Anybody But Me Been Hearing This Ad on the Radio???

Stuart

Aye carumba!!!
Staff member
Forum Supporter
No.... although they plan on throwing Daniel Butterfield off the roof of his Esmerelda wearing his Trump hat.... seriously I think El Homeport is now sunk....
They'll bring it back to life a few years up the road, after everyone has forgotten all the stolen money and what a disaster it was, Jerry.

These things have a mysterious way of reincarnating, after time erases all the initial flaws.
 

jerry

Well Known Member
They'll bring it back to life a few years up the road, after everyone has forgotten all the stolen money and what a disaster it was, Jerry.

These things have a mysterious way of reincarnating, after time erases all the initial flaws.
Pan/Pri local and state leadership will be in the back of the free stuff line ..,just how things go,
 
I want to do some real estate research. Are any of you currently in RP and a realtor or looking for something to do?
I need some help and my Spanish is sketchy. I am willing to pay for services rendered.
 
Thats pretty broad. What would be the scope of the RE Research?
Completed real estate transactions
If seller/buyer names are provided can I get a list of transactions or completed contracts under the name? Undeveloped Property or housing units? What is the proceedure in Mexico. I understand that it is not available online. Everything is held in a location in each community. Hand written.
 
I think Grant Mckenzie use to post on his website a sold report for the month. It listed sale price, sold price, how many days on market etc. But that was years ago when I was researching to buy a house. I looked at it regularly. Although last week I got an e-mail from someone that had a sold report of what sold in May. I looked at it then deleted it so I can't remember who it was from. I think if you contact a reputable agent there they could supply you with that info. It is available, because after I bought a house I got several "Congratulations" e-mails from other agents in Penasco. Good Luck with your research!
 
You do realize there is an MLS in PP. just Google AMPI Puerto Penasco. You won't find a sold report just listings, but a realtor could pull that. Not sure where you got the info that it is held in a location in each community and it is hand written??? Are you looking to buy and want to know what previous listings sold for? I couldn't find the sold report under Grants realtor page, but his son Brandon has a sold report, but I was unable to open it. But it did have where you can sign up for a FLXML to be sent to you.
 

jerry

Well Known Member
My bet is he is trying to see how many of the Esmeralda buyers were straw buyers.....in 2006 down by Santo Tomas the huge planned development Parayso clamed to have sold 50 200k plus lots...it was all a lie to lure in the marks
 

Roberto

Well Known Member
Any information like this you find in Penasco is generated by Realtors and is subject to all sorts of distortions. The so called MLS is created by and managed by the local realtor's association and is not an independent organization that verifies the accuracy of their reports as in the US. It is a variant of the Point 2 system available to anyone to establish a "real estate sales company". Google it and see. Fox guarding the henhouse comes to mind. There have been several serious episodes of fraud and misuse of the so called AMPI MLS system with no action taken by the association. Reporting sales and activity is completely a voluntary system and in fact bears little resemblance to reality.

Yes, Licenses are issued in Sonora but there is little to no enforcement. You will see reference to a Broker but this is a title offered by the Real Estate agency and has no legal definition or responsibility, it is usually the named owner on the required Mexican corporation papers. AMPI has absolutely no legal position in terms of enforcement. It is mainly a fraternal organization in Mexico, used as a sales tool here in Penasco. Local realtors have created the idea that it is a Board of Realtors, US style. It is not. They have some responsibility granted by the State of Sonora to oversee the testing procedure for licensing but they do not issue licenses and do not have the power to revoke one. I am unaware of anyone ever failing to obtain a license. There still may not be an actual comprehensive test, attendance was all that was required for years. You could sleep through the sessions with no consequences. The license is used as a sales tool.

At what point a property is publicly reported as Sold is unclear and up to the realtor, there is no independent agency tracking this system or information. An agency that wants to show lots of sales may declare the property sold when a deposit check is passed. Under Contract is probably a more accurate description. The fact is the property is not actually sold and transferred until the bank trust or Fidecomiso is issued and registered, a process that can take years to complete and just one reason that bank financing is unavailable here. It may be 'hand written' at the Registry at that point. At the juncture in the process that the Notario examines and certifies the required paperwork and issues a letter of instructions to the bank the sale may be considered a legal sale for transfer.

Many so called sales never result in an actual transfer of ownership because the supporting paperwork is not available or provided to the Notario. Meanwhile the sales commission has been paid and is never refunded. In general when the Notario issues a request to the bank for a Fidecomisso, the sale is good but the bank can take years to process and issue the Fidecomisso.

Escrow means the check goes into the realtors checking account and not to a licensed, bonded independent professional agency. Actual millions of dollars have been stolen by so called Escrow Companies, Closing agents and realtors over the years. Buyers should be aware that they can and should pay all necessary fees and taxes directly not passed through a third party. This is a simple process and is risky to permit a third party to have access to these costs. The Notary will require evidence of payment but collects only their direct fees. Question the costs.

Real estate transfers in Mexico must be accomplished by a Notario who certifies that the property in fact is owned by the seller and can be, and is, legally sold and transferred by Fidecomiso or Mexican title to a specified buyer and that all legally required fees and taxes are paid. The process in NOT the same as in the US and any buyer should take the time to educate themselves about the process. Talk to the Noratio not an agent or so called Broker. Ignorance of the process has supported and created the massive fraud that has occurred over the years. Why someone would transfer huge sums of money on the basis of an unenforceable, worthless piece of paper is beyond me. They would not do it in the US but have done it here.
 
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JimMcG

Well Known Member
Any information like this you find in Penasco is generated by Realtors and is subject to all sorts of distortions. The so called MLS is created by and managed by the local realtor's association and is not an independent organization that verifies the accuracy of their reports as in the US. It is a variant of the Point 2 system available to anyone to establish a "real estate sales company". Google it and see. Fox guarding the henhouse comes to mind. There have been several serious episodes of fraud and misuse of the so called AMPI MLS system with no action taken by the association. Reporting sales and activity is completely a voluntary system and in fact bears little resemblance to reality.

Yes, Licenses are issued in Sonora but there is little to no enforcement. You will see reference to a Broker but this is a title offered by the Real Estate agency and has no legal definition or responsibility, it is usually the named owner on the required Mexican corporation papers. AMPI has absolutely no legal position in terms of enforcement. It is mainly a fraternal organization in Mexico, used as a sales tool here in Penasco. Local realtors have created the idea that it is a Board of Realtors, US style. It is not. They have some responsibility granted by the State of Sonora to oversee the testing procedure for licensing but they do not issue licenses and do not have the power to revoke one. I am unaware of anyone ever failing to obtain a license. There still may not be an actual comprehensive test, attendance was all that was required for years. You could sleep through the sessions with no consequences. The license is used as a sales tool.

At what point a property is publicly reported as Sold is unclear and up to the realtor, there is no independent agency tracking this system or information. An agency that wants to show lots of sales may declare the property sold when a deposit check is passed. Under Contract is probably a more accurate description. The fact is the property is not actually sold and transferred until the bank trust or Fidecomiso is issued and registered, a process that can take years to complete and just one reason that bank financing is unavailable here. It may be 'hand written' at the Registry at that point. At the juncture in the process that the Notario examines and certifies the required paperwork and issues a letter of instructions to the bank the sale may be considered a legal sale for transfer.

Many so called sales never result in an actual transfer of ownership because the supporting paperwork is not available or provided to the Notario. Meanwhile the sales commission has been paid and is never refunded. In general when the Notario issues a request to the bank for a Fidecomisso, the sale is good but the bank can take years to process and issue the Fidecomisso.

Escrow means the check goes into the realtors checking account and not to a licensed, bonded independent professional agency. Actual millions of dollars have been stolen by so called Escrow Companies, Closing agents and realtors over the years. Buyers should be aware that they can and should pay all necessary fees and taxes directly not passed through a third party. This is a simple process and is risky to permit a third party to have access to these costs. The Notary will require evidence of payment but collects only their direct fees. Question the costs.

Real estate transfers in Mexico must be accomplished by a Notario who certifies that the property in fact is owned by the seller and can be, and is, legally sold and transferred by Fidecomiso or Mexican title to a specified buyer and that all legally required fees and taxes are paid. The process in NOT the same as in the US and any buyer should take the time to educate themselves about the process. Talk to the Noratio not an agent or so called Broker. Ignorance of the process has supported and created the massive fraud that has occurred over the years. Why someone would transfer huge sums of money on the basis of an unenforceable, worthless piece of paper is beyond me. They would not do it in the US but have done it here.
Very informative, Roberto if not downright scary. Thanks.
 

Roberto

Well Known Member
That's the tip of the iceberg. Volumes could be written about the history of real estate fraud in Penasco. In fairness to all parties often the buyer is stricken with greed and chooses to ignore obvious signs and warnings in the hope of obscene profits. Recall " If it's too good to be true it probably is not true". A lot of the publicized problems in the Baja resulted from buyers taking advantage of cheap prices with little or no paperwork. Often Ejido land was 'sold' on a handshake.

Some time ago I visited at length with a US citizen gent who had a beachfront in San Jorge that he wanted to sell. He reported he 'bought' the land many years ago and built a large beautiful home on it. He did not have a title, or a Fidecomisso but he said, and I quote: "I have a piece of paper somewhere".

All that said but yes you can buy and own real estate in Mexico and it's not so difficult. Time consuming, confusing and maybe expensive in transfer costs, but you can buy and legally own it. It is extremely useful and important to speak Spanish well or to hire an independent licensed interpreter and not one of the guys hanging around the Malecon !
 
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