use an attorney in real estate purchase?

by jakewills @, Wednesday, February 09, 2022, 22:37 (1735 days ago)

Long time lurker here, but new member. We are in the process of purchasing a property -- under contract and closing in a couple months. We'll be moving there in June. Wondering if any of you have used an attorney to review the final papers, trust, etc before the closing/finalisation.

I trust our agent, but he is the agent for the seller too. I understand the notary is independent and responsible for being everything right, and that the bank for the trust must sign off. Just wondering if it is normal or advised to use an independent attorney not involved in the transaction review everything before the big commit. Or is that overkill?

The transaction is pretty straightforward, so I don't have any specific concerns. But this is our first time through this process in Mexico, so want to make sure I am not being naive. Thanks!

use an attorney in real estate purchase?

by Little Guy @, Wednesday, February 09, 2022, 23:28 (1735 days ago) @ jakewills

I used a lawyer to represent my interests. I am glad I did.

Prior to the sale, he met with the seller and went over all of the documents and had the seller confirm that all of the information was correct.

Then, before completion he met with the seller again and went over all of the documents again. The seller confirmed everything again. The lawyer then told the seller that if he lied about anything in the documents he could go to jail.

L: “You’re sure that everything is correct?”

The lawyer then touched on some of the key points including, “You are not married.”

S: “Well, we weren’t really married.”

L: “What do you mean, not really married?”

S: “We didn’t have any children.”

L: “But were you married? Was there a civil marriage registered?”

S: “Well, yes, but she left me”

L: “We’re you ever divorced?”

S: “No. I don’t know where she is. You’ll never be able to find her.”

The sale screeched to a halt. If it had not, I could have bought the property and years later the ex-spouse could have surfaced and claimed that the sale was not effective.

The lawyer put out word that if the ex-wife reported to him and provided her consent to the divorce and the seller would give her settlement money from the proceeds of the sale.

Within a week or two, the ex-wife appeared. The divorce was done, settlement money paid and the property sale completed.

I considered the fees paid to the lawyer to be money well spent.

(The lawyer is not practicing in the Zihuatanejo area anymore. They are practicing elsewhere in Mexico.

use an attorney in real estate purchase?

by El Fantasma, Thursday, February 10, 2022, 12:25 (1735 days ago) @ Little Guy

(The lawyer is not practicing in the Zihuatanejo area anymore. They are practicing elsewhere in Mexico".

He ran off with the ex-wife.

Seriously, great advice providing you get a good one as you did. Too many just go through the motions and collect a fee.

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use an attorney in real estate purchase?

by frostbite @, Hamilton MT, Thursday, February 10, 2022, 06:11 (1735 days ago) @ jakewills

Ana Lozano alozanomexicanattorneys.com.mx OFFICE: 755-554-6007 Cell: 755-115-0839 Speaks excellent English.

use an attorney in real estate purchase?

by Padrino ⌂ @, Rosarito/Zihuatanejo, Friday, February 11, 2022, 00:01 (1734 days ago) @ frostbite

Many thanks for the referral, Casa Amarillo Man! Just a quick point of information. The link you included does not seem to work anymore. You have to remove the "alozano." I guess Abogada Ana was able to score a shorter version of the name.

https://mexicanattorneys.com.mx/en/

use an attorney in real estate purchase?

by midalake @, Thursday, February 10, 2022, 09:02 (1735 days ago) @ jakewills

Long time lurker here, but new member. We are in the process of purchasing a property -- under contract and closing in a couple months. We'll be moving there in June. Wondering if any of you have used an attorney to review the final papers, trust, etc before the closing/finalisation.

I trust our agent, but he is the agent for the seller too. I understand the notary is independent and responsible for being everything right, and that the bank for the trust must sign off. Just wondering if it is normal or advised to use an independent attorney not involved in the transaction review everything before the big commit. Or is that overkill?

The transaction is pretty straightforward, so I don't have any specific concerns. But this is our first time through this process in Mexico, so want to make sure I am not being naive. Thanks!

Yes you should for many reasons. One item that is a must is making sure your heirs are correctly listed on the deed and with the fiduciary. Remember ANY change that is required in a deed requires almost FULL PRICE to change.

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use an attorney in real estate purchase?

by ken @, Ixtapa, Friday, February 11, 2022, 17:18 (1734 days ago) @ jakewills

I'd certainly recommend using an attorney for a property purchase. I've bought/sold several properties in the 25 years we've been here, and always felt much better about the transaction because of doing so.
Property ownership and rights are quite complicated in Mexico and it's good to have someone who has a working knowledge of the ins and outs of this sort of thing. With that said, not just any attorney is a good thing --- you need the right attorney.