Comments on: Headed to Puerto Penasco http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/ Phoenix Real Estate -- Anything and everything about it. Plus random musings... Now with Phoenix area MLS Listings Search! Sat, 21 Nov 2009 14:25:35 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Name http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-60220 Name Tue, 27 Oct 2009 05:17:25 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-60220 We represent clients who are buyers of Las Palomas Seaside Golf Community condominiums seeking a return of their deposits based on the cancellation option in the purchase contract and based on rights under various U.S. federal and state laws, including RICO and the Interstate Land Sales Full Disclosure Act. In connection with our clients’ RICO (i.e., racketeering) claim, we are interested in speaking with other Las Palomas buyers about their dealings with Las Palomas, The Worldwide Group, Abigail Properties, and individual sales agents, representatives or principals, including Alan Mishkin and Steven Barger. If you have any information that may be relevant to our clients’ claims, please contact Chris McDonagh at (520) 798-5233 or by email at <a href="mailto:cmcdonagh@ravlaw.com" rel="nofollow">cmcdonagh@ravlaw.com</a>. Thank you in advance for any assistance you can provide. We represent clients who are buyers of Las Palomas Seaside Golf Community condominiums seeking a return of their deposits based on the cancellation option in the purchase contract and based on rights under various U.S. federal and state laws, including RICO and the Interstate Land Sales Full Disclosure Act. In connection with our clients’ RICO (i.e., racketeering) claim, we are interested in speaking with other Las Palomas buyers about their dealings with Las Palomas, The Worldwide Group, Abigail Properties, and individual sales agents, representatives or principals, including Alan Mishkin and Steven Barger. If you have any information that may be relevant to our clients’ claims, please contact Chris McDonagh at (520) 798-5233 or by email at cmcdonagh@ravlaw.com. Thank you in advance for any assistance you can provide.

]]> By: Michelle Kathleen Sheridan http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-40037 Michelle Kathleen Sheridan Mon, 22 Sep 2008 02:29:42 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-40037 i have a large home in rocky point i need to sell its listed with coldwell i am very dissipointed with ther service was thinking your company could help i allso have nice largelot to sell both propertys are prime pieces inlos conchos contacte me please thanks i have a large home in rocky point i need to sell its listed with coldwell i am very dissipointed with ther service was thinking your company could help i allso have nice largelot to sell both propertys are prime pieces inlos conchos contacte me please thanks

]]> By: Jay - The Phoenix Real Estate Guy http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-35122 Jay - The Phoenix Real Estate Guy Wed, 09 Jul 2008 00:40:32 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-35122 Howie - I am not well versed in Mexican real estate law, and can not offer any advice. You'd be best served speaking to an attorney that is knowledgeable in Mexican real estate/contract law. Things can work *very* differently in Mexico than they do in the States... Howie – I am not well versed in Mexican real estate law, and can not offer any advice. You’d be best served speaking to an attorney that is knowledgeable in Mexican real estate/contract law. Things can work *very* differently in Mexico than they do in the States…

]]> By: Howie http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-35121 Howie Wed, 09 Jul 2008 00:08:56 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-35121 Back in 2006 I purchased a condo at Las Palomas in Rocky Point. The condo was supposed to be delivered by August 31, 2008 but last I heard they aren't expected to be finished until the end of the year. The contract states that if the unit is not delivered by August 31, 2008, I can get my money back. However, Las Palomas says that a judge has granted them a "Force Majeure" allowing them to extend the delivery date. My question is this: am I still bound by the original contract if they go beyond the original date? What legal rights do I have to get my money back? To give some additional background, my wife and I moved to Florida to be closer to her mother who has cancer. We haven't been able to sell our house in AZ and now owe more than it's worth. We are renting a house in FL. We are renting out our house in AZ, but not covering our mortgage costs. Needless to say, we can't afford to go through with the condo unless we foreclose on our AZ house, and even then I'm not sure if we can afford it any more. I was counting on the condo not being ready by the delivery date so that i could cancel it and get out of the deal. Any help is appreciated! Howie Back in 2006 I purchased a condo at Las Palomas in Rocky Point. The condo was supposed to be delivered by August 31, 2008 but last I heard they aren’t expected to be finished until the end of the year. The contract states that if the unit is not delivered by August 31, 2008, I can get my money back. However, Las Palomas says that a judge has granted them a “Force Majeure” allowing them to extend the delivery date.

My question is this: am I still bound by the original contract if they go beyond the original date? What legal rights do I have to get my money back?

To give some additional background, my wife and I moved to Florida to be closer to her mother who has cancer. We haven’t been able to sell our house in AZ and now owe more than it’s worth. We are renting a house in FL. We are renting out our house in AZ, but not covering our mortgage costs. Needless to say, we can’t afford to go through with the condo unless we foreclose on our AZ house, and even then I’m not sure if we can afford it any more. I was counting on the condo not being ready by the delivery date so that i could cancel it and get out of the deal.

Any help is appreciated!

Howie

]]> By: Dallas Real Estate Buyer Rebate http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-32425 Dallas Real Estate Buyer Rebate Mon, 26 May 2008 16:53:53 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-32425 Not sure about Mexico. But you can get good real estate rebates in Texas from www.dfwrealties.com Not sure about Mexico. But you can get good real estate rebates in Texas from http://www.dfwrealties.com

]]> By: Homes http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-31815 Homes Tue, 13 May 2008 20:46:12 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-31815 Yeah this does sound interesting. Post more info about your visit there later. How do the commissions work? Yeah this does sound interesting. Post more info about your visit there later. How do the commissions work?

]]> By: PaulK http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-21588 PaulK Mon, 22 Oct 2007 04:14:30 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-21588 A couple of clarifications on Philip's comment. First, I agree with his sentiments about being cautious. Things are different down there and I recommend working with one of the well known realtors in town (who as I mentioned above are now required to take courses and get licensed). I would also recommend hiring a Mexican attorney (see my blog post at http://www.puertopenascopost.com/weblog/lawyers/index.html) for your real estate transaction (lawyer=abogado in espanol by the way). A "notario" is effectively a higher level lawyer who is appointed to act as an official lawyer of public registry for a region of Mexico. All official legal transactions to be recorded are reviewed and approved by the notario (note this is very different from a notary public in the U.S.). Raul O'Farrill's articles page has a lot of good information about notarios, real estate, etc. at http://www.ofarrill.tv/article_english.html. Finally, passports are NOT required in January 2008. They are expected to be required in summer of 2008 but the Department of Homeland Security may allow a different form of ID. Either way, I encourage everyone to apply for a passport now anyway. My blog posts at http://www.puertopenascopost.com/weblog/border/index.html talk more about the border crossing and passport status and issues. A couple of clarifications on Philip’s comment.

First, I agree with his sentiments about being cautious. Things are different down there and I recommend working with one of the well known realtors in town (who as I mentioned above are now required to take courses and get licensed).

I would also recommend hiring a Mexican attorney (see my blog post at http://www.puertopenascopost.com/weblog/lawyers/index.html) for your real estate transaction (lawyer=abogado in espanol by the way). A “notario” is effectively a higher level lawyer who is appointed to act as an official lawyer of public registry for a region of Mexico. All official legal transactions to be recorded are reviewed and approved by the notario (note this is very different from a notary public in the U.S.). Raul O’Farrill’s articles page has a lot of good information about notarios, real estate, etc. at http://www.ofarrill.tv/article_english.html.

Finally, passports are NOT required in January 2008. They are expected to be required in summer of 2008 but the Department of Homeland Security may allow a different form of ID. Either way, I encourage everyone to apply for a passport now anyway. My blog posts at http://www.puertopenascopost.com/weblog/border/index.html talk more about the border crossing and passport status and issues.

]]> By: Paula Henry http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-21569 Paula Henry Sat, 20 Oct 2007 02:30:53 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-21569 Jay - Have fun - do you have to go for work? Maybe with a few extra beers, it won't feel like work. Jay – Have fun – do you have to go for work? Maybe with a few extra beers, it won’t feel like work.

]]> By: Philip Rosenberg http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-21564 Philip Rosenberg Fri, 19 Oct 2007 16:50:24 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-21564 Real Estate in Mexico has slowed up a great deal as Arizona's market has slowed. As an investment, look into the Mexico taxation of profit. I believe it is either 30 or 33% so your property will have to appreciate a lot to get back closing costs and appreciation. Bank Trusts were explained earlier, but if you or your investor are buying, BE SURE YOUR PROPERTY is already in a transferable trust. Minimally use a "notario" or an "abogado" whom you hire to work for you. A notario is similar to our lawyer but I do not believe they can practice in a courtroom. An abogado is an attorney. Do not believe either an Amercian or Mexican seller. Confirm anything and everything for yourself. Let the buyer beware, Mexican law is vastly different than our law, and Mexican real estate law bears no resemblance to our real estate laws. NONE! Most properties can be rented for a night/weekend/any length of time. Try it on before you buy it! Bad neighbors, like bad neighborhoods make for a lousy investment. Renting out your property to cover some of your costs is a viable option. Use a good rental firm, and compare prices. Most charge you about 35% to rent your unit, PLUS taxes, impact fees, etc. Oh, and check into your electric bill and availability of fresh water. Electricity and fresh water are valuable commodities in Rocky Point. Water purchased through the city of RP is EXPENSIVE. Last, building codes in Mexico, if they have them, are virtually non-existent. If you are buying anything but a new condo, take your favorite US made, professional home inspector to look at wiring, plumbing and HVAC particularly. Seek out information about your HOA. Talk to ALL of the board members. I emphasized ALL of them for a reason too lengthy to es'plain here. I am not an expert at Mexican real estate but I am a Rocky Point property owner via Bank Trust and we rent out our three story water side home throughout the year. Ours is rented a lot, but costs are NEVER covered by rentals. Have fun in Rocky Point. Each time I cross the boarder to stay in our home, my blood pressure decreases about 40 points. Last, as of January 1, 2008, you will need a passport to travel back and forth. Get one NOW. The wait for passports is ridiculous. I think I said the word "Last" in here more than once. Forgive me, my mind was bouncing around. Philip Real Estate in Mexico has slowed up a great deal as Arizona’s market has slowed. As an investment, look into the Mexico taxation of profit. I believe it is either 30 or 33% so your property will have to appreciate a lot to get back closing costs and appreciation. Bank Trusts were explained earlier, but if you or your investor are buying, BE SURE YOUR PROPERTY is already in a transferable trust. Minimally use a “notario” or an “abogado” whom you hire to work for you. A notario is similar to our lawyer but I do not believe they can practice in a courtroom. An abogado is an attorney. Do not believe either an Amercian or Mexican seller. Confirm anything and everything for yourself. Let the buyer beware, Mexican law is vastly different than our law, and Mexican real estate law bears no resemblance to our real estate laws. NONE! Most properties can be rented for a night/weekend/any length of time. Try it on before you buy it! Bad neighbors, like bad neighborhoods make for a lousy investment. Renting out your property to cover some of your costs is a viable option. Use a good rental firm, and compare prices. Most charge you about 35% to rent your unit, PLUS taxes, impact fees, etc. Oh, and check into your electric bill and availability of fresh water. Electricity and fresh water are valuable commodities in Rocky Point. Water purchased through the city of RP is EXPENSIVE. Last, building codes in Mexico, if they have them, are virtually non-existent. If you are buying anything but a new condo, take your favorite US made, professional home inspector to look at wiring, plumbing and HVAC particularly. Seek out information about your HOA. Talk to ALL of the board members. I emphasized ALL of them for a reason too lengthy to es’plain here. I am not an expert at Mexican real estate but I am a Rocky Point property owner via Bank Trust and we rent out our three story water side home throughout the year. Ours is rented a lot, but costs are NEVER covered by rentals. Have fun in Rocky Point. Each time I cross the boarder to stay in our home, my blood pressure decreases about 40 points. Last, as of January 1, 2008, you will need a passport to travel back and forth. Get one NOW. The wait for passports is ridiculous. I think I said the word “Last” in here more than once. Forgive me, my mind was bouncing around. Philip

]]> By: Dining Room Set http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/#comment-21563 Dining Room Set Fri, 19 Oct 2007 15:08:19 +0000 http://www.phoenixrealestateguy.com/headed-to-puerto-penasco/529#comment-21563 I did not think that you would have any blues to be driven away! Have all the beer you can and waste as many days as you can. All the best! I did not think that you would have any blues to be driven away! Have all the beer you can and waste as many days as you can. All the best!

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