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The Gringo Gazette North is reborn
#21
SF 19 ...

[Image: image017copy_zps6db3cd39.gif]
Suicide Hot line, Pete here, please hold
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#22
If this is all true-do any of the expats in Rosarito have a clean title to their property?
Woooosh, what is the title situation in your neighborhood?
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#23
(04-25-2014, 07:27 PM)Tijuanero No Mas Wrote: If this is all true-do any of the expats in Rosarito have a clean title to their property?
Woooosh, what is the title situation in your neighborhood?

Nope, no one has one that I am aware of. We purchased our lot from a French national and had the property taken out of a bank trust because my husband is a Mexican national. Even so- we don't have a National Land Title from the SRA in our Escritua package, but it may be held by the Fraccionamineto (a large parcel of land subdivided and sold as lots).

As you saw in the above posts- all Rosarito Beach has the same problem since Rancho La Costa Azul has the payment receipt and approved map for the purchase of most of coastal Rosarito. Of course this does not stop the sale and transfer of land- led by Hugo Torres Chabert. His strategy has been to use his power (he is the founder of Rosarito and headed it's split from TJ 15 years ago) and his SEMARNAT connections to build on the land making it hard for the true owners to undo it.

A representative for Rancho La Costa Azul- Raphael Munoz, was able to stop Torres from selling one downtown nightclub building when Torres claimed to be the land owner. BajaNoMas was able to stop Torres' partner- Grupo Aries from selling condo units in the Playa Bonita Condos for the same reason.

Here is that thread- which includes a heated exchange between the Grupo Ares lawyers, Raphael Munoz and members of BajaNoMas. Munzo is fresh off a legal victory in Playa Buenaventura and his next victory will be in Rosarito Beach imho. Rancho La Costa Azul has stated they support the Rosarito Beach Malecon and won't act against individuals like us who "own" property in their map area. The condo towers and businesses who built on their land are another matter.


http://fulano.info/forum/thread-22.html
(I believe the "moved or deleted" first picture was this one)
[Image: Tormento20104.jpg]
BajaNoMas= News, Facts, Stats, Videos, Pics and Links- because presenting the truth to the public is not a negative campaign "Decir la verdad no es ninguna campaña negra".
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#24
Thanks for all the pertinent information regarding real estate investment in Rosarito Beach. I am glad you were able take your property out the Mexican trust. That must have saved you money and made you feel more in control of your property.
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#25
(04-26-2014, 03:57 PM)Tijuanero No Mas Wrote: Thanks for all the pertinent information regarding real estate investment in Rosarito Beach. I am glad you were able take your property out the Mexican trust. That must have saved you money and made you feel more in control of your property.
The problem with a Bank Trust is that you don't ever get to see or touch your National Land Title. They try to cover this up with a "Stewart Title Insurance policy" which gives false assurance because their policy only covers the COST to research the title- not reimburse you if there is no title. One of the above posts tells the danger of banks and bank trusts working with a condo developer. The original Gringo Gazette reported people tried to resell their condos they had paid cash for- only to find Hugo Torres Chabert had borrowed against them and they were in foreclosure. The investors were, and still are- shit out of luck. This is why current Rosarito Mayor Silvano Abarca Macklis is calling for the revision of Article 27 to allow foreigners to hold their land titles without any middlemen.
BajaNoMas= News, Facts, Stats, Videos, Pics and Links- because presenting the truth to the public is not a negative campaign "Decir la verdad no es ninguna campaña negra".
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#26
Again, more great information that people investing should know about. The real estate salesmen make it seem like having the property in trust is the same as owning it. Wooosh, you could write a book, or start a website solely about Mexican real estate.
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#27
(04-27-2014, 12:20 PM)Tijuanero No Mas Wrote: Again, more great information that people investing should know about. The real estate salesmen make it seem like having the property in trust is the same as owning it. Wooosh, you could write a book, or start a website solely about Mexican real estate.
Too depressing. In theory, having your property in a bank trust should be the same as owning it. In most cases it works out just fine. But cheating to get ahead is not a crime in Mexico and "gringos" with money are at the bottom of the food chain. With the papers kept at the bank- you have to trust they are valid and haven't been tapered with or borrowed against. Trust is something Mexicans don't do and neither should an investor. Invest further south in Baja or wait until Article 27 is changed so you can hold the papers yourself. IN NO CASE should you buy into an ejido that was formed using a "virtual execution". They are being overturned all over Baja because that procedure wasn't legally correct to begin with. People are losing everything and the titles those "virtual executions" created are worthless.
BajaNoMas= News, Facts, Stats, Videos, Pics and Links- because presenting the truth to the public is not a negative campaign "Decir la verdad no es ninguna campaña negra".
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#28
(03-25-2014, 01:22 AM)elektra Wrote: She'll likely have many ads for "real estate" and articles about the process of "buying" property in Mexico.

"Everyone has been extremely bullish on the economy" Really? Funny farther south they sure aren't.


Any US citizen who goes by what local and American real estate sales people tell are badly misinformed. You should consider writing an offer to purchase both seller/buyer agree on a notarize signatures. Then you the buyer should pay $750 to use Fidelity National (New york/Mexico City) as the escrow company ("Marti, Pablo" <Pablo.marti@fnf.com>) is Mexico DF office. DO NOT GIVE OFFER AND DEPOSIT until escrow completed and title is provided. Be sure liens or third-party claims are entered into during escrow process. This should be in your offer letter. I think there are many real estate people earning their commissions by sucking buyers into the criminal sellers who take your $ and promise to deliver you the title.
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#29
(04-28-2014, 08:50 PM)Emilio Wrote:
(03-25-2014, 01:22 AM)elektra Wrote: She'll likely have many ads for "real estate" and articles about the process of "buying" property in Mexico.

"Everyone has been extremely bullish on the economy" Really? Funny farther south they sure aren't.


Any US citizen who goes by what local and American real estate sales people tell are badly misinformed. You should consider writing an offer to purchase both seller/buyer agree on a notarize signatures. Then you the buyer should pay $750 to use Fidelity National (New york/Mexico City) as the escrow company ("Marti, Pablo" <Pablo.marti@fnf.com>) is Mexico DF office. DO NOT GIVE OFFER AND DEPOSIT until escrow completed and title is provided. Be sure liens or third-party claims are entered into during escrow process. This should be in your offer letter. I think there are many real estate people earning their commissions by sucking buyers into the criminal sellers who take your $ and promise to deliver you the title.

How does one determine the title is valid? There are no title plants in Mexico, and no title insurance, and one has to rely upon the notario publico to do the title search. As discussed here, the notarios in Baja California do not check for a National Land Title and do not indemnify the buyer for title defects. It is the job of the notario to check for liens, but that won't protect you from competing ownership claims and a defective title. It won't even protect you from forged documents, which is common in Mexico.

I would also add that there is no such thing as an Escrow Company in Mexico -- at least not like in the US, where the funds deposited in escrow are separate assets and not within the reach of the escrow company's creditors.

Then there is the problem of people like Hugo Torres, who sell a condo for cash to a buyer and then borrow money against the whole project with a bank like this poor sucker.
Más vale pocos pelos, pero bien peinados.
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#30
(04-27-2014, 02:27 PM)Woooosh Wrote:
(04-27-2014, 12:20 PM)Tijuanero No Mas Wrote: Again, more great information that people investing should know about. The real estate salesmen make it seem like having the property in trust is the same as owning it. Wooosh, you could write a book, or start a website solely about Mexican real estate.
Too depressing. In theory, having your property in a bank trust should be the same as owning it. In most cases it works out just fine. But cheating to get ahead is not a crime in Mexico and "gringos" with money are at the bottom of the food chain. With the papers kept at the bank- you have to trust they are valid and haven't been tapered with or borrowed against. Trust is something Mexicans don't do and neither should an investor. Invest further south in Baja or wait until Article 27 is changed so you can hold the papers yourself. IN NO CASE should you buy into an ejido that was formed using a "virtual execution". They are being overturned all over Baja because that procedure wasn't legally correct to begin with. People are losing everything and the titles those "virtual executions" created are worthless.


AMERICAN REAL ESTATE AGENTS working in BAJA are ignorant or crooked. I have for 7 months met most in search of property but did my own research. It seems many of these people are FEEDERS to the crooked developers who promise titles. Many Americans are easily given a sense of security....

Never give deposits and if you do give small. Your Offer to Purchase must be signed and notarized by both parties and it should include your protective clauses to back away if the Seller does not comply. If possible (your cost is $750) use FIDELITY ESCROW SERVICES (New York/Mexico City) as the agent and since you are paying insist on your security escrow statements. The funds in escrow should be in New York and not Mexico. New York corporate laws are very tough. $750 is small when buying anything in the $100K plus range. Never give a deposit so they can get title, you may never see your deposit again.
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