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jamesstapleton

Home with RV pad $50k Baja California Mexico 2 hours to border

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RV Home base

House and land for sale – San Matias, Baja California Norte, Mexico, $50,000.  OWNER FINANCING AVAILABLE.

We purchased the house from long time Escapees members.

Located between San Felipe and Ensenada at 3,000’ in the San Pedro Matir mountain range. 2.5 hours south of the US Border.

House is a 2 bedroom 1 bath, plus a 25'x25' shop with a 3/4 bath. Two enclosed garages, plus an RV Ramada, hot tub, sauna. House has dual pane windows, new heat pump. Great water. Local telephone, Satellite TV, internet service are available.

Great area to live a simple life. Annual property taxes are $80. Water is $150 year. You can legally own land and homes in Mexico, such as this one.

I've encountered challenges posting pictures. You can email or call me, provide your email address, and I'll send you numerous pictures.

Jim Stapleton 425-214-4079

jamespstapleton2010@gmail.com

 Information about San Matias

http://www.sanfelipe.com.mx/news/sanmatias/sanmatias4.html

GPS - near the following:

·        Latitude:  31° 20' 10.2" (31.3362°) north

·        Longitude:  115° 35' 20.8" (115.5891°) west

Streets - Calz. Independencia to the south, Miguel Hidalgo to the east

Edited by jamesstapleton
Update pursuant to questions received

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Not sure but last time I checked you can not legally own land in Mexico unless you are a Mexican citizen. You can only lease for 99 years if you are a US citizen. But I could be wrong. 

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Please email me for pictures - provide your email address.

Twotoes - your wrong. Ownership of property in Mexico by a "non-national" (US, Canadian, or.. citizen) via a Fideicomiso or Mexican Coporation that you create. Many strong international banks offer Fideicomiso.  The Mexican government created this to encourage property ownership by non-nationals.  Plus, I have title insurance via US title insurance company.

 See below: 

A Fideicomiso is a 50-year perpetually renewable and transferable Bank Trust through which foreigners acquire irrevocable and absolute ownership rights to property in Mexico. This Trust is the legal equivalent for fee-simple ownership and is provided specifically for non-nationals to own coastal and border property. Essentially, it is like a Trust in the United States —the bank holds the legal title to the property, with all rights and privileges of ownership, including exclusive use and enjoyment, held by the Trust beneficiary—you. You retain the use and control of the property and make all decisions concerning the property. You have the same "bundle of rights" as owning property with fee simple title. You have the right to use and enjoy, lease, improve, mortgage, sell, inherit and will the property.

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The original Mexican Constitution did prevent foreigners from owning property directly. That was changed in 1973 by an official Constitutional Amendment that allowed foreign ownership of land, except in the restricted zones.

What TwoToes referenced applied prior to the further changes made in 1993, but only applied within what is referred to as the "Restricted Zone", which is defined as within 50 km of any ocean shore or 100 km of the international border.  Outside these restricted zones, within the interior of the country, foreigners were allowed to buy & own property directly with a title in their name, since 1973.

When I owned a house in Puerto Vallarta back in the late 1980's it was only allowed by 99 yr lease, since it was in the "restricted zone". But that restricted zone limitation was changed by another Constitutional amendment passed in 1993 to encourage more foreign investment. It was that change which allowed ownership in restricted zones via Fideicomiso. Thats how it was explained to me back then, but I haven't bought or sold in Mexico for 20 yrs.

 the "Fideicomiso" is the equivalent of a US Living Trust, very secure with all ownership rights. in some ways its actually more secure than a title in Mexico. 

Since the Mexican real estate industry is not as well regulated as ours, I always recommend having an experienced Mexican Lawyer involved in the transaction. When a Fideicomiso is required, the bank as trustee will have their own lawyers involved, since by law they are required to protect your interests.

Edited by JRP

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Great information and insight.

We have the first Fido in San Matias, as the attorney in Ensenada wanted to initiate the process for other property owners in the area.

Pictures  - please contact me, too large to upload. The link below is to my Craigslist posting, which has pictures

https://sandiego.craigslist.org/esd/reo/d/san-luis-50k-baja-california-norte/6789097052.html

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On 1/14/2019 at 2:15 PM, jamesstapleton said:

Great information and insight.

We have the first Fido in San Matias, as the attorney in Ensenada wanted to initiate the process for other property owners in the area.

Pictures  - please contact me, too large to upload. The link below is to my Craigslist posting, which has pictures

https://sandiego.craigslist.org/esd/reo/d/san-luis-50k-baja-california-norte/6789097052.html

It appears that posting has expired.  Should renew

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That posting has also expired. I don't think fidecisimos are for 50 or 99 years. More like 20 years. You have to pay an annual fee and lately that is around $500.00. I have never heard of title insurance in Mexico. Before buying any property in Mexico it is wise to have the notary check to see if it has ever been Ejido land, If so the property can be seized. Great living but one has to be careful.

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When first allowed in 1973 the Fideicomiso max length was set at 30 yrs by law. In 1998 the law was changed to set the length at 50 yrs.  It is possible to agree to a sorter length, but most are set at the max allowed 50 yr duration. But you or the future owner also have the right to renew the Fideicomiso Trust when it expires.

Yes, there are fees involved, $1500-2000 for the initial setup & paperwork, then $500-700 per year administrative fee.

It was never implied that a Fideicomiso length was 99 yrs, that was in reference to the previous method, prior to 1993, where a 99 yr lease was used for properties within the restricted zones.  

Its true that title insurance is not as common in Mexico, but it is available and used by many foreign buyers. The Mexican real estate process is different than ours, they use a Gov certified Notary Public (Notario), who is usually a lawyer, for the official closing and one of their responsibilities is to do a title search. Whenever a lender or fideicomiso bank is involved, their legal dept will also do a title search. So many just feel a title insurance policy is a waste of time & money. But many others prefer to have it, even if its a duplicated cost. 

Yes, I agree that its very important to verify the land was never classified as Ejido.

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28 minutes ago, Bobbyb said:

That posting has also expired. I don't think fidecisimos are for 50 or 99 years. More like 20 years. You have to pay an annual fee and lately that is around $500.00. I have never heard of title insurance in Mexico. Before buying any property in Mexico it is wise to have the notary check to see if it has ever been Ejido land, If so the property can be seized. Great living but one has to be careful.

The Notario in Ensenada did this Fido. It took time to get it completed, as it was the first one in the area.   He had other clients who were interested in getting a Fido, and used our property as the first one. It's current - Scotia Bank holds it. Prior to the Fido, I had the title.

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Just now, JRP said:

When first allowed in 1973 the Fideicomiso max length was set at 30 yrs by law. In 1998 the law was changed to set the length at 50 yrs.  It is possible to agree to a sorter length, but most are set at the max allowed 50 yr duration. But you or the future owner also have the right to renew the Fideicomiso Trust when it expires.

Yes, there are fees involved, $1500-2000 for the initial setup & paperwork, then $500-700 per year administrative fee.

It was never implied that a Fideicomiso length was 99 yrs, that was in reference to the previous method, prior to 1993, where a 99 yr lease was used for properties within the restricted zones.  

Its true that title insurance is not as common in Mexico, but it is available and used by many foreign buyers. The Mexican real estate process is different than ours, they use a Gov certified Notary Public (Notario), who is usually a lawyer, for the official closing and one of their responsibilities is to do a title search. Whenever a lender or fideicomiso bank is involved, their legal dept will also do a title search. So many just feel a title insurance policy is a waste of time & money. But many others prefer to have it, even if its a duplicated cost. 

Yes, I agree that its very important to verify the land was never classified as Ejido.

I do pay $500 each year for the annual fee for the Fido, which is held by Scotia Bank.

The Notario in Ensenada did this Fido. It took time to get it completed, as it was the first one in the area.   He had other clients who were interested in getting a Fido, and used our property as the first one. It's current - Scotia Bank holds it. Prior to the Fido, I had the title. I purchased the property from fellow Escapees members, who had it titled.

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James:  Thanks for the explanation. Lots of hoops to jump through but once done it is no big deal. Are you in an area where there was Ejido land?   Do you have the pictures?  Your listing has expired.

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On 2/3/2019 at 4:40 PM, Bobbyb said:

James:  Thanks for the explanation. Lots of hoops to jump through but once done it is no big deal. Are you in an area where there was Ejido land?   Do you have the pictures?  Your listing has expired.

I'll research the question about Ejido land - as I can't recall.

Pictures - yes. Too large to post/attached. Please email me and I'll reply with pictures, or call me at 425-214-4079 and provide me your email.

Listing expired - Craigslist - I'll renew.

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