| Closing questions, documents, Fideicomisos etc. |    |
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peggie
Joined : 18 Mar 2008
Posts : 19
 |  Subject: closing money  3/28/2008, 7:52 am | |
| bill
can we wire closing money to same address as before or is there a special address it has to go to
peggie |
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reemac
Joined : 27 Mar 2008
Posts : 2
Location : Castlegar, British Columbia Canada
| | Subject: Re: Closing questions, documents, Fideicomisos etc. 3/28/2008, 10:55 pm | |
| Hi Bill,
I guess this is the best place to contact you now? I am wondering if you received my final payment, in your last email you mentioned as soon as I have 100% of my balance in then you will be able to get my house on the schedule to clean it and make necessary repairs. Does this mean once the necessary repairs are completed because I have sent 100% of my balance we have owner ship of the house or do we have to wait untill the trust part is complete. Anxiously awaiting a reply.
Kind regards
Loree MacKinnon
Manzana #203
Calle Belize #05 |
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RJ
Joined : 26 Mar 2008
Posts : 6
| | Subject: Trust fee 4/1/2008, 5:51 am | |
| | Can anyone tell me how much $ the annual trust fee is. |
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BuzzA
Joined : 17 Mar 2008
Posts : 6
| | Subject: Re: Closing questions, documents, Fideicomisos etc. 4/1/2008, 7:00 am | |
| I believe it's right around $500 a year, according to current residents. I can't confirm that it is the rate for ScotiaBank, but that should give you an idea.
Diane
| RJ wrote: | | Can anyone tell me how much $ the annual trust fee is. |
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Iceangel
Joined : 25 Mar 2008
Posts : 15
Location : Edmonton, Alberta
| | Subject: RE: 50 Year Title 4/1/2008, 10:04 am | |
| Hi everyone,
Another question re: the 50 year title.
What happens after the 50 years? I know you can renew it but what does that entail?
Do you simply pay the bank fee again or do you have to repurchase the property?
Thank you in advance ...
Carey |
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ChemadianGuy
Joined : 17 Mar 2008
Posts : 51
Location : Edmonton, Alberta Canada / Sasquatch Country
| | Subject: Re: Closing questions, documents, Fideicomisos etc. 4/11/2008, 2:49 pm | |
| My uderstanding of how it works is that in 50 years you will have another 1 time fee, but there is no way to know what it will be then. Currently this cost is included in your 5000 dollar closing costs (about 2500 of it) and it is paid to the govt and gives you title for the next 50yrs. The bank charges you an annual fee of about $500 to hold your trust (large service fee).
This to me is off set by the fact taxes are only 100 per year...
ChemadianGuy
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Calle Belize #3, Manzana 203
Edmonton, Alberta Canada |
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nwcreolelady
Age : 50
Joined : 16 Mar 2008
Posts : 56
Location : Auburn, Washington
| | Subject: Re: Closing questions, documents, Fideicomisos etc. 4/11/2008, 11:30 pm | |
| | reemac wrote: | Does this mean once the necessary repairs are completed because I have sent 100% of my balance we have owner ship of the house or do we have to wait untill the trust part is complete. Anxiously awaiting a reply.
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I was wondering the same thing Bill. Since we'll be there in early July, the only thing I'm concerned about is being able to occupy and work on my casa. It sounds like the titles will be back, but if they are not it is possible to take posession?
Oh, and your explanation to Kathi regarding process of getting the title process going was great!
Thanks Bill!
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Kathy (and Mark)
#5 Calle Jamaica, Manzana 201
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katsardi22
Age : 45
Joined : 17 Mar 2008
Posts : 9
Location : Calgary, Alberta
| | Subject: Titles ont he first 20 homes 4/12/2008, 11:43 am | |
| Hey Bill,
Did the titles come back yet on the first 20 homes?
This will give us some idea of how long it takes(even though we are in the last 128 homes and understanding that the larger number of homes to process will take longer).
Kathy |
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vali
Joined : 18 Mar 2008
Posts : 3
| | Subject: Re: Closing questions, documents, Fideicomisos etc. 4/15/2008, 7:52 pm | |
| Hi,
I would like to know if a Fideicomiso is already set up for any of the first 20 homes??
I understand that is a slow process, but is there any progress??
Thanks/Claudia. |
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sungirl
Joined : 16 Apr 2008
Posts : 9
Location : Elkford BC Canada
| | Subject: Re: Closing questions, documents, Fideicomisos etc. 5/2/2008, 11:23 am | |
| | ChanChemuyilAdmin wrote: | Ok Kathi,
Here is the deal for you (and everyone else) that is to send in their balance by May 15, 2008.
Once we have everyone's money after May 15, 2008--probably around the 17th or 18th of May we will make arrangements to wire from our account to IPAE (the government) for ALL remaining titles.
Starting from the beginning we had 188 homes
we bought 20 titles to start with in December
then in March just about 10 days ago we bought another 40 titles
In May we will buy the remaining 128
In May from the time we transfer funds and they receive them they have 30 days to create those 128 titles and send them to the public registry in playa del carmen. It went pretty smoothly with the first 20, we will see what happens on this 2nd 40 we just did as far as the timeframe. Then Im sure with 128 titles it will require some additional time and probably we will need to pay some "mordidas" (bribes) to get them done more quickly.
I say ALL of that to say this--your title (Kathi) could be number 1 or it could be number 128--at this time I do not know. But I will say that it will be probably late June/July before we could even start getting your Fideicomiso--you have to have the title to finish the Fideicomiso. As we get closer I can probably give you a date/time for you to come down. Again, it will depend on where YOUR title is in that group of 128 titles.
I hope this makes sense to you Kathi and to everyone else. |
Are the March titles back yet? How will we get notification when our title is in?
Thanks
S. |
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sungirl
Joined : 16 Apr 2008
Posts : 9
Location : Elkford BC Canada
| | Subject: Re: Closing questions, documents, Fideicomisos etc. 5/30/2008, 2:24 pm | |
| Bill 
Are you going to update us on our appostils (or how ever you spell it) and the fideicomisos here. It would be nice to get updates on what is going on here. I do not like the yahoo group - there is to much going on and I don't have time to read through it all.
What is going to go wrong next?  Welcome to Mexico! |
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| Closing questions, documents, Fideicomisos etc. | |
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