I am interested in buying one but am concerned about investing a large sum in Baja...don't get me wrong, I am familiar with the language and culture (fluent in Sp), but what happened a couple years ago in Ensenada where a few Americans lost their homes due to someone selling "Ejido" lands is scary to me. Does anyone know how reputable this place is? Maybe you may know someone who lives here and I would like to know their likes/dislikes regarding this place. It looks NICE and their brochures are fantastic, but I want to research this before I take the plunge... MANY THANKS IN ADVANCE!
<Dorado>
Posted
Are you buying or leasing. Are you securing a Bank Trust??
<thegarz>
Posted
Hi- Thanks for the quick reply. I plan on buying. I will probably cash out the equity of my home in California and purchase outright. No bank trust.
<Dorado>
Posted
Sorry for the confusion, what I should have said was leasing or buying via a fideicomiso. Unless the Mexican Consitution changed recently, you still must partner with a Mexican Bank to purchase property within the "zone".
Dorado
<thegarz>
Posted
I hold dual-citizenship (born in Mex. and raised in the USA). I don't think I need the fidecomiso...what is "the zone" anyways?