{"id":6683,"date":"2013-06-18T12:47:02","date_gmt":"2013-06-18T18:47:02","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/temp-blog\/?p=6683"},"modified":"2017-08-28T16:18:19","modified_gmt":"2017-08-28T21:18:19","slug":"buyer-beware-in-mexico-how-big-is-the-risk-of-legal-issues","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/blog\/2013\/06\/buyer-beware-in-mexico-how-big-is-the-risk-of-legal-issues\/","title":{"rendered":"\u00e2\u20ac\u0153Buyer beware in Mexico!\u00e2\u20ac\u009d How Big is the Risk of Legal Issues?"},"content":{"rendered":"

\"\"\u00c2\u00a0<\/strong>\u00e2\u20ac\u0153Buyer beware in Mexico!\u00e2\u20ac\u009d reads a giant headline in one of Canada’s leading national newspapers \u00e2\u20ac\u201c The Globe and Mail<\/a>.<\/p>\n

What’s the message?\u00c2\u00a0 Are they telling you something that brokers and sellers in Mexico won’t?<\/p>\n

If you read the article’s information \u00e2\u20ac\u201c a story about \u00e2\u20ac\u0153a property dispute that has put [some people’s] ownership rights in question and remains unresolved after several years of attempted litigation,\u00e2\u20ac\u009d it’s clear that they’re talking about exceptional \u00e2\u20ac\u201c albeit very uncomfortable \u00e2\u20ac\u201c cases.<\/p>\n

Yet the headline itself along with the first couple of paragraphs give a different; \u00e2\u20ac\u0153If you buy in Mexico, you’ll loose everything …\u00e2\u20ac\u009d<\/strong><\/p>\n

What’s the Deal?<\/strong><\/p>\n

So what’s the deal here?\u00c2\u00a0 Does the government come along and take anyone’s property away whenever they please?<\/p>\n

Well, let’s look the main points of the reality of this kind of situation.<\/strong><\/p>\n

1. They can happen<\/strong><\/p>\n

The reality is that situations like this can happen.\u00c2\u00a0 Irresponsible decisions from judges or magistrates, disputes between investors or owners and the like can at times create a legal limbo that leaves property ownership up in the air and in question.\u00c2\u00a0 Real stories are out there.<\/strong><\/p>\n

2. They are rare\u00c2\u00a0\"\"<\/strong><\/p>\n

They do not happen all the time.\u00c2\u00a0 In fact, they are rare enough that when they do happen, it’s worth while for newspapers like the Globe and Mail to dedicate a headline to them.\u00c2\u00a0 There are hundreds of thousands of Americans and Canadians who own property in Mexico.\u00c2\u00a0 If even 0.1% of them \u00e2\u20ac\u201c that’s 1 in a 1000 \u00e2\u20ac\u201c ran into legal troubles with their property, there would be a new story like this one each day.<\/em> But that’s not the case; we hear about them when as often as they happen \u00e2\u20ac\u201c once in a blue moon.<\/strong><\/p>\n

3. They will NOT take your property away<\/strong><\/p>\n

Further down in the article the writer points out that the problems is the question of resale.\u00c2\u00a0 As long as people are not considering sale, these issues usually don’t \u00e2\u20ac\u0153come to head.\u00e2\u20ac\u009d\u00c2\u00a0 Of course, people will want to plan ahead and push to get legal issues resolved before sale time comes, but as for day to day life in the property, it would be unlikely that there would be a any noticeable difference.<\/strong><\/p>\n

4. You can reduce<\/em> the risk<\/strong><\/p>\n

While, just like any risk, it can not be avoided\u00c2\u00a0 100%, it can be reduced.\u00c2\u00a0 For example, working with the right, professional agents<\/a> \u00e2\u20ac\u201c as that article points out \u00e2\u20ac\u201c will mean that you would not be presented with a property where a legal problem already exists.\u00c2\u00a0 The right agent will also investigate projects to avoid any disreputable developers.<\/strong><\/p>\n

\"\"\u00c2\u00a05. Most are solved<\/strong><\/p>\n

Again, as we see in that article, on very rare occasions, even when the buyer did their homework and had reason to believe everything was in good legal order, an unforeseeable problem arises later on.\u00c2\u00a0 In most cases, these are also worked out with time.<\/p>\n

In terms of risk remember the number of people who lost their property and entire livelihood in the U.S. with 2008 real estate bubble?\u00c2\u00a0 That represents a much greater number of people and perhaps even a much more imminent risk of repetition.\u00c2\u00a0 Yet no one hesitates to buy real estate in the U.S.<\/p>\n

None of this negates or denies the headaches, time and effort for those who find themselves in such situations.<\/p>\n

But the point is that if you buy in Mexico<\/a> with a professional agent, it’s extremely unlikely that you would be the one so unfortunate as being the one in 100,000 who ends up being left in limbo because of a rare, unforeseeable and completely unavoidable legal battle.<\/p>\n

—
\nThomas Lloyd<\/strong> graduated from Purdue University Krannert School of Management with a degree in Management\/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 16 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree <\/strong>and Mexico Professional Real Estate License<\/strong> S.E.P. #5978657. He is the president of Top Mexico Real Estate. Contact him at<\/em> (512) 879-6546<\/span><\/strong>.<\/p>\n

The TOP<\/span> Mexico Real Estate<\/a><\/em> Network; “Mexico\u00e2\u20ac\u2122s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!\u00e2\u20ac\u009d<\/em><\/span><\/strong><\/p>\n

\"Mexico<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

\u00c2\u00a0\u00e2\u20ac\u0153Buyer beware in Mexico!\u00e2\u20ac\u009d reads a giant headline in one of Canada’s leading national newspapers \u00e2\u20ac\u201c The Globe and Mail. What’s the message?\u00c2\u00a0 Are they telling you something that brokers and sellers in Mexico won’t? If you read the article’s information \u00e2\u20ac\u201c a story about \u00e2\u20ac\u0153a property dispute that has put [some people’s] ownership rights […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1858,79],"tags":[902,1529,1528,755,90],"class_list":{"0":"post-6683","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-living-and-retirement","7":"category-mexico-property-tips","8":"tag-buying-real-estate-safely","9":"tag-how-to-buy-property-in-mexico","10":"tag-how-to-buy-real-estate-in-mexico","11":"tag-mexico-laws","12":"tag-mexico-lawyer","13":"entry"},"_links":{"self":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/6683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=6683"}],"version-history":[{"count":5,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/6683\/revisions"}],"predecessor-version":[{"id":14682,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/6683\/revisions\/14682"}],"wp:attachment":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=6683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=6683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=6683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}