Forums > Specific Focus > Home Exchange/Rent/Sale

Jimenarobt

Aug 9, 2009, 12:03 PM

Post #1 of 6 (3144 views)

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Looking for a Home to Buy Within 6 or 7 Hours Drive of Tampico

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Hi, I could sure use some good advice or answers on a few things. I really need some help. I am a 67 year old male married to a Mexican Lady (Last month) and the application for my FM 2 is already in progress. I have the original marriage papers with me as well as all the documentation of my (still valid) tourista visa.

I am looking for a 3 bedroom 2 bath (or close to that) single level home to buy, with a little terrain around it (so my Step-daughter can play with our Chocolate Lab. I need this home to be within 6 or 7 hours of Tampico so my step daughter can visit her Dad and my wife to visit her parents. I understand that because I am nt a Mexican citizen that I cannot own any property within 32 Kilometers (or is it 50 Kilometers) of the coast. I will appreciate any input on this as well.
Now a note to all and I hope this will help some other folks as well. I was very worried about having my US Military Pension Checks and my US Social Security Checks sent to a place I could get at them from Mexico. I have heard of Scotia Bank and a couple of others when I cam across a fairly new bank in Texas called "Inter National Bank". This bank is owned by Bancnorte in Mexico.

As a result of this affiliation, I can use my debit card at any Bancnorte WITHOUT ANY Charge and I can buy a home in Mexico with a mortgage held by Inter National Bank. I believe this is solely possible because of this bank in Texas being owned by Bancnorte. This is especially gratifying as I will not be "held Hostage" by the Mexican "Cash Culture" necessary for buying a home in Mexico. I get my statements and can move my money around by using the Internet from my home in Mexico. I have opened my account there 2 months ago and this allows me to deposit my Social Security by direct deposit as well as my US Military Pension. This was a real relief.

Thanks for any input any of you would be able to share with me. If you have such a house to sell or if you know anyone who has such a house to sell I would appreciate knowing about it. A large pueblo or small ciudad is fine also. Humidity is not my best friend but the heat or the cold (such as it is in the Mexican winter) is not so important.
Thank you again for any and all responses. I really appreciate this forum.

Rob

RickS

Aug 9, 2009, 1:44 PM

Post #2 of 6 (3134 views)

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Re: [Jimenarobt] Looking for a Home to Buy Within 6 or 7 Hours Drive of Tampico

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Rob, a few thoughts about some parts of your Post....

Home Ownership 'on' the coast.... actually this IS possible for you and is done by thousands? of non-Mexican citizens. It is done through a 'trust' that is set up in your name and is held by a bank. If you are interested in that specifically, ask in another Post and someone will fill you in on the details.

Buy a Home in Mexico with a Mortgage at Inter National Bank.... this (mortgages in Mexico) is becoming more 'common' in some areas, but surely not in the majority of areas I don't think. I looked specifically at this bank's web-page and see that:

+ the rate(s) are basically 5 or 7 year ARMS, currently at 8.25% and 8.5%... adjustable at the end of the term at the then prevailing rate. There is an Origination Points fee of 3%.
+ the minimum loan is for $150,000 US with a 70% maximum LTV (loan to value), which means that the minimum selling price of the purchased home would be $215,000 US ($2.8 million pesos). In most areas of Mexico that will get one a rather nice home.
+ the 'Areas Mortgages are Available' include Cancun, Los Cabos, Puerto Vallarta and "many other popular resort areas". Without knowing where these 'other' locations are, it appears that the Bank is only interested in making loans in tourist areas or areas that would have high foreign appeal. I can't think of any popular resort areas within 6-7 hours of Tampico, and none that have low humidity, but....

Good luck in your 'new' life in Mexico.

(This post was edited by RickS on Aug 9, 2009, 1:53 PM)

zorrio

Apr 20, 2011, 6:23 PM

Post #3 of 6 (1215 views)

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Re: [RickS] Looking for a Home to Buy Within 6 or 7 Hours Drive of Tampico

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I have a great place for sale in Veracruz.
#12 VICENTE GUERRERO, Teocelo, Veracruz - MyRealTrade
Not too far from Tampico. I need to sell in a few weeks, to return to US for surgery.
I am very serious, and willing to sell my place for much less than it's value.Please contact with questions, en Espanol o Ingles.
Rodrigo Cooper

jerezano

May 27, 2011, 3:19 PM

Post #4 of 6 (1060 views)

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Re: [zorrio] Looking for a Home to Buy Within 6 or 7 Hours Drive of Tampico

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Hello Rob,

If you have decided to not buy the home in Toceoleo? Veracruz that was offered you, you might consider Cd. Victoria or Soto de la Marina. Soto de la Marina will have lower priced homes and will be nearer to a beach. Also that area will some day become a government planned tourist area according to present government statements. The climate (both places) is typically an air-conditioner needed climate but so will any near the beach area.

You might also be able to find a seller who will accept perhaps a 5 year purchase rather than a cash-out purchase. Since your companion speaks Spanish, you are a step ahead of most of us here.

Good luck. PS: Both McAllen and Harlingen have Veterans' Administration Clinics and will be about 9 to 12 hours away by good roads, but through currently dangerous areas around San Fernando. The crossing at Los Indios which is administered by the Mexican Immigration people out of Matamoros is one of the easiest crossings (both ways) on the Texas frontier.

As ever, jerezano

(This post was edited by jerezano on May 27, 2011, 3:21 PM)

dongringo_catemaco

May 27, 2011, 5:04 PM

Post #5 of 6 (1046 views)

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Re: [Jimenarobt] Looking for a Home to Buy Within 6 or 7 Hours Drive of Tampico

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Gee, Padre Island sound great, but I guess that's not Mexican enough.
Visit Catemaco News

RickS

May 28, 2011, 9:43 AM

Post #6 of 6 (1034 views)

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Re: [jerezano] Looking for a Home to Buy Within 6 or 7 Hours Drive of Tampico

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Keep in mind that Rob posted this almost 2 years ago.......