All ideas welcome...

Roberto

Guest
Are you quoting Mexican law or US law in some state or region?


Now the story is starting to shape up. Does sound like a contract that went awry. Either way the owner (seller) can not disqualify the original contract unilaterally, the burden is on him not the Buyer. If a good amount has been placed originally (downpayment) plus accrued P in the P&I; the owner is required to give the seller time to make good on the balloon. Time to allow a Foreclose can not be done in 24 hours, and time allowed is dependant on the amount received by the seller. The source of the funds for the balloon should not matter. Depending on the amount of the original down payment and total received by the seller determines time for redemption.

(For ex; take an extreme: Imagine 90% down and 10 % ballon, do you think one day late can be upheld in any court?)

The Buyer should file a legal claim to encumber the transfer and any Buyer would be a fool to get in between this current deal. Any Notario would never allow a transfer until this encumbrance is cleared. Strangely here in RP many purchases are being done with out Title transfers. Some buyers are happy witht the right of use, and this right of use is just purchased and sold like "options on a purchase". The seller considers it rent until purchase (rent to buy)and the buyer considers it mortgage payments (Seller financed). This until the title is cleared up which may never happen.
 
Is this the property, that had a balloon payment due on it, that the buyer could not make, but found another buyer to take out his position and the seller wouldn't permit it or it happened after the due date of the balloon payment? Jusk asking, I remember hearing a year or 2 ago about something like this in Las Conchas.
No, neither one of these properties that Charles Carlis and Glen Martinez are trying to sell with Las Conchas Realty had balloon payments on them.



:happens:
 

playaperro

El Pirata
Nope Wahoo you can Google all you want this has nothing to do with American Laws. As you can see their are National Attorneys. Would of been nice to buy Title insurance like they did out at PLAYA DORADO..
 

jerry

Guest
Nope Wahoo you can Google all you want this has nothing to do with American Laws. As you can see their are National Attorneys. Would of been nice to buy Title insurance like they did out at PLAYA DORADO..
i have a friend that bought in out at Dorado that still has issues hanging over them. It is a place to take a hard look at before buying...
 
Both plaintiffs entered in to a purchase contract with Charles Carlis for each home. Both purchase contracts were put together by Rocky Point Real Estate companies. Mr. Carlis selected who the real estate companies would be to handle the closings. The plaintiffs purchased, per the purchase contract, the home and land (entire) property.

The purchase contracts required substantial down payments. Each purchase contract stipulated 10% interest to be included with the monthly payments. The plaintiff who owns Sec. 13, lot 18 and 16 paid Charles over a five year period $250,000, until he took their properties back.

The plaintiff, who entered in to a purchase contract for Sec. 13, lot 10, twelve years ago, paid Charles over $550,000 up to the spring of 2010. In the spring of 2010 the plaintiffs who purchased Sec. 13, lot 10 contacted Charles and told them they wanted to complete their purchase contract with him. He decided it was not to his advantage to complete the contract.

Fortunately these events along with others, like it in Las Conchas, have broaden the "Circle of Awareness" to people way beyond the little fishing village called "Rocky Point" and the community called "Las Conchas." Organizations in both Mexico and the United States are working together on this "Crime Spree". These properties along with several other properties in Las Conchas are being watched 24/7. So this situation will get eradicated and people can have their dreams back:party:.
 

playaperro

El Pirata
... Who buys real estate (Allows his funds to transfer for RE; down payment) with out having the title transfered at the moment of this exchange? (I will defer answering that)

I do know that in RP somehow people start to seeing Lucy in the Sky with Diamonds and loose all concept of reality. So many 'so called Purchases' never really excist but in the mind of the Realtor (commish) and Buyer (owning ocean views and white sands).

In the above situation all you have to do is ask, who has Title? Ownership remains with the Title holder on record. Period. Sounds like buyers where chasing money gone bad with mo money....[/QUOTE

Wrong Again Wahoo this is getting old Man, I thought I had a hard time with Kenny but we settled.....Have you ever heard of a Pri*k by the name of Francisco Hernandez Mandujano....Sounds like the same **** going on here!
 

Roberto

Guest
I do not know the whole story and do not want to go through 15,000 pages of post here on that subject.

.
Well it seems to me that you have been offering pretty definate opinion based on your admitted lack of information here. Get the facts before you offer advice. You are only adding to the smoke and not adding anything useful otherwise.
 
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