大咖福利影院

mexicogc wrote:

Hi to the 2 previous writers "4theloveofsun" & "janalea",

First, I tend to agree that in modern, residential, gated community ans touristy areas where NOTB people or rich Mexicans built, purchase the values are overpriced.

Second, I read and ear to many comments like the one from "janalea" not quoting any price so...how can someone compare???

From my part, I'm not interested in buying (reasons: cost, maintenance and moving on). My wife and I live fulltime in Mexico since last August before travelled Mexico 6 months/year (RVing, renting), finally, renting a 2bdrm with split A/C, 1bth, roof and backyard terrasses, pool, 3 washers/2 dryers, fully furnished (nice & modern), all amenities included (internet, cable TV, gas, electricity and maintenance), paying for my housekeeper 220$ pesos/week. Our rent for all of that is 9000$ pesos/month with the flexibility to move on (ie: political instability, cost of living, bad neighbours or neighbourhood), this is a small complex of 8 bungalows (from may to november, we are alone because the SNOWBIRDS are gone) at that price I need to live in that apartment for about 38 years before having spent the equivalent of 250000$USD based on a 18 pesos to the USD exchange rate.


Adios y buen dia a todos, GyC.

I have to budget for my retirement too.聽 It is quite possible/probable as inflation increases so will rent prices.聽 What will happen to me when I'm my dad's age if I have spent years paying the landlords mortgage payments?聽 If I were older it would work.聽 Who knows, I may die before my dad and my husband and they are considerably older -- if I keep this up the odds are I will hahaha.

alleycat1 wrote:

"Fideicomiso (if needed) `$1,500 US + Annual fees."

A fideicomiso for a $200,000 USD house will be about $9,000 USD plus about a $600,00 USD anual fee. Notarios here in San Luis Potosi charge 3% of the cost of the house or $6,000 USD not 4 to 7%. or $8,000 to $14,000 USD. Registro Civil fee [Registry fee] here for a $200,000 USD house is about $100.00 USD not $4,000 to $8,000 USD. Agent fees are paid by the seller not the buyer. Title insurance is included in the 3% Notarios fee. There is no sales tax and any taxes are paid by the seller. Acquisition Tax [permission for a foreigner to buy property in Mexico] is about $200.00 USD and is only applicable to foreigners and is not $4,000 to $8,000 USD on a house that price. Rough total cost here would be about $9,000 + $6,000 + $200.00 + $200.00 = $15,400 USD or about聽 8% not 25% of $200,000 or $50,000 USD. I don麓t know where you got that information from?

I know links are sometimes excluded, but the page I got the percentages/breakdown from is .聽 Toward the bottom of this page with the heading: Costs and Taxes of Mexican Property is the list I detailed above.聽 I couldn't remember where I read the article and while I was searching for it I found a different page, detailing much lower costs; about half way down the page with the heading: Closing And Title Transfer.聽 Regarding fideicomiso I found several pages with different prices, but it seems banks will compete for your business; not unlike mortgage rates in the US.聽 I know a good credit rating can make competing interests rates much better, but I'm not mortgaging, and I'm not in Mexico.聽 How you can make fideicomiso more attractive to the banker is an unknown for me.聽 I like the fideicomiso explanation given on .聽 I have read so many different prices for fideicomiso I'm going a little bonkers (well, I was already bonkers, so more bonkers than usual聽 ; this page seems to give a plausible explanation for the variation in fees.

It seems to me that even after you do your homework, you had better get a very good attorney to review all of this with; provide him/her with the research and get help!聽 Just ridiculous how so many people have so many "facts" about this;聽 not much different in the US either.聽 We are taken advantage of at every opportunity.

jazminerose wrote:

My caveat would be to avoid using attorneys or notarios recommended by the seller or either real estate agent.

Understand that each state in the US has some system of regulation of agents so that they can become members of NAR and access their local MLS. Becoming a realtor in many states is extremely expensive. Some states also require E & O insurance. There is often fingerprinting and background checking. By the time an agent is hired by an office, there is a decent probability that they are reasonably trustworthy.

Even with all of those safeguards, there are still crooked realtors in the US.

In Mexico, there are *no* safeguards. No license is required, unless something just changed. No matter how lovely your agent may be, you are on your own, Gringo or Gringa.

I can鈥檛 speak to whether the large franchisees, ie C21 or ReMax, et al. are 鈥渟afer鈥�. That鈥檚 a function of how much control the parent company exerts over its franchisees. It could be that they are only required to be in compliance with Mexican law. Or, the parent company could have additional standards that they actually enforce. That would be an interesting research topic.

We think too much like Americans. THEY COULD BE FIRED FOR THAT! THEY COULD GO TO JAIL FOR THAT! Yawn. Wake me up when it happens.

It doesn鈥檛 happen HERE. What makes you think Mexico would be *more* strict? You might be amazed at how rare it is for a complaint against a realtor to be taken seriously in the US. We get torturously screened and pay obscene tithings. They pretty much leave us alone beyond that.

When we鈥檙e talking about real estate, which a judge once (correctly) explained to me is *never* an inexpensive problem, we have to shake our US thinking out of our heads. You will *not* be on equal footing. *Fair* will have a completely different definition.

Those of you who feel like you good good deals and are happy, I salute you.

In Mexico usually a realitor is not relyed on to do anything other than help find a property and then you have to determine the undisclosed condition the property is in by hiring a trusted engineer and Noterio/a to tell you what it is worth and what needs to be done. A realitor has no liability or ability to do much in the line of protecting your interest so simply shove them aside and protect yourself and hire a good engineer and have an avaluation done before accepting a fair price to pay. In Mexico it is your respondsibility to protect yourself from fraud not someone who has no interest in your problems or any civil court system which in Mexico is a small cry from the civil court system you would rely on NOB - North of the Border. Forget your experience there and stop comparing it to buying property in Mexico and learn it's system which I described in my above post. Easy and safe if you choose the right property. Don't buy property on Ejido land.

jazminerose wrote:

Yes. I think the hard part for those coming from the US is understanding exactly what you said. We are used to the idea of the realtor having heavy liability.

Of the 13 years I spent as a broker in either the most or nearly the most litigious state in the union (California), seven of those was owning my own brokerage. Liability I know about. We were up to something like 34 disclosure forms, including one for 鈥淓rrant Golf Balls鈥�. Those were mandatory whether the property was on, or 200 miles from the nearest golf course.

That kind of thinking generates a huge culture shock when US citizens house hunt in MX. we need a powerful deprogramming. You are on your own. Get a reputable attorney who works 100% for *you*.

The "attorney" you mention in Mexico is called a Notario/a and they do not work 100 percent for you, the buyer, even though you selected them to process the sale of a property you are buying. They work for both the buyer and seller in Mexico. The realtor works for the seller not the buyer and gets paid by the seller. Therefore foget NOB real estate systems and understand Mexico's system instead. Don't sign a sales agreement drawn up by a realtor here. The sales agreement should be first only in Spanish to be legal and second your Notario/a must read it and revise any clauses not in agreement to both you and the seller before both sign it and make a binding contract. Realitors are not envolved in legally entering you into a binding contract on behalf of the seller unless you foolishly sign a contract without the legal advice of your lawyer, your Notario/a. NOB, North Of the Border, real estate purchases have no similarities here in Mexico as the system is completely different legally. Know you rights and please do not listen to what realtors say as they have no liability to disclose any information about the property you are interested in and no legal authority to have you sign their sales agreement no matter how hard they push you to do it. Wait until your legal representative tells you what and when to sign anything or give anyone a deposit or payment to protect yourself from being taken advantage of because you are new to the rules/standard proceedures and liability laws.

@4theloveofsun聽 you can't be a shitting house where I live for less than 2 million.聽 Your lucky if you can buy a parking spot or a boat slip for $100k.聽 A studio apartment here rents for $2k if your lucky to find one and if you do it will be old and out dated and around 200 sq ft.聽 Most people don't go to Mexico thinking they will have a 30 year mortgage. It's widely known that you should have cash.聽 As well as the fact if your going to buy close to the water you'll have to set up a lease agreement.聽 I believe 30 miles away from the water excludes that.聽 The whole point of buying in Mexico is to save money.聽 So setting yourself up to pay interest defeats the purpose.

聽 Btw a townhouse without a garage and no land or yard at all with one parking spot and common walls is a minimum $2,000,000.00.聽 stop complaining.

@jazminerose I would agree.its almost as risky as an agent double ending a deal.confkuct of Interest.聽 Find a third party who doesn't know the seller or agent.