Buyer beware

Discussion in 'Real Estate' started by Roberto, Jul 16, 2017.

  1. Roberto

    Roberto Well-Known Member

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    If true the types of fraud experienced in Penasco appear in other areas of Mexico. Seems that the troublesome Bank Trust may actually be a protection from this type of fraud as the processing by a Notary should prevent this stuff. Assuming that a Notorio is consulted before payment is made. I believe a Notorio is required all over Mexico to process real estate sales. Anyone know for sure?

    http://mexiconewsdaily.com/opinion/no-pesky-regulations-means-buyer-beware/
     
  2. jerry

    jerry Well-Known Member

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    oh crap!!!!!

    My clients were unaccustomed to the vagaries of Mexico thus they could not comprehend how a house could be sold twice. My conscience required me to be honest, so I responded with, “Well, that’s twice that we know of, there could be other casualties of this gambit.”

    Later that year, in the same development, I learned about a fifth-story penthouse in a four-story building that had been sold for a shamefully high price.
     
  3. Landshark

    Landshark Well-Known Member

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    In a kind of twisted way you've got to hand it to a guy that can sell a fifth-story penthouse in a four story building. Freaking unbelievable! He could probably sell a beach house on the moon!
     
  4. jerry

    jerry Well-Known Member

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    funny you would mention that...a last minute opportunity awaits you...on the moon!
     
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  5. Landshark

    Landshark Well-Known Member

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    The view would be out of this world!
     
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  6. Roberto

    Roberto Well-Known Member

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  7. jerry

    jerry Well-Known Member

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    good comments too.... The real issue is now that you finally built it,enjoyed the heck out of it for 10 or 20 years can you actually sell it for more than you paid to build it? Right now I believe the answer is no...
     
  8. Landshark

    Landshark Well-Known Member

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    Because of lack of real estate appreciation or because the damn house is falling down?
     
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  9. Jungle Jim

    Jungle Jim Well-Known Member

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    Good article Roberto........

    I will never forget although I'd sure like to, my first stay at Puerto Penasco's first "World Class" high rise timeshare/luxury hotel then known as The Plaza Las Glorias. You know, the joint across the street from South Side Jill's.

    That was back in the 90's when PP still shut down the electricity every night around nine or ten. The hotel had it's own huge diesel generator sitting outside in front of the hotel as a kind of advertisement to the world that "we do have our own power 24/7".

    So after a long drive from Yuma we got to the Plaza, checked in with all the fluff and bullshit to include valet parking, luggage carts, cutie Mexican chickies, colored wrist bands and adnauseam to the limit. All free, due to my bud and his wife had just bought in to the joint and were setting me up as a potential buyer.

    So I go up to my third floor room, turn on the water in the beautiful tiled shower stall big enough for a roomy foursome, strip down and step in. The next thing on my blurry mind is where am I, am I dreaming, why am I on the cold floor soaked, naked and staring at the ceiling? I've got a bump on my head the size of a baseball and there's blood pouring from my nose. I crawl over to the phone, called the front desk to come up and help me. At first I though I'd been mugged considering my injuries. But as I sat there on the floor I could still feel the buzzing in my muscles of an electric shock.

    The posse arrives at the door, help me to my feet and onto the bed and one of the security guys notices the the shower is still running. I watch him walk over to it and lean in to turn off the knob. The instant he touches it he is tossed out of the stall like a rag doll and barely is able to keep standing. He screams to his compadres to get someone to shut down el generador. More people arrive to include the Fire Department, Cruz Rojo, my friends, the hotel manager, and more. All this time I'm still laying on the bed with just a bath towel wrapped around me.

    So, when all is said and done they get me another room and tell me lo siento Senior but someone had grounded the diesel generator and the electric water pump to the plumbing system in the hotel!! Holy shit Batman, someone didn't make it to the electricians class when they talked about basic GROUNDING PROCEDURES!

    My head still rings from that event.

    Oh well, la sabor de Mehico!

    JJ
     
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  10. brokenwave

    brokenwave Well-Known Member

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    It really depends on who did the construction/renovations. In Mexico you have good skilled people and not so skilled (US also has this issue)
    .
    In the late 80's I had my modest 1st house built by Danny Brown in Cholla, as it was being built over 6 months my best friend who worked for
    Shea homes remarked that how it was being built would never pass code in AZ and he didn't see how it would last more than 20 years.

    Well surprise, surprise, it's been over 27 years and it's still standing after 2 hurricanes, a couple of water spouts, earth quakes, high temps and humidity
    in the summer and pipe busting cold in the winter, plus the relentless wind and ocean spray in the air.

    The workers in many places in Mexico are very skilled with concrete/block work, carpentry, electrical and etc.
    They can do nice work with a minimum of tools and supplies and are very creative.
    Just be aware of the crooks and scammers.

    I would have skilled workers I know in RP do work for me any day if I was doing another project anywhere.
    I like that their skills are being passed down the the younger people.
    Too bad in the US that construction skills aren't being taught to our younger people like in Mexico.

    I also like how Mexicans can make do like using a coin for a fuse, OK maybe not such a great idea safety wise.
     
  11. JimMcG

    JimMcG Well-Known Member

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    As in the US where a large part of the construction workforce is also Mexican, supervision is the key to a good quality, finished house wherever you are.
     
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  12. Roberto

    Roberto Well-Known Member

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    Home on the beach next door is undergoing some renovation. I can hear and feel, the almost constant pounding of the big hammers breaking concrete walls. Now thinking of the effect on the structure from all that vibration as described in the article. Use of a concrete cutting power saw seems unheard of.
     
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  13. Terry C

    Terry C Well-Known Member

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    It'a always amazed me how they do block walls, stucco them and then come back a break the wall to install the tubes for electric wiring.
     

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