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alex .

Mar 4, 2003, 12:34 PM

Post #1 of 4 (1952 views)

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finally have escrituras in hand

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Man what a fight that was: right up to the expiration date the real estate company representing the previous owner refused to go to the Notarios office and sign. Why?
"I'm on vacation right now"
"I'm visiting otro lado and the crossing is too difficult today"
"Its my birthday, I ll be celebrating instead of going to the Notario."

Well, he finally did sign, we got the property registered, lets see, from October 2001 to now is 16 months after we paid for the property in full. The Notario returned the original escrituras and power of attorney to us and the agency is hopping mad! Everyday they call either me or the Notario demanding the return of the original documents, which incidently have exactly zero value now that the property has been transferred. So whats he up to? Trying to resell the property or mortgage it assuming that the ownership transfer will go unnoticed? My answer to when I will return the documents?
"I'm on vacation right now"
"I'm visiting otro lado and the crossing is too difficult today"
"Its my birthday......"
Alex

(This post was edited by alex . on Mar 4, 2003, 12:39 PM)

Rolly

Mar 4, 2003, 3:12 PM

Post #2 of 4 (1724 views)

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Re: [alex .] finally have escrituras in hand

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Maybe your dog should eat them. I'd keep them for at least as long as he strung you out. You might be right that he has unkind things in mind. Oh, and be sure to spill coffee on them -- a lot of coffee.

Rolly Pirate

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(This post was edited by Rolly on Mar 4, 2003, 3:13 PM)

pedro naco

Mar 4, 2003, 4:43 PM

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Re: [alex .] finally have escrituras in hand

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this is an awfull thought-what if you bought something he's resold over and over and a whole bunch of you own it! or remortaged over and over.

suggest to him after a time of holding out and spilling coffee that he might want to give you a large sum of pesos for said papers.

alex .

Mar 5, 2003, 7:23 AM

Post #4 of 4 (1650 views)

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Re: [pedro naco] las trampas ya terminaron

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Thats what was going on before. The property is sold on a private contract, which requires no registration if the value is less than approximately 250,000 pesos. The "deed" doesn't change name, nor the utilities, until the contract is paid. The previous owner was taking advantage of the transient nature of the folks coming to the big city to make their fortune. He would collect a down payment, several mortgage payments, then do it all again when the property was abandoned. No paperwork to change over. We fulfilled our obligation and messed up his system.
The aggrivating part was that there was no way to force the signing of the escrituras as there is no escrow company holding the funds back. We had already sic'ed two lawyers on the guy , he knew we have the resources to make life difficult for him. The next step that we considered was to shame him in front of other respectable real estate firms, to get them to put pressure on him to behave. We didn't do that, after careful consideration, because, well, he might have sent someone to bestow bad karma on us, if you know what I mean. Anyway, its now a done deal and I have learned a whole lot, and my wallet is substantially thinner to show for it !
Alex
I forgot to add that there is a form that one can file with the Palacio, though I can't remember what its called right now, that serves as notice that the property is undergoing change of ownership. We should have filed that document years ago, so that the previous owner could not use the property under contract as collateral nor sell it to someone else. Didn't learn about it 'til just recently.

(This post was edited by alex . on Mar 5, 2003, 7:29 AM)