QUESTIONS for Intercasa

Spencer, you give lots of good advise here, so I think you'll know this.

What is the cost of the new FM 2? It will be a new book as I now have an FM 3, ready to expire in November. Where are you working out of?

What do you know about capital gains when selling a house?

You mean under the new rules? Under new rules no FM2 but really to early to tell much about changes, as of today. Capital gains apparently is going through interpretation / withholding changes which will change with the new immigration law changes.

I'm working out here in Chapala, right smack in front of last night's gun fight.

If it isn't in Ajijic or Boston (the two best places in the world), then John doesn't know or want to know.

A new FM2 assuming you would want to change and the new rules have not taken effect would be $4,500 pesos. They can be done without waiting for an FM3 to expire and are taking about 2.5 weeks.

[quote="johninajijic"]Spencer, you give lots of good advise (sic) here, so I think you'll know this.

What is the cost of the new FM 2? It will be a new book as I now have an FM 3, ready to expire in November. Where are you working out of?

What do you know about capital gains when selling a house?[/quote]

Are you actually contemplating selling your house in the finest neighborhood on the face of the planet, John? If so, why would you seek advice on visa status and tax issues of someone with whom you are clearly unfamiliar yet who, "...give(s) lots of good advise (sic) here, so (you) think (he´ll) know this."

For a man who considers himslf so knowledgeable about so many things, you demonstrate an incredible naivete. Spencer will blow his trumpet up your ass anyday. All he needs is an invitation.

There are many people living here that are concerned about upcoming changes to FM3, FM2, and the impact on their sale of home....me being one.

I have listed my home, now I find that we may be subject to Capital Gains tax, even though at the time of my purchase...12/2005, would not be subject to cap tax....if owner occupied for 6 months. I made an ass outa me , as I made major capital improvements on property, and do not have proper facturas on work done. Only bids, payment and signed payment acceptance.

The real estate brokers here know nothing, The Notario's are confused as to what will happen......the rumor is 30% capital gains tax.....is of concern.

I renewed my FM3, and will make a decision once I have an offer on my home, and change my FM status before closing....based on legal input.

Apparently, according to a notario office I spoke with a few minutes ago the FM2 is being interpreted as being more permanent or inmigrante instead of not permanent no inmigrado and FM2 will give better tax treatment and then at renewal or earlier the person will have to change to the new permanent resident status which they say will take effect January 1st.

Thank You Spencer, Just want to know what my widowed friend faces. She purchased her home in 1989. She purchased home, and now may face 30% tax, on gain , yet no definition has been provided by Mexico gov. ????

johninajijic wrote:Spencer, you give lots of good advise here, so I think you'll know this.

What is the cost of the new FM 2? It will be a new book as I now have an FM 3, ready to expire in November. Where are you working out of?

What do you know about capital gains when selling a house?

A new FM2 is 2800pesos plus 669p registration

ronnie wrote:

johninajijic wrote:Spencer, you give lots of good advise here, so I think you'll know this.

What is the cost of the new FM 2? It will be a new book as I now have an FM 3, ready to expire in November. Where are you working out of?

What do you know about capital gains when selling a house?

A new FM2 is 2800pesos plus 669p registration

And from who gave you that price? It sounds too cheap.

I have been told anywhere from $ 4500. to $ 5500. pesos.

That is what it cost me to do.

$2801 and $669 are the costs at INM. If you use and expediter, you'll pay for that service as well as the INM charges.