# Buying Property



## conklinwh (Dec 19, 2009)

I know that the coast and border are different and expect the following should be obvious but we have had two cases recently that certainly caused a lot of head shaking.
If you are buying property and before any cash changes hands, make sure you go to a notario and have them verify that seller has a valid escritura and that the escritura is registered with the municipio. Also that picture ID matches the name on the escritura. We have had two attempts recently where somebody thought that they had bought local landmarks and actually paid some cash, in one case a lot, upfront with no verification. 
This sort of equates to buying the Brooklyn Bridge, but certainly causes a lot of bad feelings as well as loss of deposit.


----------



## RVGRINGO (May 16, 2007)

That is excellent advice. Never make and offer with a deposit without going to a notario unless you are dealing with a reliable real estate office that will hold the deposit in escrow until closing on the property. Only a notario, who is a specially licensed attorney, can deal with real estate matters. They take care of the search and registry functions for the deed. On the coasts, or near the border, a bank trust is also a necessity.


----------



## conklinwh (Dec 19, 2009)

Two more things:
-I'd even be concerned with leaving a deposit until meeting with a notario and seeing the registered escritura. There is a scandal going on in San Miguel de Allende where deposits have disappeared from what were thought to be reputable firms. This also true in the US where some firms seem to have been doing personal Ponzi schemes, where they relied on new escrows to cover those they misappropriated. Then the housing crash, and no new escrows.
-If you hear the word 'conflicto', run for the hills. This especially true here in Pozos where as a municipality we were front and center in the Cristeros movement. As punishment, Pozos lost its municipio charter, but not before someone set fire to the town records.
Most things have been resolved but if you ask around, those parcels in 'conflicto' are pretty well known.
Expect that we are not unique.


----------



## carolmartinez (Feb 15, 2010)

Thanks for giving us nice advice. It is really useful for all and i think every body should know this before buying a property and we should know the value of money in this inflation period.Buying property is not only one of the biggest investments you'll make, but also one of the most exciting ones.:ranger:


----------



## conklinwh (Dec 19, 2009)

Unfortunately too many expats check their brains at the border.
Remember if it seems too good to be true, it probably is.
Also, always a good thing to sleep on it.


----------



## Intercasa (Sep 18, 2007)

Trust nobody. Also unfortunately many notarios don't want to talk to you until the very end, when it is too late and many are overworked and lazy and make mistakes and they don't take responsibility for their actions, you are on your own. Best to check things out beforehand and the best thing is to have an attorney draw up the agreement and check the title first.


----------



## johnmex (Nov 30, 2010)

Has anyone dealt with a company called Panoramica de Vallarta, SA de CV? I am interested in looking at their newest development near Guachimontones, but I am always leery about buying land here.


----------

