Regarding Unlicensed Real Estate Agents.
It is illegal to transact real estate without a license and there are fines for those who disregard this the highest being currently around $8,900 dollars for first-time offenders, (Baja California) Mexican or foreign, it applies the same. (Lucky for those arrogant seagull realtors which simply vanish, as they always have, how convenient).
There are so many unlicensed individuals (not limited to Mexicans) pretending to be professional real estate agents who can’t even logically explain what are the laws in Mexico governing the purchase of real estate by foreigners. What worries me more is the fact that their capacity to cause harm to unaware clients is so great and yet people don’t keep placing their trust on them to be sold down the river at some time, either by inexperience neglect or design.
A common problem surfaces when an “agent” advises a buyer to sign a contract altering the truth with the intent to have the seller save capital gains, (the two check strategy if you will), where one check is declared to the notary as the sale price for tax purposes and the second check given under the table is the difference that would make the gain taxable, the problem is that if the buyer is unaware of this he may take on the seller’s tax liabilities and even be liable for tax fraud, along with the seller.
So, let a professional agent find you a nice home in a good neighborhood but don’t allow the agent to give you legal advice, you may live to regret it.
Again, hold the hate mail, not every agent is a crummy one or one of those that incur in illegal activities such as those mentioned above (for which I have files and files of evidence), there are excellent real estate agents available, thus do your homework.
Check references, don’t’ just hire someone who sells the property.
Knowing Your Property Rights With Rafael Solorzano, attorney at law
The Mazatlan Post