# Immigrating to Mexico



## judithb (Jan 9, 2009)

We are in the process of considering possible immigration to Mexico - we will be visiting Mexico in March/April this year once again, with the intention of exploring a different region.

We would appreciate advice in regard to the following:

Immigration - besides using lawyers/visiting Mexican consulate, are there any suggestions? And what pitfalls should we be aware of?

We like coastal living - Any suggestions ? east or west & why?

It is our intention to invest in commercial/residential property, in order to earn a living 

look forward to your responses

regards
judithb


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## sparks (Jun 17, 2007)

Much of the west coast is over built for vacation rentals and is not helped by the current economy. Prices have not dropped yet but may in the future. Where you are and what you offer would be critical. Look for an extended period and really get to know the area


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## RVGRINGO (May 16, 2007)

Have you spent any appreciable time in the area of interest, preferably a whole year? You should do that before you consider investment. You will not 'immigrate' until you have spent many years as a visitor or resident on an FM3 or FM2 visa, either of which will require you to prove income from abroad.


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## Rodrigo84 (Mar 5, 2008)

The current economy as the other fine members mentioned is not helping things. Hotels have had to drop their rates and any vacation rental prices have also come down. There really isn't a class of people that can afford to buy or rent properties in this economy. A lot of properties have sat dormant on the market for at least half a year or longer in coastal areas and often times (unlike hotel/rental prices) the sellers are VERY reluctant to lower their prices. Delusional thinking if you ask me.

However, there may be a narrow window at some time late next year or early 2010 when the market hopefully picks up here that prices will initially drop at the peak of this economic crisis (it's done yet in Mexico by a long shot) and then you can snap some of the properties up. I don't expect (because I have family that does stuff like this in Michoacan) that you will make a big profit in the short term, because the Mexican economy usually needs a much longer period of time to get rolling.

But right now, it's a very bad time.


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## brown241 (Jan 8, 2009)

On the thread of moving to Mexico, can anyone tell me how to get electricity in our name if we don't have the deed to our condo? What does it take to get electricity in one's name?


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## RVGRINGO (May 16, 2007)

Does, "our condo," mean that you own it and just haven't received the deed yet? If so, the sales contract should work. Your notario and/or real estate agents should be able to give you guidance.
If you are only renting, the electric bill will remain in the owner's name, even though you are probably the one who must make the regular payments. Ask for a copy of a bill, any month will do, and you can pay it at one of the automatic machines CFE provides for the purpose or you can simply show the top of the bill to the cashier and she will bring up the account on the computer and tell you the amount. Since bills often don't arrive, you will be wise to mark your calendar with the regular due date and pay the bill just before the cut-off date. Having the power cut off is not recommended; they may take a long time to restore it and it will be expensive.


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## brown241 (Jan 8, 2009)

RVGRINGO said:


> Does, "our condo," mean that you own it and just haven't received the deed yet? If so, the sales contract should work. Your notario and/or real estate agents should be able to give you guidance.
> If you are only renting, the electric bill will remain in the owner's name, even though you are probably the one who must make the regular payments. Ask for a copy of a bill, any month will do, and you can pay it at one of the automatic machines CFE provides for the purpose or you can simply show the top of the bill to the cashier and she will bring up the account on the computer and tell you the amount. Since bills often don't arrive, you will be wise to mark your calendar with the regular due date and pay the bill just before the cut-off date. Having the power cut off is not recommended; they may take a long time to restore it and it will be expensive.


The hiccup is, even though we have paid in full for the condo and have taken possession, (and have our sales contracts and paid receipts) they are just now trying to split up the electrical into meters (so the developer does not have to paid the bill any more). There are many condos in this complex that is still under construction. Many of us who have taken possession and have paid in full and are paying monthly maintenance dues have not been allowed to do any finalization with a notorio. We do not have any real estate agents left to help any of us out either. We are at the mercy of the developer who by the way is not purchaser friendly once he gets his money. We are afraid we will end up paying for electrical under the developer's name and not have an accounting for our individual electrical units. Our unit is in Nuevo Vallarta. Is there any on line services for the CFE that we could pay the bill from stateside? Your help is much appreciated.


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## RVGRINGO (May 16, 2007)

If you have not had a 'closing' with your notario, you don't own the condo yet. Once closing is completed, it will take the notario some time to register the deed and get you the completed original; however, you will have a copy of the 'escritura' and CFE will accept that.
If you are suspicious that you may be the victim of a scam, talk to YOUR notario; the one YOU had a right to choose for the transaction. You need legal adivice, in my opinion.


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## brown241 (Jan 8, 2009)

RVGRINGO said:


> If you have not had a 'closing' with your notario, you don't own the condo yet. Once closing is completed, it will take the notario some time to register the deed and get you the completed original; however, you will have a copy of the 'escritura' and CFE will accept that.
> If you are suspicious that you may be the victim of a scam, talk to YOUR notario; the one YOU had a right to choose for the transaction. You need legal adivice, in my opinion.


Unfortunately, we do not get to pick the Notorio, it is in our contract the developer choses the Notorio. Yes, we (as a group of condo purchasers) are looking into legal assistance. We don't have a deed, have never met with a notorio, even after 6 months after taking possession... the developer just keeps charging high maintenance fees with little or no services. We aren't even sure the is a Condominium Regime in place.

I didn't think we could get each individual accounts with the CFE because of not having "closed" on the units. I am afraid the electricity is just one more way for him to get more money from us.


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## RVGRINGO (May 16, 2007)

I'm very sure that Mexican law gives you, the buyer, the right to select the notario. You may be the victim of a scam and should seek advice from a notario of your choosing. Get some references first. You may also need lawyers to sue the developer. I don't have a good feeling about your situation & you do need to band together with other buyers in this matter and not sit around and wait to see what happens. One doesn't get 'possession' without a closing unless that is also in the contract. I can't believe that you would have paid in full and taken possession without a closing; that seems very, very foolish to me.
Good luck!


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## CDN Dreamer (Jan 18, 2009)

Try Acapulco. It is naturally beautiful, not prone to hurricanes and real estate is now a buyers market.



judithb said:


> We are in the process of considering possible immigration to Mexico - we will be visiting Mexico in March/April this year once again, with the intention of exploring a different region.
> 
> We would appreciate advice in regard to the following:
> 
> ...


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