Buying property - need advice

[Belgianboy]

Given my realtor never can give me an answer, and when he does, nothing matches with reality, I am turning to the forum for some actual help.

Situation

agreed to buy a lot on January 5th and signed papers
proposed closing date end of February
realtor had us setup LLC in AZ, translate it
paid deposit
I asked if a visa was required , but he said no, FFM is all you need, asked again few weeks ago and still same answer

Today ( yes almost 5 months after signing)

Got email saying we are ready to move for you
you need bla bla bla

and you need a Curb, basically a visa?

Can anybody help me and understand what I need to close this deal, am so ready to walk away from this mess, but want to give it one more try

do I need FMM or visa? the agency said they could assign a Mexican to sign the deed and then we only need an FMM? anybody any experience..

thank you all, appreciate it...

 

[mis2810]

I'm sure about the visa, someone else will answer that but whtever you do, DO NOT SIGN ANYTHING OVER TO ANYBODY. Mexican or not.

 

[Penasco Services]

Under Mexican law you are required to have a RFC (Mexican version of a tax ID number). To get an RFC you must have a CURP (a population registry number). To get a CURP, you MUST have a valid immigration status. The law has changed in the past year and gone are the days where you can transact a real estate deal with only an FMM. It is important to note that a Temporary or Permanent Resident card is NOT a visa, it is an immigration status.

Don't be lured into deals where a real estate agents attempts to skirt these requirements by having someone hold the property in their name or by keeping it in the master trust (by way using developer financing) Etc.

Anything short of a title in your name showing that you own the property outright or a title with a mortgage against it is illegal and may subject you to a future nightmare.

 

[Belgianboy]

Under Mexican law you are required to have a RFC (Mexican version of a tax ID number). To get an RFC you must have a CURP (a population registry number). To get a CURP, you MUST have a valid immigration status. The law has changed in the past year and gone are the days where you can transact a real estate deal with only an FMM. It is important to note that a Temporary or Permanent Resident card is NOT a visa, it is an immigration status.

Don't be lured into deals where a real estate agents attempts to skirt these requirements by having someone hold the property in their name or by keeping it in the master trust (by way using developer financing) Etc.

Anything short of a title in your name showing that you own the property outright or a title with a mortgage against it is illegal and may subject you to a future nightmare.

Thank you for this. I am a green card holder. If I understand CURB well it means you are immigrated which would impact my status. Is my assumption correct?

Thank you for the help?

 

[Kiter]

Uh oh. I was supposed to be closing next week, but just heard it will be pushed out to July 4. How and where do I get a 1) RFC, 2) CURB, and 3) valid immigration status? I have tried calling the Mexican Embassy in Phoenix, but all I get is a recording. I was told by seller and seller's agent I would need a visa and I could get that in Sonoyta. Advice is appreciated - thanks.

 

[Penasco Services]

Thank you for this. I am a green card holder. If I understand CURB well it means you are immigrated which would impact my status. Is my assumption correct?

Thank you for the help?

A green holder for what country? Your residence status in the U.S. has nothing to do with your immigration status in Mexico.

In Mexico there are only three types of status for foreigners or non citizens they are: Permanent Resident, Temporary Resident or FMM (FMM has several categories). If you were issued any long term status such as Temporary or Permanent Resident, the Mexican Immigation authority will obtain your CURP on your behalf.

You should also know that in Rocky Point there are countless people who think they have an immigration status only to learn that it has been invalidated for one of several reasons. Some people don't pick up their immigration cards once processed, others fail to renew them. Some people obtain an FMM at the border not realizing it invalidates their residence card (you can't hold two different status at the same time) while other ignore the laws to keep immigration informed of changes to their address, employment or seek permission to have employment in Mexico.

The number of people in Peñasco who ignore these laws is astronomical. Renting your Mexican owned property (regardless of what country you live in is considered employment) and even your bank trust needs to be written to allow for rentals.

If you do not have an RFC (Mexican tax ID) you can not legally purchase, or sell, any real estate in Mexico. Any "deal" not using an RFC is illegal and can cost you your entire investment. Developers can sell you a condo that has developer financing but realize this is an asset that remains on their books and is subject to seizure should they be sued. Just ask the people
who lost their condos at Bella Sirena when a creditor enforced a judgment against the developer Pelican Partners.

 

[Penasco Services]

Uh oh. I was supposed to be closing next week, but just heard it will be pushed out to July 4. How and where do I get a 1) RFC, 2) CURB, and 3) valid immigration status? I have tried calling the Mexican Embassy in Phoenix, but all I get is a recording. I was told by seller and seller's agent I would need a visa and I could get that in Sonoyta. Advice is appreciated - thanks.

Rocky Point real estate is a ticking time bomb and will implode for this reason. In order to obtain an RFC and a CURP you must qualify for either temporary or permanent resident status. This takes months to complete and the process starts at the Mexican consulate or embassy in your home country. Be sure to check the financial requirements for obtaining this status.

You can not obtain a "visa" at the border. The sellers agents are referring to an FMM (a temporary permission to enter Mexico). While this provides you with a legal entry to Mexico, you will not be able to obtain your tax ID with this type of status. The laws were changed in 2014 and all real estate transaction not using your CURP and RFC are illegal. It is not a legal defense in Mexico to claim ignorance of the law so buyer beware. Any real estate agent or other professional who tells you that you don't need this is either lying or does not care about your investment and will no doubt be long gone when your deal falls apart.

 

[Belgianboy]

A green holder for what country? Your residence status in the U.S. has nothing to do with your immigration status in Mexico.

In Mexico there are only three types of status for foreigners or non citizens they are: Permanent Resident, Temporary Resident or FMM (FMM has several categories). If you were issued any long term status such as Temporary or Permanent Resident, the Mexican Immigation authority will obtain your CURP on your behalf.

You should also know that in Rocky Point there are countless people who think they have an immigration status only to learn that it has been invalidated for one of several reasons. Some people don't pick up their immigration cards once processed, others fail to renew them. Some people obtain an FMM at the border not realizing it invalidates their residence card (you can't hold two different status at the same time) while other ignore the laws to keep immigration informed of changes to their address, employment or seek permission to have employment in Mexico.

The number of people in Peñasco who ignore these laws is astronomical. Renting your Mexican owned property (regardless of what country you live in is considered employment) and even your bank trust needs to be written to allow for rentals.

If you do not have an RFC (Mexican tax ID) you can not legally purchase, or sell, any real estate in Mexico. Any "deal" not using an RFC is illegal and can cost you your entire investment. Developers can sell you a condo that has developer financing but realize this is an asset that remains on their books and is subject to seizure should they be sued. Just ask the people
who lost their condos at Bella Sirena when a creditor enforced a judgment against the developer Pelican Partners.

Ok thank you, green card in us , meaning I have to be half the year +1 day here. I would assume Mexican immigration status has something similar

 

[Belgianboy]

Uh oh. I was supposed to be closing next week, but just heard it will be pushed out to July 4. How and where do I get a 1) RFC, 2) CURB, and 3) valid immigration status? I have tried calling the Mexican Embassy in Phoenix, but all I get is a recording. I was told by seller and seller's agent I would need a visa and I could get that in Sonoyta. Advice is appreciated - thanks.

guess you are in the same position as I am, months and months of work ahead of ya. PM me if you find anything out. I have meeting this morning with legal firm, however I probably will back out

 

[InkaRoads]

...."This takes months to complete and the process starts at the Mexican consulate or embassy in your home country". .

I got my Visa thru Nogalez, AZ Mexican Consulate, with all paperwork on hand took 4 hours to get my FMM, with which the whole process starts to get your FM2 or FM3, it is then that the MX gov assigns your CURB, then I went to Hacienda to apply for my RFC, I do not own any real estate here but the process is the same, at least to obtain the visa, might be faster or slower due to property involvement I don't really know.
Helps being bilingual for any type of communication, whether it is with the INM office or the taco vendor in the corner!!

 

[garyd]

Ask Sun Valley Visa for help. They are great.

 

[mexicoruss]

The rules are there as is the pathway. It is not like buying in the states but is as secure if you dont try to cut corners. There are firms to get you immigration papers in order just be patient and follow the path. Its easy.

Sent from my SM-A300H using Tapatalk

 

[sheep3mom]

The rules are there as is the pathway. It is not like buying in the states but is as secure if you dont try to cut corners. There are firms to get you immigration papers in order just be patient and follow the path. Its easy.

Sent from my SM-A300H using Tapatalk

There is an exceptionally helpful woman whose office is on Fremont close to Chef Mickey's. I wish I could remember her name - her building is painted red. She helped us with our Immigration status and was terrific.

 

[mexicoruss]

Dinora and Bianey at Sun Valley Services. They are very helpful and will answer your question uofront with no bs

Sent from my SM-A300H using Tapatalk

 

[playaperro]

Your gonna need an attorney to close the deal so why not start the process with one . He will guide you through the endless paperwork and fee's and he will be on your side from the beginning. Why let the other people use their's. He will have his people a notario and such so you don't listen to people on here that say you need some paperwork nobody's ever used.

 

[Kiter]

So given all of these new complexities, would you recommend title insurance or not. I've seen pro and con info on the internet. I believe my quote was just over three grand for a $165,000 property. Not sure what to do.

 

[playaperro]

Me personally I'd stay away from title insurance in Mexico. I'd just check that the notario has stamped every page and the title was not tainted at one time.

 

[PintoPoint]

We just got a certificate of clean title no insurance.

 

[marybna]

When we bought our first condo at Spa, you could get financing. I have a mortgage on my current condo at Bella. I was talking to someone that wants to sell their condo and he says there are no longer any banks like M&I that will finance in Penasco. He also said that if the project is not completed and there are unfinished units even private money is not available because of the liens. I know people are selling but unless they get cash, they must be financing them which you can't do if you got a loan on it. Some of us are getting up there in years and need to figure out how we are going to unload these places.