one thing that I have never done is bought a little house there because it has been my understanding that you can only lease not own...Now this company has told me," that you can buy "in El Dorado Ranch, "home sites" for sale....MMMMM help me can you buy in Mexico and be a US Citizen or only LEASE and they are two different things I am aware of both.....El Dorado Ranch is located between Mexicali and San felipe. And I know that there are coperation loop hole too, Don't want that. I want to take my money and buy the word is " BUY"
2006-08-13 12:23:02 · 6 answers · asked by MissChatea 4 in Business & Finance ➔ Renting & Real Estate
To be sure, request a public report. This will inform you of what you have and do not have.
Ask for three references that purchased one of their home sites. Call these folks and see if they can shed any light on after the sale support.
Remember, Mexico is not subject to U.S. laws. Buyer beware!
2006-08-13 12:52:06 · answer #1 · answered by Nick R 3 · 0⤊ 1⤋
I don't know were you live but if you have access to the L.A. Times there are always lisiting for property in Mexico-- the laws have change.. As far as corruption in Mexico when it comes to real estate there no more corruption there than th USA
Outside the US
Mexico is growing in popularity as a place to buy real estate as the country recently changed their laws to allow foreigners to own property. Many Americans, Canadians, and Europeans are buying property in Mexico for the discounted prices compared to the States. There are numerous master planned communities just beginning to emerge in Mexico as developers are going south of the border to take advantage of the change in laws. Some communities are starting from the ground up with amenities to cater specifically to Americans, for example www.loretobay.com. American companies such as Wal-Mart, Costco, numerous fast food chains are already in Mexico, with more companies planning to expand there. In addition, American based title companies are insuring properties as well as mortgage loans are available to Americans which previously were unattainable. The area to look at is the Baja part of Mexico below San Diego. The climate is very similar to San Diego. As the trend of Baby-boomers looking for retirement homes continues to increase, the amount of American investment into Mexico will increase as well.
you can reach me at leecharles06@comcast.net
I am a investor
2006-08-13 12:57:58 · answer #2 · answered by spechome2006 1 · 1⤊ 0⤋
The only thing I can tell you is I am an agent. All of my co-workers in the office own property and several houses in Mexico, except me. And yes they are beach front property also. ( Rocky Point ) for an example. They say prices are on the rise there.
2006-08-14 01:03:44 · answer #3 · answered by Anonymous · 1⤊ 0⤋
I believe as a US citizen you can own proprty in Mexico as long as it is not beach front property. However, Mexico is so unstable and corrupt that it's just as likely that you would lose your proprety at some time in the future.
2006-08-13 12:29:47 · answer #4 · answered by ceprn 6 · 0⤊ 0⤋
You cannot own property in Mexico unless you're a citizen. So, that's a scam or one with a big loop hole.
2006-08-13 12:27:01 · answer #5 · answered by Private Account 5 · 1⤊ 1⤋
Trust you instincts on this one. Run and don't look back. If you have money to spend, I know an attorney that would gladly take a nonrefundable retainer from you.
2006-08-13 15:22:01 · answer #6 · answered by Carl 7 · 0⤊ 1⤋