Mexico was wonderful........9 months until I retire

brownmonster

Man of Great Wisdom
You might have to re-think your retirement plans. The market dropped a little since the first of the year. Not sure 4.3 million will be enough.
 

oldngray

nowhere special
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moreluck

golden ticket member
Don't know if it's true, but a long time ago I remember reading where if you buy a house or lot in Mexico they can take it away from you......not like in the U.S. where you buy and it's yours.

Found this....

Purchasing Property
Foreigners can own land in Mexico. If you find property in the restricted zone (within 50 kilometers of the coast or 100 kilometers of the border), you will need to apply for a fideicomiso. In this trust agreement, a Mexican bank takes title to the property. You, as the owner, will still enjoy virtually all rights, including using, selling, and naming a beneficiary to the land. In the interior of Mexico, you can own property in your own name. To do so, you will need to have an escritura (deed) prepared by a Mexican notary public.
The notary public will play a very active role in the purchase of land. In Mexico, all legal documents must be signed before the notary public to be legitimate. Ask yours to check that all debts and necessary payments have been made on the land. If you are purchasing land from a developer, have the notary public affirm that there are permits for development and construction included. Do not sign anything until you have a clear understanding of what the document says.
In addition, consider the following:
  1. Avoid purchasing land labeled as “egido.” This is communal agricultural land and can be a legal headache. It is best to stay away from it.
  2. Ask about water, sewer, and electrical connections. If these are not readily available, it can be very expensive to hook them up.
  3. Check into city ordinances. Some areas, such as Cozumel, only allow construction on a certain percentage of the property and issue height limits.
Avoid getting wrapped up in “margarita fever” (initial excitement upon seeing the advantages of living in Mexico). Instead, take the steps one at a time. Do plenty of research, ask questions, and stay away from anything that seems suspicious to you. Pacing yourself throughout the process will help you find land you are ultimately satisfied with.


http://www.transitionsabroad.com/listings/living/articles/building_a_house_in_mexico.shtml
 
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