Buying Condos & Homes in Mexico (real estate market, insurance, crime)

[AksarbeN]

Buying property in Mexico can have some negative side effects or worse a complete loss of your money. Buyer beware is a good rule of thumb and you should check everything out as best as possible before making a commitment. A local network tv investigator checks things out in the real estate market and it’s not good. The link below will take you to the ABC station in Phoenix. Once there at the website, click the link for the video about the dark side of Rocky Point.

The dark side of Rocky Point - Phoenix news, breaking news, local news, weather radar, traffic from ABC15 News | ABC15.com

The real estate market in the US is having problems and it would appear that parts of Mexico that are no different. There are good opportunities out there however there are also some scams, it would be well advised to look think and rethink these issues.

[hotornot]

San Diego ****'s Michael Turko once hosted a show that gave expert advice on how to buy real estate in Baja. It was broadcast over several nights. I did not see it. I only heard about it.

One vital key I heard Turko say was this: aquire a real estate attorney that practices on both sides of the border. One that has a license to practice in both countries. Of course, as we all know, you can lose your life savings in Baja. Caveat emptor. If you find an attorney who works both sides of the fence, assume nothing, check him out as thoroughly as possible.

I have yet to view the video below so I cannot attest to the quality of the content.

http://www.****.com/features/turko/6631007.html

Turko Files

"Wednesday, March 21, 2007 -- ****'s Michael Turko has shown us how you can get into real trouble trying to buy real estate south of the border, but now, Turko has the flip side of that story."

[sans]

If you buy from a reputable person and-or real estate professional, everything should be run through a notario. It is the notarios job to make sure the title is clear, it is not on ejido land and that the paperwork is in order. Also make sure you get title insurance, we use both Stewart Title and First American in our office.

[Beth56]

We have a friend who has owned property in Oaxaca, Mexico for over 20 years. He did everything right, but he has nothing but troubles. Now with all the crime and the drug cartel kidnappings and murders, he may have to walk away from his home. Something to think about. There are other ways of losing your home.