INSIDE LAKESIDE
Log In or Register

Check your spam/junk folder for activation e-mail after you register.

Join the forum, it's quick and easy

INSIDE LAKESIDE
Log In or Register

Check your spam/junk folder for activation e-mail after you register.
INSIDE LAKESIDE
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Getting the Shaft on REAL ESTATE in MEXICO

+21
Explorador
DaveP
slainte39
Vandre
Lady Otter Latté
SunFan
Intercasa
peteben
Fastfox
RVGRINGO
Sideways
WillieRae
brigitte
sir
solajijic
SunshineyDay
Canmex 87
CanuckBob
hockables
helohfe
Jim W
25 posters

Page 4 of 4 Previous  1, 2, 3, 4

Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by Trailrunner Mon Jan 18, 2016 7:40 pm

Rent. What's the rush?
Rent in different pueblos, they are all different. After awhile you will know where you want to buy. There are a thousand different ways to live here and it takes a little bit to find where you fit.

If you buy, you can't move.

Trailrunner
Share Holder
Share Holder

Posts : 8003
Join date : 2011-04-18

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by David Mon Jan 18, 2016 7:46 pm

Good advice. We didn't do that. We lucked out and found a great house in a great barrio and bought it in 2005. No regrets. Never the less, I tell all newcomers to rent first! There's no hurry.
David
David
Share Holder
Share Holder

Posts : 5003
Join date : 2010-04-05
Location : Ajijic
Humor : Good

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by brigitte Mon Jan 18, 2016 8:29 pm

yes everyone is different. I bought a house the first week I was here and we are still living in the same house 15 years later.

brigitte
Share Holder
Share Holder

Posts : 4309
Join date : 2011-12-02

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by CanuckBob Tue Jan 19, 2016 8:49 am

We visited the area for 4 - 6 weeks each year for 5 years prior to moving here FT. Each year we would rent a house in a different area. From Chapala to SJC, mountainside (with view) to lakefront, gated community to village. After moving here we rented for the first year then finally purchased a place in a great location in the village. The prices were low and the CDN$$ was 1.02. The timing felt right and we love the place we bought.
CanuckBob
CanuckBob
Share Holder
Share Holder

Posts : 20300
Join date : 2010-04-04
Age : 60
Location : Lake Chapala (from Vancouver)
Humor : Sick and twisted

https://casadecomo.mx

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by gringal Tue Jan 19, 2016 9:54 am

David wrote:I and one of the other posters above are homeowners. In my case, for over 10 years. The definitions of Factura and Finiquito are correct. The assertion that the future sale is taxable is NOT true if you are Residente Permanente.

I've owned homes in Mexico for over twelve years; one in SMA and the current one in Ajijic. David is also a homeowner.
I'd suggest that Vandre hesitate before making assumptions.
I agree wholeheartedly that, even though it's not the most comfortable situation for some, renting until you are thoroughly familiar with an area is the most practical approach, especially in a market where sales can be very, very slow. Rolling Eyes

gringal
Share Holder
Share Holder

Posts : 11952
Join date : 2010-04-09
Location : Lake Chapala (from CA)
Humor : occasionally

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by CanuckBob Tue Jan 19, 2016 10:07 am

And paying for a quality inspection and a good Notario when you do find a place you want to purchase.
CanuckBob
CanuckBob
Share Holder
Share Holder

Posts : 20300
Join date : 2010-04-04
Age : 60
Location : Lake Chapala (from Vancouver)
Humor : Sick and twisted

https://casadecomo.mx

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by gringal Tue Jan 19, 2016 10:10 am

CanuckBob wrote:And paying for a quality inspection and a good Notario when you do find a place you want to purchase.
...And bear in mind the difficulty of inspection I mentioned in my first post on the subject. I'll spare you the horrible details about unseen and inaccessible problems.
I think you took the most practical approach, Bob.

gringal
Share Holder
Share Holder

Posts : 11952
Join date : 2010-04-09
Location : Lake Chapala (from CA)
Humor : occasionally

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by CanuckBob Tue Jan 19, 2016 10:27 am

Yes, with everything buried in cement it is difficult to inspect the plumbing and electrical to any great degree. I guess the only solace is that it is relatively inexpensive to fix things compared to NOB. I have also found that these Mexican houses require a lot more maintenance than any house I owned NOB. It seems there is always something needing repair or paint. I am fortunate that I can repair most things on my own.
CanuckBob
CanuckBob
Share Holder
Share Holder

Posts : 20300
Join date : 2010-04-04
Age : 60
Location : Lake Chapala (from Vancouver)
Humor : Sick and twisted

https://casadecomo.mx

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by gringal Tue Jan 19, 2016 10:31 am

CanuckBob wrote:Yes, with everything buried in cement it is difficult to inspect the plumbing and electrical to any great degree. I guess the only solace is that it is relatively inexpensive to fix things compared to NOB. I have also found that these Mexican houses require a lot more maintenance than any house I owned NOB. It seems there is always something needing repair or paint. I am fortunate that I can repair most things on my own.

Well, there's "can" and there's "can, but don't want to", at which time we're grateful to know a small time contractor and an excellent plumber/electrician/ironworker whose bro does tidy painting. Last year, the main sewer line broke and believe me, that Evil or Very Mad fell into the "don't want to" category.

gringal
Share Holder
Share Holder

Posts : 11952
Join date : 2010-04-09
Location : Lake Chapala (from CA)
Humor : occasionally

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by Trailrunner Tue Jan 19, 2016 10:38 am

gringal wrote:I think you took the most practical approach, Bob.

Me too! That's over and above due diligence and I'm sure it has paid off in spades for them. Way to go.
Trailrunner
Trailrunner
Share Holder
Share Holder

Posts : 8003
Join date : 2011-04-18

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by DaveP Wed Jan 20, 2016 6:29 am

Vandre wrote:Slaint -- It's been mentioned here & in other threads, that in times past, it was not uncommon for Notarios to record "lowball" purchase price numbers in an escritura.  It's also said that, now, they enter the "real" numbers.  Can anyone explain the "Incentives" for Notarios  to have falsified these numbers in the past ......  weren't they risking their "lucrative appointment" by defrauding various entities of higher taxes/fees?  Surely, there was some kind of crack-down that forced this change-of-practice, AND wouldn't that, in itself, be a defense against 10yr old falsified escrituras?

DaveP -- I'm not aware of that Treaty.  But I'm finding that rather hard-to-believe .......  in that the IRS (w/FATCA) is sure making it difficult to avoid their taxing my meager MX bank account % (of maybe $750), but that they'd forgive tax.on 100-400K income.  Can you refer me to an official reference to that Treaty & how it is interpreted by the IRS?

I had stopped watching this thread and only just saw your request. This is the reference for you.

https://www.irs.gov/Businesses/International-Businesses/Mexico---Tax-Treaty-Documents and

https://www.irs.gov/pub/irs-trty/mexico.pdf

I have been dealing with tax situations across borders for 26 years and have dealt with many situations between Canada/US, Canada/UK, Canada/Mexico and US/Mexico.

Are you filing declarations on  foreign bank accounts totaling less than $10,000.00 USD? Or investments totaling less than $50,000.00 USD. It is not required.
DaveP
DaveP
Share Holder
Share Holder

Posts : 761
Join date : 2010-04-05
Location : Cottonwood, Arizona
Humor : A little English

Back to top Go down

Getting the Shaft on REAL ESTATE in MEXICO - Page 4 Empty Re: Getting the Shaft on REAL ESTATE in MEXICO

Post by Sponsored content


Sponsored content


Back to top Go down

Page 4 of 4 Previous  1, 2, 3, 4

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum