Real Estate in Mexico

[orchardm1]

Michelle you are a wealth of information

Do these laws also apply to British Citizens??

[CancunHeart]

Thanks Michelle , You offer a wealth of knowledge. Here is one for you , jaja...... I am married to a Mexican man, I am American, we recently purchased land outside of Acapulco , and it was titled in his name alone( because I didnt know how it would affect me) . Does that affect my taxes here in US anyway? And, I want to add or just subsitute my name for his , what would that do ? Can I as a wife of a mexican own beach land in my name alone ? We will also be moving back to Cancun area to live in June of 2008 . And a short visit to cancun area sept 6 thru 14 this year. Thanks Jennifer
PS. Holla out to the ravens fanBillwarm , im in Baltimore...

[Michele]

I'll find out and get back to you ASAP!!

[TAPPY]

Michele - any new pics of the condos you all are building ???

[Michele]

Thanks for asking! Check it out here. http://www.buyplaya.com/Listing/View...stingid=885177

[TAPPY]

Originally Posted by Michele

Thanks for asking! Check it out here. http://www.buyplaya.com/Listing/View...stingid=885177

It is stunning....I wish I could retire there !!!

[jasmac@shaw.ca]

Wow Michelle the info is great. Is it any different for a canadian to purchace?

[nng88]

edit

[Michele]

Originally Posted by jasmac@shaw.ca

Wow Michelle the info is great. Is it any different for a canadian to purchace?

First, sorry for the delay. We are on holiday in the states. No, the purchase procedure is the same for Canadians.

[Rissask]

I have this link saved to my favourites from years ago.



But it is dated 2003. Anyone know of an online 'buying real estate' type of guide that has newer or more accurate information?

Or is this still fairly accurate?

We are hemming and hawing trying to decide whether to buy an investment condo right now or not (not in Playa area).

[Michele]

Originally Posted by Rissask

I have this link saved to my favourites from years ago.



But it is dated 2003. Anyone know of an online 'buying real estate' type of guide that has newer or more accurate information?

Or is this still fairly accurate?

We are hemming and hawing trying to decide whether to buy an investment condo right now or not (not in Playa area).

Rob and I will review it and let you know. I have not found a more comprehensive update or comparable source of info yet.

[Rissask]

Originally Posted by Michele

Rob and I will review it and let you know. I have not found a more comprehensive update or comparable source of info yet.

Thanks so much Michele and Rob- you rock!

[vetdrm]

Originally Posted by Rissask

Thanks so much Michele and Rob- you rock!

Thanks to you as well Rissask for this informative link (and Michele/Rob for reviewing.)

Very enlightening. We bought some property last year after extensive research and have learned a few things from this article. Of special interest was the overall formal manner in which to conduct business. Helps to explain a few situations we've run into which probably could have been handled better on our end.

[Rissask]

Originally Posted by vetdrm

Thanks to you as well Rissask for this informative link (and Michele/Rob for reviewing.)

Very enlightening. We bought some property last year after extensive research and have learned a few things from this article. Of special interest was the overall formal manner in which to conduct business. Helps to explain a few situations we've run into which probably could have been handled better on our end.

hey, that is good to hear, and you are welcome.

[Geoff]

On the General forum, there is a thread on FM3's and capital gains when selling property. On one post, a link to "La Paz real estate" or some such site presents the following alternative to reduce the capital gains payable by narrowing the gap between value paid and the sale price. This is the first I have seen of this approach. Does anybody know if this is still valid or practicable?


"The other option which is necessary if you are selling a property to bring the value registered in Public Registry to the actual value (Which is to re evaluate the property and bring it up to the sales price) by (this is done with an architect) registering the actual value or market value in the public registry and receiving a document called “manifestacion de construccion” this document when submitted in a closing of the sale of your property will eliminate the capital gain if the value in the document and the sales value are the same, This is an easy process and necessary in most sales as most foreign owned property registered value is way below the actual sales value This is done during “escrow” and is very inexpensive compared to paying capital gains the fees to do this can vary an architect will charge a fee for the paperwork involved and the licenses and permits with public works Costs are from 1500 US to 3500 US depending on the value you are registering."