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nancyinpdx

Feb 8, 2009, 12:49 AM

Post #1 of 5 (2971 views)

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traspasa casa

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hi. i look at Mexican real estate on the web nearly every day and do not understand something. I think it said something like casa traspaso or traspasa. Also, how do you say duplex, triplex, or quadplex? Thank you so much.

nancy

sergiogomez / Moderator

Feb 8, 2009, 1:36 AM

Post #2 of 5 (2968 views)

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Re: [nancyinpdx] traspasa casa

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Vendo o traspaso casa--the term in English isn't coming to mind, but the seller is willing to either sell the property outright or let the buyer assume the mortgage (traspaso de casa).

Duplex is properly casa de dos viviendas, but no one says that, at least in Mexico. It's always dúplex, tríplex, and cuadruplex.

Carron

Feb 8, 2009, 11:09 AM

Post #3 of 5 (2951 views)

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Re: [sergiogomez] traspasa casa

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I would be very, very leery about going into a deal "traspaso" in Mexico. Real estate conveyance in tricky enough here without any additional complications.

I think in the US we would describe this as a "wrap-around" mortgage. You pay the seller a monthly mortgage payment, presumably more than he is paying on his own mortgage, and it then becomes his responsibility to forward his portion of the payment to the original mortgage holder. When he has paid off the mortgage, the property becomes his without liens and he then transfers the property over into your name and you continue to make the same payments you have been until it is paid off and you then own it free and clear.

Adds a whole other layer of two to the potential of problems.

(This post was edited by Carron on Feb 8, 2009, 11:10 AM)

nancyinpdx

Feb 9, 2009, 8:08 AM

Post #4 of 5 (2928 views)

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Re: [Carron and Sergiogomez] traspaso casa

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In Reply To

Thanks to both of you. Sounds too scary to me!

nancy

sioux4noff

Feb 9, 2009, 8:58 AM

Post #5 of 5 (2922 views)

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Re: [nancyinpdx] traspasa casa

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As was said, sometimes it just means the house is for sale. It would be important, of course, to establish that early on in any negotiations.