents" are not licensed in Mexico. Anyone can hold themselves out to be a "Real Estate Agent". Buyer beware.

First rule of buying property in Mexico (from a very successful Mexican). Never put any money down or any other sort of "earnest money". Money changes hands at the same time as title. Buyer beware.

We NOB folks tend to think of Notario in Mexico as a Notarty NOB. Not true, totally different functions. Buyer beware.

Did I mention "Buyer Beware"?? Get a good attorney in the very beginning before you sign anything and don't pass any money prior to closing!

No, I am not a pessimist bout owning/leasing property in Mexico but just as there is a right way and a wrong way to buy NOB there is a right way and a wrong way in Mexico.

Good Luck!

First rule of buying property in Mexico (from a very successful Mexican). Never put any money down or any other sort of "earnest money". Money changes hands at the same time as title. Buyer beware.

The information above a very poor information. I doubt you will to be able to complete any real estate transaction with out any type of deposit or earnest money. In fact my transaction completed in July I was paid 85% of the transaction before going to sign on the final day. The key is to be represented by an Attorney and a contract.....a realtor is worthless.

Need help with real estate deal gone bad (reply)

thatsit — Sat, 17 Sep 2016 17:48:43 +0000

Sounds like a good case for you.

Are you sure there is no penalty clause in the contract.

Need help with real estate deal gone bad (reply)

frostbite — Sat, 17 Sep 2016 16:11:28 +0000

Sad story. I hope it all works out. We hired Agustin Galindo before we made an offer on the lot on La Madera. Best move we made.

Need help with real estate deal gone bad (reply)

colbyco9 — Sat, 17 Sep 2016 13:04:29 +0000

The very sad part of this whole episode is that the seller is a dear friend.
She is selling her property at Villas de Golf.
I needed more space.
We signed a contract the first of March, I gave her a check for 20,000. She had a tenant at that time and I agreed to wait until the tenant was to move out. Approximately the middle of September.
She filled out the contract, there is a clause that if either party was unable to fulfill the contract by September 15th, 2016 for the fee of $1.00 the contract would be void.
In May I lost my funding for the condo and contacted her immediately. Since that time she has refused to communicate with me, and naturally never refunded my money.
I have waited and been kind and now I think it is time to take action.
That is the story.
I will be in Ixtapa Oct. 22, to see Sr, Galinda with contract and copies of the cashed check.
Thank you all for your assistance.

Need help with real estate deal gone bad (reply)

Gringo Viejo — Sat, 17 Sep 2016 12:55:41 +0000

Observation: "Real Estate Agents" are not licensed in Mexico. Anyone can hold themselves out to be a "Real Estate Agent". Buyer beware.

First rule of buying property in Mexico (from a very successful Mexican). Never put any money down or any other sort of "earnest money". Money changes hands at the same time as title. Buyer beware.

We NOB folks tend to think of Notario in Mexico as a Notarty NOB. Not true, totally different functions. Buyer beware.

Did I mention "Buyer Beware"?? Get a good attorney in the very beginning before you sign anything and don't pass any money prior to closing!

No, I am not a pessimist bout owning/leasing property in Mexico but just as there is a right way and a wrong way to buy NOB there is a right way and a wrong way in Mexico.

Good Luck!

Need help with real estate deal gone bad (reply)

thatsit — Sat, 17 Sep 2016 11:57:57 +0000

I used him and he knows the law.
1-try to see if your defendant is solvent. Suing an empty
company is useless.If it is an individual then good news
Be realistic.if will take years before you get a judgment
In mexico. Same in Canada.
2-try to see with Galindo if you can have an action that
Gets published on the titles of the condo.
If so you freeze his proprty and he cannot sell it.
It forces negociations believe me.

Need help with real estate deal gone bad (reply)

rojo — Sat, 17 Sep 2016 01:45:25 +0000

Who was your real estate agent? Aren't they representing you in the deal?

Need help with real estate deal gone bad (reply)

midalake — Sat, 17 Sep 2016 01:25:29 +0000

need help to get my deposit returned.
have a signed, informal contract, paid a substantial deposit, the deal fell through and the seller is not returning my money after notification in May
my attorney in the usa said I need to pursue in Mexico. I am an American so is the seller, property in Ixtapa.
any and all advice will be received gratefully

Sr Galindo is your man.

Was this a condo or freestanding? Email me if you do not want to share public.

Need help with real estate deal gone bad (reply)

colbyco9 — Fri, 16 Sep 2016 22:42:20 +0000

need help to get my deposit returned.
have a signed, informal contract, paid a substantial deposit, the deal fell through and the seller is not returning my money after notification in May
my attorney in the usa said I need to pursue in Mexico. I am an American so is the seller, property in Ixtapa.
any and all advice will be received gratefully

Need help with real estate deal gone bad (reply)

colbyco9 — Fri, 16 Sep 2016 22:38:11 +0000

Thank you, I read he was the best.
I just could not remember his first name.
Also my attorney in the USA needs assistance and I will pass on the information.

Need help with real estate deal gone bad (reply)

ZihuaRob — Fri, 16 Sep 2016 22:36:46 +0000

Need information on Sr. Galinda the real estate lawyer.
Thank you in advance

What kind of information? Dirt? Recommendations? Experiences?

Need help with real estate deal gone bad (reply)

Emmet — Fri, 16 Sep 2016 22:35:18 +0000

So sorry to hear you're having a problem. Agustin Galindo is great. Here you go: http://www.galindoabogados.com/thefirm.html. His offices are right by the basketball court (looking down on the court). Good luck.

Need help with real estate deal gone bad

colbyco9 — Fri, 16 Sep 2016 22:30:28 +0000

Need information on Sr. Galinda the real estate lawyer.
Thank you in advance