I have an owners closet in the living room and I put a mahogany divider in the large master closet, so I can leave my clothes hanging. And I have a garage I keep the dive gear in.
Buying property vs renting for longer term stays
- Thread starter Dogbowl
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mi000ke
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We have two large walk-in owner's closets. Takes about an hour to pack up at the end of our stay, and about an hour to unpack. We store clothes, toiletries, liquor, non-perishable food, some cooking equipment we don't want to disappear, computer printer, tools, some bedding/pillows, misc supplies, and diving/water sports equipment. Have it to the point where I can just throw on a back pack and go.
Asteve
Contributor
I would say if you have not lived in Mexico any length of time, you have no idea what you are getting into buying in Mexico. I have heard many people say do not buy anything in Mexico that you can not afford to walk away from. I could make a list of horror stories I have heard about buying in Mexico.
I like Mexico and I enjoy visiting, I am not here to bad mouth Mexico so I am going to stop here.
If you are going to buy, do a lot of digging. Ask about title insurance. Ask about Mexico land deeds and record keeping. How much does renewing trusts cost and is it done in a timely manner. Find out who the last 3 person were to own the land. You need answers to all the above and more. I think the answer to the above will be eye opener.
I have never own land in Mexico so this not sour grapes talking, but what I have heard other say that have.
I like Mexico and I enjoy visiting, I am not here to bad mouth Mexico so I am going to stop here.
If you are going to buy, do a lot of digging. Ask about title insurance. Ask about Mexico land deeds and record keeping. How much does renewing trusts cost and is it done in a timely manner. Find out who the last 3 person were to own the land. You need answers to all the above and more. I think the answer to the above will be eye opener.
I have never own land in Mexico so this not sour grapes talking, but what I have heard other say that have.
Well, yea, Mexico does require paying attention, but just walk away from is a bit much, mostly.
1. Get an attorney. Apparently anyone can hang a real estate shingle out. They should be able to help with the deed stuff as well as crossing Ts and dotting Is. And they are really cheap compared to the States. There have been deed issues I have hear about. Apparently you can buy title insurance: Mexico title insurance - Property title insurance - Title insurance in Mexico
2. Trust for me is easy. I have it at Scotia Bank, I registered a CC with them and it just renews automatically. Then I get the notice in the mail about it month later.
No worries whatsoever.
1. Get an attorney. Apparently anyone can hang a real estate shingle out. They should be able to help with the deed stuff as well as crossing Ts and dotting Is. And they are really cheap compared to the States. There have been deed issues I have hear about. Apparently you can buy title insurance: Mexico title insurance - Property title insurance - Title insurance in Mexico
2. Trust for me is easy. I have it at Scotia Bank, I registered a CC with them and it just renews automatically. Then I get the notice in the mail about it month later.
No worries whatsoever.
All of the above: we have an off-site storage unit (where scooters, UTV, and large Christmas decorations live), a locked ventilated bodega at the house, and locked ventilated closets in each bedroom along with a locked cupboard in the kitchen. We have some locked hanging storage (used for wetsuits and my mom's dress) in one of the closets.
We have a really good lawyer and used a really good notario. I do own land in Mexico and have not found it particularly complicated or hard to figure out. I have no concerns at all about title.
Trust for me is easy. I have it at Scotia Bank, I registered a CC with them and it just renews automatically. Then I get the notice in the mail about it month later.
Exact same thing here. Part of the bank's fiduciary duty to me is to ensure that nothing threatens the property held in the trust (for example, that any required payments such as taxes are made on time and that title is clear). If the constitution changes to allow me to own my house fee simple or if I become a citizen, I'l probably leave it in the trust
Yeah. We found that for a while we collected more and more personal stuff at the house, then that we started getting rid of a lot of things that we never actually used. It's an easily-managed amount now. Opening and closing the house is nearly down to a science.
Not much beats heading out of Logan or Manchester for a couple of weeks diving in the tropics with nothing but a messenger bag or backpack.
Asteve
Contributor
This happen in 2010. I was there in 2009 it was a nice little village with a nice hotel. I was there again in 2011 it
was all gone except the hotel and it was closed. This what someone in Mexico with money can do in Mexico.
Tenacatita Bay Bugle
From the article
And even where landowners have won in court, they still are being blocked from taking possession of their property.
Here someone else talking about this.
Tenacatita, Jalisco
was all gone except the hotel and it was closed. This what someone in Mexico with money can do in Mexico.
Tenacatita Bay Bugle
From the article
And even where landowners have won in court, they still are being blocked from taking possession of their property.
Here someone else talking about this.
Tenacatita, Jalisco
We have like 5 minute opening and closed. Don't really have to move anything. The five minutes is backing away battery and cell chargers.
And yea money talks everywhere: Eminent Domain: Being Abused?
And yea money talks everywhere: Eminent Domain: Being Abused?
Under eminent domain you are compensated market value. The fear many have of buying property in Mexico is having the land taken in a title dispute and receiving no compensation. You can buy title insurance and hopefully they are as warm and friendly when you are making a claim as when you are paying the premium. It seems the first thing most insurance companies do with a claim is look for an exclusion to decline/void coverage.
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