05-06-2012
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#1 (permalink) |
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sandflea
Join Date: Feb 2012
Location: Kansas City
Posts: 4
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Real Estate Transactions
Hi everyone,
My wife and I just completed our purchase of a new condo in Playa Del Carmen and I wanted to recommend Deanna Strong if anyone is looking for a great agent with tons of personal service. Deanna held our hand thoughout the entire process and we couldn't recommend her more highly. I also wanted to thank Ivan Castillo at Stewart Title for all of his help and explaining everything about the transaction, he was highly professional and very flexible when it came to scheduleing everything for us. |
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05-06-2012
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#2 (permalink) |
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way into it
Join Date: Mar 2012
Location: New York
Posts: 200
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Congratulations on your purchase in the best place in the world ( to my wife and I )
We are in contract to purchase a condo , but was told title insurance was not needed as everything has to go thru a notary to make sure everything is legit Was I misinformed , I guess is not too late to have title insurance ordered Any take on this Any help would be greatly appreciated |
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05-06-2012
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#3 (permalink) | |
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aņejo
Join Date: Nov 2004
Location: Latitude 20.6274 Longitude 87.0799
Posts: 9,365
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Without a doubt, GET the title insurance. Best to use Stewart Title Co. |
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05-07-2012
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#6 (permalink) | |
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aņejo
Join Date: Dec 2004
Location: Far North Chicago Suburbs
Posts: 2,164
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05-07-2012
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#7 (permalink) | |
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life=playa
Join Date: Oct 2009
Posts: 666
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05-07-2012
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#8 (permalink) | |
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aņejo
Join Date: Nov 2004
Location: Latitude 20.6274 Longitude 87.0799
Posts: 9,365
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Quote:
 for someone to collect money from their title insurance policy.I would think that Stewart Title, if they are doing their title searches properly  , would never have to pay out on the title insurance policies that they issue.We will see if anyone responds. |
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05-08-2012
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#9 (permalink) |
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way into it
Join Date: Oct 2005
Location: Minnesota Snowbird
Posts: 177
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The explanations for purchasing title insurance are innumerable and it has nothing to do with them doing their searches correctly! After 35 years in mortgage banking, title insurance and real estate I can tell you I always purchase an owners policy in the US so there certainly is no way I would not purchase it in Mexico! P.S. NO A MORTGAGE POLICY DOES NOT COVER YOU, nor does it cover your equity!
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05-08-2012
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#10 (permalink) | |
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aņejo
Join Date: Apr 2002
Location: Silicon Valley, California
Posts: 5,312
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05-08-2012
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#12 (permalink) |
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very sparkly
Join Date: Nov 2009
Location: Playa Del Carmen
Posts: 27
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Title Insurance
I also agree with using Ivan Castillo. I use him for all my closings and he is a trustworthy and a great guy. As for title insurance it depends on the property that you are buying and you. If it makes you feel a lot more comfortable in buying a property in a foreign country then spend the extra few thousand and get the title insurance. It is a nice piece of mind. But many of the properties that are available out here the title insurance is really not needed. If I was buying a piece of land, I would do it for sure. By using Ivan for your closing he will be able to advise you on wheather the title insurance is needed for each specific property.
Enjoy your new condo!!! |
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05-08-2012
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#13 (permalink) |
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sandflea
Join Date: Feb 2012
Location: Kansas City
Posts: 4
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Our situation was a little different than most in that the complex is new but the builder already had the Fedecomiso in hand. A number of the other new residents had run title serches and it always comes up as our builder owning the property. Like Jason said, if it is raw land I would definately get the insurance but on property already built you have to know what your cofort level is.
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05-09-2012
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#15 (permalink) | |
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aņejo
Join Date: Apr 2002
Location: Silicon Valley, California
Posts: 5,312
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