Any homes for sale by owner?

#1
My husband and I are looking to relocate permanently to PP. Does anyone know of a home or condo preferably 3 bedrooms with ocb? View of beach or on the beach preferably. Interested in owner occupancy and have read a few horror stories so I want to be certain I do all of my home work. I know the economy has hit many hard so perhaps we can find a win win situation.

Just as a side note I have really enjoyed reading this board and the wealth of information so many have been kind enough to share.

Cant wait to be part of such a warm community!

Dina & Chris
 

Terry C

Well Known Member
Forum Supporter
#2
I guess a good start would be where or what do you want to purchase? A house, condo? Sandy Beach, Cholla Bay, Mirador, close to town, in town, out of town area like Las Conchas, Playa Encanto and many other places?

Realtor's are on a MLS of a Mexico kind AMPI. Check out Grant Mackenzie Sr. web site

at FREE REPORT: Rocky Point Mexico Property, Homes in Puerto Penasco Mexico, Property in Rocky Point Mexico, call Grant MacKenzie 602 334 4359, REMAX Legacy Properties

RE/MAX . You can find a lot of everything there.
 
#3
Thanks for the response Terry.

We are VERY flexible depending on the situation. Condo or house, nothing less than 2 bedrooms. It is just my husband and myself with a parrot thrown in for good measure. We will consider a lease purchase. We are also flexible to the area in or out of town, I like Sandy Beach but lets face it compared to Seattle ITS ALL GOOD! :)

My husband is retiring US Gov and I own 3 businesses that I will continue to run south of the border. If there is someone out there that is facing foreclosure and needs a solution we might be able to help.
 

Terry C

Well Known Member
Forum Supporter
#6
I don't know about foreclosure's and I don't think Realtor sites publish it in RP. Maybe someone else can reply on that subject.

You best bet would to browse through the site I posted and look at the prices in all the areas.
 
#7
Come down and look around. There are lots of good deals, but there's also lots of good scammers and good manipulators. Double check everything you learn....There's alot for sale, houses and condos. (We rent right now cause trying to sell a beach house down in Guerrero), but we are planning to buy, or maybe build. Buena suerte!
 

Miakko

Well Known Member
#8
There are a lot of fabulous homes and condos available around Rocky Point; don't think I've seen foreclosures advertised. You'd have to drive around in the area(s) that you're interested in to find FBO houses. Favian and Casheila are great agents Puerto Penasco Sonora Homes for Sale

If you look at properties online you'll start to get an idea of the prices for homes and condos but you really need to be in town to get a feel for which area you'd be most comfortable in.
 
#9
Thank you for all the input. All of the properties listed online are through real estate agents but have helped to give me an idea as to what is available. I look forward to heading down and looking around!
 

jerry

Well Known Member
#12
2 great condos left in the building at Santo Tomas,the penthouse( spectacular)and a bottom floor unit that can still be changed to two 1br. Or a single 3br...225 k as a large 3 br....think is the last bargain in the subdivision Our workers are painting the outside this week..or for a small story and a half custom home on a big lot figure 160k for a 2 br. 2 bath image.jpg 1 image.jpg image.jpg image.jpg 1400 sq ft house. gated,underground utilities,safe drinking water,guarded,120$ a month fees..bill paying included. But a hour from rockypoint which has it's good and bad points...set near vineyards,olive groves....I will take your parrot for a ride on my electric bike with a purchase!
 

Roberto

Well Known Member
#14
Well, forclosure in Mexico is extremely rare since there is virtually no traditinal financing. Defaults here have no impact on credit rating in the US so most defaultees don't care. Condo defauts usually go back to the original developer who financed the original sale and they will put the unit back on the market at market value. Same with home defaults with the original owner. Thinking you can step into a home half paid off is not gonna happen here.

There is no substitute for being on the ground for a time perios and searching. You need to be comfortable with the area and the only way that will happen is if you are here. Many of the condos here are in the rental pool and as such are not conducive to daily living. They come to party and they do.

While some of the condo developers wil finance, the best you will do otherwise with an owner financed deal is something like 50% up front and carry for maybe 5 or 7 years max. Sometimes amortization for payments can be on a 15 year schedule to keep the payment low (useful to those planning retirement with a home to sell when the balloon is due) but a balloon at the 5 or 7 which balloon is close to the the original balance on the note.

You can purchase real estate in Mexico and own it legally there are some importatnt things you must do. I've been here 8 years and observed lots of stuff and right now there is only one person I would trust to work with here. Dee Brooks at [email protected] . Otherwise roll the dice. There are some realtors who are honest but many virtually completely uninformed about processes and are at the mercy of their 'Brokers' but there are no Brokers per se in Mexico so there is no help there. AMPI is a fraternal organization with no legal authority. There is NO such thing as an escrow account in Mexico and millions of dollars have been stolen from buyers and sellers in this way, I take great pride in that one of theise thieves called me an A** Ho** when I objected to some of her methods, that happened just before she and her boyfriend left town with several million inf 'escrowed' money. It's the wild wild west so be careful.
 
#15
Thank you Roberto for the advice. I think I have had some priceless advice from board members here and will consider moving down and leasing a place with the hopes of future purchase while I continue to get 'educated' as to how the world works south of the border.

We are not looking for an American experience in Mexico, but a change of pace and a slower life and am willing to take the good with the bad. My husband and I have lived all over the world and look forward to making new friends in PP!!

Cheers,
Dina
 
#16
Well, forclosure in Mexico is extremely rare since there is virtually no traditinal financing. Defaults here have no impact on credit rating in the US so most defaultees don't care. Condo defauts usually go back to the original developer who financed the original sale and they will put the unit back on the market at market value. Same with home defaults with the original owner. Thinking you can step into a home half paid off is not gonna happen here.

There is no substitute for being on the ground for a time perios and searching. You need to be comfortable with the area and the only way that will happen is if you are here. Many of the condos here are in the rental pool and as such are not conducive to daily living. They come to party and they do.

While some of the condo developers wil finance, the best you will do otherwise with an owner financed deal is something like 50% up front and carry for maybe 5 or 7 years max. Sometimes amortization for payments can be on a 15 year schedule to keep the payment low (useful to those planning retirement with a home to sell when the balloon is due) but a balloon at the 5 or 7 which balloon is close to the the original balance on the note.

You can purchase real estate in Mexico and own it legally there are some importatnt things you must do. I've been here 8 years and observed lots of stuff and right now there is only one person I would trust to work with here. Dee Brooks at [email protected] . Otherwise roll the dice. There are some realtors who are honest but many virtually completely uninformed about processes and are at the mercy of their 'Brokers' but there are no Brokers per se in Mexico so there is no help there. AMPI is a fraternal organization with no legal authority. There is NO such thing as an escrow account in Mexico and millions of dollars have been stolen from buyers and sellers in this way, I take great pride in that one of theise thieves called me an A** Ho** when I objected to some of her methods, that happened just before she and her boyfriend left town with several million inf 'escrowed' money. It's the wild wild west so be careful.
Artistic Diva, we have 2 properties in escrow now with Dee, I can say we have had no problems, after 10 years working with her. We listed a house with Dee in 2010, it was sold by a well known real estate company in Puerto Penasco, who instead of handling the closing with a notary directly, decided to use, what they call in Mexico a suplente or middleman, well its been over 3 years and our buyers still don't have the guarantee trust they paid for and our capital gains tax money has disappeared, it will probably be a loss to our buyer of around $20,000.00 dllrs, as his money is also gone. I understand there are several buyers in this predicament. I lost my capital gains money, but the property, was never transferred out of our names. I can also say,the people hired to act as middlemen,also took off with the buyers money for his FM2...$800.00 dllrs
 

Roberto

Well Known Member
#17
I was hoping you would sign on to this issue. It's a serious problem that has not been acted on by the real estate community. Licenses should be revoked over some of the stuff that has happened. There is no excuse. The above is an example. The original seller, Lagrimas85, is still the legal owner of the property as a result. Furthermore the selling agency actually charged an additional fee to manage the sale, as well as collected the sales comission. Talk is that this same sales agency used the same middleman for numerous other 'sales' which are in the same situation today. Officers of AMPI are 'brokers' of some of the agencies involved.
 

Roberto

Well Known Member
#18
Here's is an absolutely hilarious line from the AMPI definition of a "Broker" : “ [FONT=Times New Roman, serif]Broker”is defined as the individual owner of a corporation, or not,
[/FONT]
 
#19
It was a joke, the first contract drawn up by the middle persons, didn't mention anywhere us signing over the house to the buyer's after it was paid in full. Dee had to point it out to them......:hateit:
 
Top