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Real Estate Musings

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barquentine
  10/20/2019 11:50 EST

#1: What they say and what they mean.
"Your house has great potential."
= We'd like to knock it down and pay you just the price of the land.

barquentine
  10/20/2019 17:57 EST

#2. Essential information.
This link: https://blog.vivanuncios.com.mx/bienes-raices/especiales/impuestos-comprar-vender-inmueble/?utm_source=doppler&utm_medium=email&utm_campaign=20190328_BlogEspecial-01&fbclid=IwAR0uksGJIaiPmUoqI-hO1UXEV9taLRs5J28lthsiJJlkneTPYN-zKFTRoNM
has a lot of essential information on taxes, etc. but believe me, there is a lot more that people don't put in print. Notaries are not cheap but don't be afraid to shop around until you find one with the right price. Ditto regarding valuers.

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Welcome Home Mexico occupies a niche in the market as a successful relocation and real estate firm helping expats moving to Mexico! As seen on CBS news, PBS, in the L.A. Times and more, we are one of the leading companies in this field. Welcome Home Mexico offers a wide range of services, multi-lingual knowledgeable brokers with experience, efficient and professional service.
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barquentine
  10/22/2019 11:07 EST

The two percent.
The agents say, the total price is the price of the land plus the value of the construction.
BUT then they apply 2% depreciation per annum. I'm not sure if this is simple depreciation or compound depreciation. If simple, we can see that any house 100 years old would be worth NOTHING, The compound depreciation formula should be ValueNow=Original Value x (1 - r)^t where t is the number of years and r = 0.02 (in the case of 2% depreciation)
So, after 20 years the value will have dropped to 66.75% of the original price.

Retiree2
  10/24/2019 19:21 EST

https://www.publimetro.com.mx/mx/plus/2018/07/08/saber-cuanto-vale-casa-venderla-rentarla.html


The 2 percent depreciation is almost not valid in a property appraisal. Think in terms of sq. Meters of land, sq. meters of construction, type of construction, amendities, location, comprable sales prices, supply and demand etc. instead.

Rodrigo1974
  10/25/2019 18:13 EST

this is too risky and complicated, especially for a foreigner in mexico. just rent and invest your money in the stock market!!

barquentine
  10/25/2019 18:42 EST

Not at all risky. Complicated? Possibly.

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