Comments on: Buying Baja New Construction- 9 Questions to Ask the Developer http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335 Information about living in Mexico and investing in Mexico real estate. Wed, 01 Feb 2012 01:25:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Barbara MacIsaac http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-41478 Barbara MacIsaac Mon, 22 Mar 2010 16:11:58 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-41478 We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we're not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you. We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we’re not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8277 Mario Restrepo Sat, 21 Mar 2009 04:26:48 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8277 Hi Chuck, I don't have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions. Of course I wish that all comes out to your satisfaction. I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area. Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment. Please pop in the office when you get a chance. Thanks for your willingness to share. Hi Chuck,

I don’t have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions.

Of course I wish that all comes out to your satisfaction.

I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area.

Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment.

Please pop in the office when you get a chance.

Thanks for your willingness to share.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8271 chuck medlin Sat, 21 Mar 2009 01:41:52 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8271 Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD. Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8270 chuck medlin Sat, 21 Mar 2009 01:32:33 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8270 Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn't have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due. Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say "should have happened". "Shame on them". You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title. Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn’t have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due.

Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say “should have happened”. “Shame on them”.

You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6719 Mario Restrepo Thu, 12 Feb 2009 04:15:32 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6719 Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don't have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton. I know you don't want to here lines like: "you should have," but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer. I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you. For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction. If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: <a href="http://wwww.bajaopenhouse.com" rel="nofollow">Baja Open House</a>. I am located in the Rosarito corridor. Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don’t have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton.

I know you don’t want to here lines like: “you should have,” but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer.

I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you.

For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction.

If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: Baja Open House. I am located in the Rosarito corridor.

]]> By: real estate questions? http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6714 real estate questions? Wed, 11 Feb 2009 23:07:49 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6714 It would seem pretty sketchy to buy a place down there isn't it scary to do? It would seem pretty sketchy to buy a place down there isn’t it scary to do?

]]> By: chcuk medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335 Information about living in Mexico and investing in Mexico real estate. Wed, 01 Feb 2012 01:25:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 Comments on: Buying Baja New Construction- 9 Questions to Ask the Developer http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335 Information about living in Mexico and investing in Mexico real estate. Wed, 01 Feb 2012 01:25:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Barbara MacIsaac http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-41478 Barbara MacIsaac Mon, 22 Mar 2010 16:11:58 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-41478 We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we're not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you. We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we’re not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8277 Mario Restrepo Sat, 21 Mar 2009 04:26:48 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8277 Hi Chuck, I don't have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions. Of course I wish that all comes out to your satisfaction. I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area. Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment. Please pop in the office when you get a chance. Thanks for your willingness to share. Hi Chuck,

I don’t have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions.

Of course I wish that all comes out to your satisfaction.

I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area.

Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment.

Please pop in the office when you get a chance.

Thanks for your willingness to share.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8271 chuck medlin Sat, 21 Mar 2009 01:41:52 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8271 Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD. Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8270 chuck medlin Sat, 21 Mar 2009 01:32:33 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8270 Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn't have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due. Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say "should have happened". "Shame on them". You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title. Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn’t have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due.

Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say “should have happened”. “Shame on them”.

You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6719 Mario Restrepo Thu, 12 Feb 2009 04:15:32 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6719 Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don't have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton. I know you don't want to here lines like: "you should have," but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer. I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you. For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction. If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: <a href="http://wwww.bajaopenhouse.com" rel="nofollow">Baja Open House</a>. I am located in the Rosarito corridor. Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don’t have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton.

I know you don’t want to here lines like: “you should have,” but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer.

I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you.

For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction.

If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: Baja Open House. I am located in the Rosarito corridor.

]]> By: real estate questions? http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6714 real estate questions? Wed, 11 Feb 2009 23:07:49 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6714 It would seem pretty sketchy to buy a place down there isn't it scary to do? It would seem pretty sketchy to buy a place down there isn’t it scary to do?

]]> By: chcuk medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-41478 Barbara MacIsaac Mon, 22 Mar 2010 16:11:58 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-41478 We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid $331,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we're not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you. We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid $331,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we’re not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you.

]]> Comments on: Buying Baja New Construction- 9 Questions to Ask the Developer http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335 Information about living in Mexico and investing in Mexico real estate. Wed, 01 Feb 2012 01:25:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Barbara MacIsaac http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-41478 Barbara MacIsaac Mon, 22 Mar 2010 16:11:58 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-41478 We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we're not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you. We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we’re not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8277 Mario Restrepo Sat, 21 Mar 2009 04:26:48 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8277 Hi Chuck, I don't have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions. Of course I wish that all comes out to your satisfaction. I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area. Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment. Please pop in the office when you get a chance. Thanks for your willingness to share. Hi Chuck,

I don’t have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions.

Of course I wish that all comes out to your satisfaction.

I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area.

Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment.

Please pop in the office when you get a chance.

Thanks for your willingness to share.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8271 chuck medlin Sat, 21 Mar 2009 01:41:52 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8271 Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD. Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8270 chuck medlin Sat, 21 Mar 2009 01:32:33 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8270 Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn't have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due. Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say "should have happened". "Shame on them". You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title. Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn’t have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due.

Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say “should have happened”. “Shame on them”.

You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6719 Mario Restrepo Thu, 12 Feb 2009 04:15:32 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6719 Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don't have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton. I know you don't want to here lines like: "you should have," but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer. I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you. For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction. If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: <a href="http://wwww.bajaopenhouse.com" rel="nofollow">Baja Open House</a>. I am located in the Rosarito corridor. Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don’t have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton.

I know you don’t want to here lines like: “you should have,” but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer.

I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you.

For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction.

If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: Baja Open House. I am located in the Rosarito corridor.

]]> By: real estate questions? http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6714 real estate questions? Wed, 11 Feb 2009 23:07:49 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6714 It would seem pretty sketchy to buy a place down there isn't it scary to do? It would seem pretty sketchy to buy a place down there isn’t it scary to do?

]]> By: chcuk medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8277 Mario Restrepo Sat, 21 Mar 2009 04:26:48 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8277 Hi Chuck, I don't have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions. Of course I wish that all comes out to your satisfaction. I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area. Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment. Please pop in the office when you get a chance. Thanks for your willingness to share. Hi Chuck,

I don’t have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions.

Of course I wish that all comes out to your satisfaction.

I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area.

Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment.

Please pop in the office when you get a chance.

Thanks for your willingness to share.

]]> Comments on: Buying Baja New Construction- 9 Questions to Ask the Developer http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335 Information about living in Mexico and investing in Mexico real estate. Wed, 01 Feb 2012 01:25:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Barbara MacIsaac http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-41478 Barbara MacIsaac Mon, 22 Mar 2010 16:11:58 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-41478 We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we're not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you. We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we’re not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8277 Mario Restrepo Sat, 21 Mar 2009 04:26:48 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8277 Hi Chuck, I don't have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions. Of course I wish that all comes out to your satisfaction. I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area. Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment. Please pop in the office when you get a chance. Thanks for your willingness to share. Hi Chuck,

I don’t have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions.

Of course I wish that all comes out to your satisfaction.

I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area.

Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment.

Please pop in the office when you get a chance.

Thanks for your willingness to share.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8271 chuck medlin Sat, 21 Mar 2009 01:41:52 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8271 Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD. Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8270 chuck medlin Sat, 21 Mar 2009 01:32:33 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8270 Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn't have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due. Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say "should have happened". "Shame on them". You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title. Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn’t have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due.

Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say “should have happened”. “Shame on them”.

You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6719 Mario Restrepo Thu, 12 Feb 2009 04:15:32 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6719 Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don't have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton. I know you don't want to here lines like: "you should have," but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer. I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you. For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction. If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: <a href="http://wwww.bajaopenhouse.com" rel="nofollow">Baja Open House</a>. I am located in the Rosarito corridor. Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don’t have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton.

I know you don’t want to here lines like: “you should have,” but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer.

I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you.

For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction.

If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: Baja Open House. I am located in the Rosarito corridor.

]]> By: real estate questions? http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6714 real estate questions? Wed, 11 Feb 2009 23:07:49 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6714 It would seem pretty sketchy to buy a place down there isn't it scary to do? It would seem pretty sketchy to buy a place down there isn’t it scary to do?

]]> By: chcuk medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8271 chuck medlin Sat, 21 Mar 2009 01:41:52 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8271 Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD. Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD.

]]> Comments on: Buying Baja New Construction- 9 Questions to Ask the Developer http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335 Information about living in Mexico and investing in Mexico real estate. Wed, 01 Feb 2012 01:25:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Barbara MacIsaac http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-41478 Barbara MacIsaac Mon, 22 Mar 2010 16:11:58 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-41478 We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we're not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you. We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we’re not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8277 Mario Restrepo Sat, 21 Mar 2009 04:26:48 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8277 Hi Chuck, I don't have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions. Of course I wish that all comes out to your satisfaction. I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area. Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment. Please pop in the office when you get a chance. Thanks for your willingness to share. Hi Chuck,

I don’t have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions.

Of course I wish that all comes out to your satisfaction.

I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area.

Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment.

Please pop in the office when you get a chance.

Thanks for your willingness to share.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8271 chuck medlin Sat, 21 Mar 2009 01:41:52 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8271 Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD. Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8270 chuck medlin Sat, 21 Mar 2009 01:32:33 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8270 Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn't have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due. Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say "should have happened". "Shame on them". You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title. Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn’t have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due.

Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say “should have happened”. “Shame on them”.

You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6719 Mario Restrepo Thu, 12 Feb 2009 04:15:32 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6719 Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don't have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton. I know you don't want to here lines like: "you should have," but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer. I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you. For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction. If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: <a href="http://wwww.bajaopenhouse.com" rel="nofollow">Baja Open House</a>. I am located in the Rosarito corridor. Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don’t have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton.

I know you don’t want to here lines like: “you should have,” but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer.

I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you.

For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction.

If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: Baja Open House. I am located in the Rosarito corridor.

]]> By: real estate questions? http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6714 real estate questions? Wed, 11 Feb 2009 23:07:49 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6714 It would seem pretty sketchy to buy a place down there isn't it scary to do? It would seem pretty sketchy to buy a place down there isn’t it scary to do?

]]> By: chcuk medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8270 chuck medlin Sat, 21 Mar 2009 01:32:33 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8270 Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn't have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due. Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say "should have happened". "Shame on them". You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title. Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn’t have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due.

Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say “should have happened”. “Shame on them”.

You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title.

]]> Comments on: Buying Baja New Construction- 9 Questions to Ask the Developer http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335 Information about living in Mexico and investing in Mexico real estate. Wed, 01 Feb 2012 01:25:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Barbara MacIsaac http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-41478 Barbara MacIsaac Mon, 22 Mar 2010 16:11:58 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-41478 We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we're not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you. We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we’re not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8277 Mario Restrepo Sat, 21 Mar 2009 04:26:48 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8277 Hi Chuck, I don't have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions. Of course I wish that all comes out to your satisfaction. I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area. Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment. Please pop in the office when you get a chance. Thanks for your willingness to share. Hi Chuck,

I don’t have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions.

Of course I wish that all comes out to your satisfaction.

I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area.

Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment.

Please pop in the office when you get a chance.

Thanks for your willingness to share.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8271 chuck medlin Sat, 21 Mar 2009 01:41:52 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8271 Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD. Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8270 chuck medlin Sat, 21 Mar 2009 01:32:33 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8270 Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn't have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due. Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say "should have happened". "Shame on them". You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title. Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn’t have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due.

Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say “should have happened”. “Shame on them”.

You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6719 Mario Restrepo Thu, 12 Feb 2009 04:15:32 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6719 Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don't have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton. I know you don't want to here lines like: "you should have," but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer. I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you. For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction. If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: <a href="http://wwww.bajaopenhouse.com" rel="nofollow">Baja Open House</a>. I am located in the Rosarito corridor. Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don’t have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton.

I know you don’t want to here lines like: “you should have,” but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer.

I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you.

For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction.

If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: Baja Open House. I am located in the Rosarito corridor.

]]> By: real estate questions? http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6714 real estate questions? Wed, 11 Feb 2009 23:07:49 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6714 It would seem pretty sketchy to buy a place down there isn't it scary to do? It would seem pretty sketchy to buy a place down there isn’t it scary to do?

]]> By: chcuk medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6719 Mario Restrepo Thu, 12 Feb 2009 04:15:32 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6719 Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don't have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton. I know you don't want to here lines like: "you should have," but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer. I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you. For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction. If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: <a href="http://wwww.bajaopenhouse.com" rel="nofollow">Baja Open House</a>. I am located in the Rosarito corridor. Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don’t have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton.

I know you don’t want to here lines like: “you should have,” but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer.

I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you.

For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction.

If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: Baja Open House. I am located in the Rosarito corridor.

]]> Comments on: Buying Baja New Construction- 9 Questions to Ask the Developer http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335 Information about living in Mexico and investing in Mexico real estate. Wed, 01 Feb 2012 01:25:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Barbara MacIsaac http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-41478 Barbara MacIsaac Mon, 22 Mar 2010 16:11:58 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-41478 We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we're not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you. We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we’re not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8277 Mario Restrepo Sat, 21 Mar 2009 04:26:48 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8277 Hi Chuck, I don't have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions. Of course I wish that all comes out to your satisfaction. I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area. Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment. Please pop in the office when you get a chance. Thanks for your willingness to share. Hi Chuck,

I don’t have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions.

Of course I wish that all comes out to your satisfaction.

I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area.

Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment.

Please pop in the office when you get a chance.

Thanks for your willingness to share.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8271 chuck medlin Sat, 21 Mar 2009 01:41:52 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8271 Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD. Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8270 chuck medlin Sat, 21 Mar 2009 01:32:33 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8270 Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn't have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due. Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say "should have happened". "Shame on them". You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title. Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn’t have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due.

Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say “should have happened”. “Shame on them”.

You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6719 Mario Restrepo Thu, 12 Feb 2009 04:15:32 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6719 Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don't have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton. I know you don't want to here lines like: "you should have," but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer. I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you. For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction. If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: <a href="http://wwww.bajaopenhouse.com" rel="nofollow">Baja Open House</a>. I am located in the Rosarito corridor. Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don’t have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton.

I know you don’t want to here lines like: “you should have,” but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer.

I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you.

For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction.

If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: Baja Open House. I am located in the Rosarito corridor.

]]> By: real estate questions? http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6714 real estate questions? Wed, 11 Feb 2009 23:07:49 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6714 It would seem pretty sketchy to buy a place down there isn't it scary to do? It would seem pretty sketchy to buy a place down there isn’t it scary to do?

]]> By: chcuk medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6714 real estate questions? Wed, 11 Feb 2009 23:07:49 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6714 It would seem pretty sketchy to buy a place down there isn't it scary to do? It would seem pretty sketchy to buy a place down there isn’t it scary to do?

]]> Comments on: Buying Baja New Construction- 9 Questions to Ask the Developer http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335 Information about living in Mexico and investing in Mexico real estate. Wed, 01 Feb 2012 01:25:15 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Barbara MacIsaac http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-41478 Barbara MacIsaac Mon, 22 Mar 2010 16:11:58 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-41478 We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we're not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you. We purchased a condominium in Baja over four years ago. Construction took over two years and we have been in two years ago last week. The complex was supposed to be 24 units with pool, spa, workout room, etc. To date, we have only 1 six story building with 12 units. We are in one of the penthouse units on the 6th floor and we are the only unit that has been sold. There has been NO elevator put in which means we have to climb 99 stairs several times per day. The exterior of the building has not been completed. Most floors are empty shells. During the recent severe rainstorms, the walls were blown off on several floors. The building looks like a total disaster! To make matters worse, we recently discovered that there is no insurance on the building. Our unit itself is beautiful. We paid 1,000 CASH and owe nothing on it. The builder left after completing the construction to date and went to work on another project in Tecate. Are there any laws about elevators needed in buildings over 3 stories? We have been told that there is a law relating to that as well as a law that states once you start constuction, the buildings, at a minimum, must be completed (less amenities). We are concerned that there is no insurance on the building. We recently came and the electricity in the building has been shut off. It was 11:30 PM and the stairwell was damp, slippery and extremely dark. It is a very dangerous situation and we know if we were to fall, we would be in dire straights. Do you know of any laws that might be applicable to our situation? We do have out Trust and that seems to have been completed successfully. Also, when we purchased we were told by the builder and our real estate agent that the good thing about this project was that the builder had the money to complete the entire project and it was not reliant on sales. We understand that the market is not good now but we’re not young (52 & 55) and the stairs are really taking a toll on us. We would appreciate any advice you can give us. Thank you.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8277 Mario Restrepo Sat, 21 Mar 2009 04:26:48 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8277 Hi Chuck, I don't have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions. Of course I wish that all comes out to your satisfaction. I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area. Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment. Please pop in the office when you get a chance. Thanks for your willingness to share. Hi Chuck,

I don’t have any info on Las Palmas Condominiums in Rosarito. I have never worked with them on any transactions.

Of course I wish that all comes out to your satisfaction.

I would be happy to meet with you some day should you come to my office here in Baja located in the K38, Baja area.

Ultimately, I really hope the long term plans of the developer and the economy give you all you have desired out of your investment.

Please pop in the office when you get a chance.

Thanks for your willingness to share.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8271 chuck medlin Sat, 21 Mar 2009 01:41:52 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8271 Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD. Do you have knowledge about Las Palmas Condominium in Rosarito? The developers name is GGD.

]]> By: chuck medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-8270 chuck medlin Sat, 21 Mar 2009 01:32:33 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-8270 Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn't have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due. Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say "should have happened". "Shame on them". You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title. Thanks for your reply. The title cannot be delivered or the amenities completed because the developer doesn’t have the money. The title company says the titles are ready but the Bank will not release the lien so it can be granted until the developer pays them an sizable amount per unit to collect the loan that is due.

Obviously, your advice is sound. However, I purchased my unti through a local realtor and I bought a contract. Nothing was mentioned about what you say “should have happened”. “Shame on them”.

You would think that the law prohibits a developer from not delivering what I paid for. Poor management or diverting the money to another place causes the same unfinished project with no title.

]]> By: Mario Restrepo http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6719 Mario Restrepo Thu, 12 Feb 2009 04:15:32 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6719 Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don't have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton. I know you don't want to here lines like: "you should have," but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer. I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you. For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction. If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: <a href="http://wwww.bajaopenhouse.com" rel="nofollow">Baja Open House</a>. I am located in the Rosarito corridor. Chuck, you have to speak with a real estate attorney. From what you write, it appears as if you have given the developer 100% of your money in exchange for title to a property, and that you just don’t have title yet. This is where a purchase offer with escrow instructions set to protect you would have saved you a ton.

I know you don’t want to here lines like: “you should have,” but it is important to point out for the next buyer that it can be very safe for a buyer of new developement in Bajaa if they use an escrow company, or do research on the developer first, and not a deposit directly to the developer.

I have compassion for you Chuck, and can help you with your next transaction, but you will need to do one or all of these: talk to your real estate attorney to see if there is something that can be done, or wait until title is delivered, and amenities are in. If you decide to wait, make sure you talk with a title company in the area to ask if title for units is on the way. A title company will most likely know as they are farming that business. If title is not far away, hang tight if you like the unit, and just enjoy it. Otherwise, you can sell, but it is tough selling contracts to title. And lastly, there is a rental market out there that you might find to be a fit for you.

For anyone else out there interested in Mexico real estate. Read the article I wrote above. It is intened to help you ask questions to lead you in the correct direction.

If any of you would like a professional real estate opinion on a particular development, I would be glad to help you if you send me an email. Simply contact me via my website: Baja Open House. I am located in the Rosarito corridor.

]]> By: real estate questions? http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6714 real estate questions? Wed, 11 Feb 2009 23:07:49 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6714 It would seem pretty sketchy to buy a place down there isn't it scary to do? It would seem pretty sketchy to buy a place down there isn’t it scary to do?

]]> By: chcuk medlin http://www.mexicorealestateinvestment.org/buying-baja-new-construction/00335/comment-page-1#comment-6649 chcuk medlin Mon, 09 Feb 2009 02:12:43 +0000 http://www.mexicorealestateinvestment.org/?p=335#comment-6649 Paid cash for condo in Rosarito. My unit was delivered one year late so a 1% fee due from developer. Half of the units are unsold and/or unfinished. All of the amentities are not finished. Developer has been paying utilities, security, etc..Now wants owners who occupy to pay a monthly fee. No HOA yet. Condo regime approved and registered, Developer used some of the money to build and some for another prpject. Has Bank financing. Bank has opened a master trust account. Developer sent owner documents to the trust dept. to get title and trust. Trust dept. has requested the release of lien from the Bank's lien dept. After several months they have not sent it. Who is obligated to have the money to pay the Bank to release the lien? The Bank who has an outstanding loan and/or the developer. If neither pays what are my options? Has a law been broken by the developer diverting the money to another project? Does the Bank have "lenders liability". Does the Bank as holder of a fully paid contract have the responsibility to honor it. The contract states that a title and trust will be given. Is the Bank responsible for telling me what is going to happen and if the developer is bonded to cover the money paid to him? Are there MX foreign investment laws to protect my investment? The purchase contract states that the developer will provide the title and trust, is that considered a "promise to trust agreement" and is it enforcable? Paid cash for condo in Rosarito. My unit was delivered one year late so a 1% fee due from developer. Half of the units are unsold and/or unfinished. All of the amentities are not finished. Developer has been paying utilities, security, etc..Now wants owners who occupy to pay a monthly fee. No HOA yet. Condo regime approved and registered, Developer used some of the money to build and some for another prpject. Has Bank financing. Bank has opened a master trust account. Developer sent owner documents to the trust dept. to get title and trust. Trust dept. has requested the release of lien from the Bank’s lien dept. After several months they have not sent it. Who is obligated to have the money to pay the Bank to release the lien? The Bank who has an outstanding loan and/or the developer. If neither pays what are my options? Has a law been broken by the developer diverting the money to another project? Does the Bank have “lenders liability”. Does the Bank as holder of a fully paid contract have the responsibility to honor it. The contract states that a title and trust will be given. Is the Bank responsible for telling me what is going to happen and if the developer is bonded to cover the money paid to him? Are there MX foreign investment laws to protect my investment? The purchase contract states that the developer will provide the title and trust, is that considered a “promise to trust agreement” and is it enforcable?

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