Process of buying real estate in puerto Penasco

#1
We’re a young family wanting to purchase a small vacant lot or cheap home in Puerto Penasco . My husband and I are humble enough to rub elbows with the common and work hard enough to laugh at jokes with the rich . Seeking a knowledgeable English/Spanish speaking realtor
 

joanC

Active Member
#5
We’re a young family wanting to purchase a small vacant lot or cheap home in Puerto Penasco . My husband and I are humble enough to rub elbows with the common and work hard enough to laugh at jokes with the rich . Seeking a knowledgeable English/Spanish speaking realtor
We have a few lots we should sell, and will consider carrying financing. If you provide an email address or phone number I can send you the details.
 

RP Life

Junior Member
#6
We’re a young family wanting to purchase a small vacant lot or cheap home in Puerto Penasco . My husband and I are humble enough to rub elbows with the common and work hard enough to laugh at jokes with the rich . Seeking a knowledgeable English/Spanish speaking realtor
If you really want to get a great deal search the MLS for properties you like and drive by and have a look. If you like the house and area and would like to see it THEN CONTACT THE LISTING AGENT (reason for this is because they are the listing agent and they won't need to split their commission so they are more willing to make an offer at a lower price). Use the MLS here it has almost everything that is available https://puertopenascoampi.com/search/?url=http://link.flexmls.com/12gmr1896agy,12 and the majority of listings have been for sale for about 4 years or more they just pull the listing and relist so it shows as new. The condos have a higher turnover so listings may be new. The HOA for all condos and some housing development are high so you may want to check.

The agents here do not have the same code of ethics as in the USA because this is Mexico where they can get away with anything REMEMBER THAT. They are about lining their pockets at your expense, they will always try and sell you a condo or an expensive house that they currently have as a listing because they will make the most commission from being high priced and don't like showing other realtors listings. If they do show you another realtors listing they will tell you your offer price will not be accepted without even submitting it. Then there is the bait and switch on cheap land they will have a banner showing lots for cheap when you get in the office its no longer available and they forgot to take down the sign then try to show you some other expensive lots.

I will wait for some of the realtors to attack me before I start listing the actual realtors and what happened where and when.
So realtors if you don't know who I am I suggest you leave me be because you may be one of the guilty ones that I still have your business card.
 

Roberto

Well Known Member
#8
We’re a young family wanting to purchase a small vacant lot or cheap home in Puerto Penasco . My husband and I are humble enough to rub elbows with the common and work hard enough to laugh at jokes with the rich . Seeking a knowledgeable English/Spanish speaking realtor
In addition to RP Life's comments:
From the tenor of your inquiry you are thinking a small inexpensive place in one of the neighborhoods?? Most homes that I suspect fit your criterion will be owned by a local Mexican. By and large locals do not use a Realtor to sell property. They find the notion of paying 6% ridiculous. If I am correct, you will not find what you seek on the MLS or any agencies web site. If you drive around the barrios you will see signs on property "SE Vende", Occasionally there will also be a phone number. If the seller does not speak english he or she will have someone that does, neighbor, friend, relative.

Now the cautions:
Never pass the money until the possibility of a sale is approved by a Notario. Never... this is irrespective of how the land is held. You will have to Pay the Notario to establish this. This applies irrespective of who owns the property but there are special considerations if the property is owned by a Mexican.

You have to establish that the person who is offering the land for sale is the person named on the Title and that the property can be sold. Is the property offered by the seller the same property listed on the title at the registry? To change the registered owner of a titled property requires a fee to the local registry and often Families neglect this step. So when Tio Roberto passes away and 'gives' the property to a son, unless the son takes the legal steps to transfer ownership, the Titilo, into his name at the Registry the son cannot sell the property until he effects the transfer and gets a Titilo in his name. This transfer costs somewhere in the neighborhood of $100 and 'everyone' knows he 'owns it' so why spend the $100 at the registry?? There are probably additional costs for a Notario to effect this transfer. That is a significant amount of money to the average Mexican family,

In addition many properties cannot be sold outside of the original family that was granted the land. That is just the first sale. I do not believe there is any Ejido land within the city but there is a lot outside of town and land that is part of Ejido cannot be sold.

If there are people living illegally on the land, squatters, forget about it.

So what to do? Get a copy of the Title. Take that and the seller to a Notario and present the offer to buy. The Notario will certify that the sale can take place after checking all the relevant parameters. You will have to pay for this whether the property is declared sellable or not.

You can see the process can be lengthy, expensive and confusing. Since the sale price might be low local Realtors do not want to bother managing all the stuff necessary for a small fee when they can work ona $200,000 property. Understandable from a business standpoint.

As you probably know, unless your or your spouse holds citizenship in Mexico you will be required to Pay for a Fidiecomisso or Bank Trust to legally hold real estate close to the sea or the border in Mexico. Irrespective or what you might be told, there is NO other way you can legally own the property in these locals. . Cost of a bank trust depends on several factors but will range from $6,000 and up. Don't be tempted by a 'Private Sale' or "Trusted Friend" because you will not own anything,

My ex wife was a Mexican from Kino. There was a lot for sale next to her grandfather that was very inexpensive. Problem was the title was in the name of a long gone great uncle. EVERYONE in KIno knew that the property was 'owned' by the seller. No problem I was assured. We got a copy of the title and took it to a Notario who said he could effect the sale but it would cost 10 times the sale price to get a title in Anna's name! In a case like this every relative descendant of the long gone uncle had to be located and sign off, same as in the US.
 
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joanC

Active Member
#10
If you really want to get a great deal search the MLS for properties you like and drive by and have a look. If you like the house and area and would like to see it THEN CONTACT THE LISTING AGENT (reason for this is because they are the listing agent and they won't need to split their commission so they are more willing to make an offer at a lower price). Use the MLS here it has almost everything that is available https://puertopenascoampi.com/search/?url=http://link.flexmls.com/12gmr1896agy,12 and the majority of listings have been for sale for about 4 years or more they just pull the listing and relist so it shows as new. The condos have a higher turnover so listings may be new. The HOA for all condos and some housing development are high so you may want to check.

The agents here do not have the same code of ethics as in the USA because this is Mexico where they can get away with anything REMEMBER THAT. They are about lining their pockets at your expense, they will always try and sell you a condo or an expensive house that they currently have as a listing because they will make the most commission from being high priced and don't like showing other realtors listings. If they do show you another realtors listing they will tell you your offer price will not be accepted without even submitting it. Then there is the bait and switch on cheap land they will have a banner showing lots for cheap when you get in the office its no longer available and they forgot to take down the sign then try to show you some other expensive lots.

I will wait for some of the realtors to attack me before I start listing the actual realtors and what happened where and when.
So realtors if you don't know who I am I suggest you leave me be because you may be one of the guilty ones that I still have your business card.
Fortunately there are a good n
If you really want to get a great deal search the MLS for properties you like and drive by and have a look. If you like the house and area and would like to see it THEN CONTACT THE LISTING AGENT (reason for this is because they are the listing agent and they won't need to split their commission so they are more willing to make an offer at a lower price). Use the MLS here it has almost everything that is available https://puertopenascoampi.com/search/?url=http://link.flexmls.com/12gmr1896agy,12 and the majority of listings have been for sale for about 4 years or more they just pull the listing and relist so it shows as new. The condos have a higher turnover so listings may be new. The HOA for all condos and some housing development are high so you may want to check.

The agents here do not have the same code of ethics as in the USA because this is Mexico where they can get away with anything REMEMBER THAT. They are about lining their pockets at your expense, they will always try and sell you a condo or an expensive house that they currently have as a listing because they will make the most commission from being high priced and don't like showing other realtors listings. If they do show you another realtors listing they will tell you your offer price will not be accepted without even submitting it. Then there is the bait and switch on cheap land they will have a banner showing lots for cheap when you get in the office its no longer available and they forgot to take down the sign then try to show you some other expensive lots.

I will wait for some of the realtors to attack me before I start listing the actual realtors and what happened where and when.
So realtors if you don't know who I am I suggest you leave me be because you may be one of the guilty ones that I still have your business card.
We have dealt with a good number of realtors both buying and selling, and have not encountered anything like this.
 

RP Life

Junior Member
#11
Fortunately there are a good n


We have dealt with a good number of realtors both buying and selling, and have not encountered anything like this.
Well you are one of the lucky ones. I have names of several realtors all from different companies that I had the same issue with so eventually I said forget them I will write my own offers and email direct to the listing agents and every one was willing to make a deal at my price. I picked the best value for money to purchased. To this day the others are still listed for sale and this is 4 years now.
 

joanC

Active Member
#12
Well you are one of the lucky ones. I have names of several realtors all from different companies that I had the same issue with so eventually I said forget them I will write my own offers and email direct to the listing agents and every one was willing to make a deal at my price. I picked the best value for money to purchased. To this day the others are still listed for sale and this is 4 years now.
You have found a way to keep them honest. Thanks for sharing.

One thing to ensure is that the person fronting the property to you is a licensed realtor, and not just a "bird-dog" promoting any number of realtors' listings hoping to scare up a finders fee.
 
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