Joanne Musa asked:


My main wealth building strategy has been investing in tax liens. Now I love investing in tax liens for lots of reasons. You can watch a short video about Why Invest in Tax Lien Certificates on my web site at TaxLienLady.com. But I’ve always wanted to be a real estate investor. Regardless of what you may have seen on a late night infomercial, tax lien investing is a great wealth building strategy but it’s not a good way to purchase real estate. In my experience a tax lien on a good piece of property will almost always redeem. That means that you don’t get to foreclose on the property. What you do get is a great interest rate on your money.

The problem with investing in real estate as a wealth building strategy for me has been that usually you need a lot of money, so I’ve been researching ways to purchase real estate without having to put down a lot of money. After all, I’m used to investing small amounts of money at a time – in tax liens.

We finally did purchase our first investment property. We bought it at a real estate auction and got a great price. But what a rude awakening when we went to get the financing! Things have really changed in the past few months when it comes to getting a loan. Sure there are still some great programs out there for first time home buyers and even for people who are not first time buyers, but are purchasing a home to live in. The problem is that banks do not really want to lend to investors.

Fortunately my husband and I have a really good mortgage broker and a good credit scores, but we still had to put 20% down in order to secure a mortgage on this property. Last time we applied for a loan on an investment property (on a house that we ultimately decided not to purchase), we only had to put 10% down and we were able to lock into an interest rate 1% lower than what we were able to get now. And that was only about four months ago.

Because we intend to purchase more than one investment property, we realize that we’ll have to find another way to buy properties other than getting a conventional mortgage. Now I’ve been to various real estate trainings for different methods of purchasing real estate. I’ve taken trainings from different experts on short sales, subject to deals, foreclosures, etc. But I haven’t actually purchased a deal using any of these methods. Most of them, except for purchasing property “subject to,” require that you have some cash, which I won’t have after we close on this property. So my focus now is to purchase investment property without using my own cash and without bringing in other investors.

Even though I have taken courses on how to purchase property “subject to” the current mortgage, the method that I learned did not really work in my state so I abandoned this method before I even tried it. Then I heard a tele-training with Wendy Patton on lease options and subject to deals on REIBlueprints.com. I wanted to listen to the training because we intended to sell the property that we’re purchasing using a lease option, and I thought that was what this training was about. But it was actually about how to purchase properties using lease options and subject to deals without having to put any money down.

Wendy was awesome! I just had to have her training course that consisted of 4 separate real estate investing courses: Buying with Lease Options, Selling on Lease Options, Working with Realtors, and Taking the Deed Subject To. Wendy offered these 4 courses and personal coaching with her for under $1000. I jumped at the opportunity to purchase this because I had spent more than twice at much for just one of those courses from other real estate gurus. The good news is that if you act now you can still listen to Wendy’s free tele-training with REIBlueprints.com, and get in on this special offer, but hurry because I don’t know how long this offer will last.



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Jodi Funke asked:


A short sale occurs when a lender agrees to allow a homeowner to sell their home for less than the amount owed on a mortgage.  Why would he do this?

How the Lender comes out a Winner

While it may seem surprising that lenders would accept less than they are owed, they do benefit from the process.  The lender is going to take a loss either way.  He might go through the long, costly process of foreclosure and then another long process of evicting the homeowner, fixing up the property, listing it for sale and ultimately selling it for less than he has invested.  His other option is to accept a short sale now, avoid the foreclosure process and avoid being stuck with a difficult to sell property.

How the Homeowner Benefits

A foreclosure is very damaging to one’s credit report; with a short sale, the homeowner is doing their part to meet their obligation to the lender while minimizing the damage to their credit history.

Great for the Buyer

Though the process of a short sale can be frustrating, the buyer benefits by purchasing real estate at a reduced price; often for pennies on the dollar.  Buyers who are looking to negotiate a short sale should work with real estate professionals who are experienced at handling these transactions.

Sometimes the buyer is one who will be fixing up the home for their primary residence.  Often, the buyer is an investor who is looking to “flip” the property for a profit.  Lenders who accept a short sale frown on investors who profit from the very property that they took a loss on!  This is the reason for seasoning requirements; owning the property for a certain length of time before reselling.

Jodi Funke is the founder of http://www.cashforshortsales.com a company who specializes in short sale transactions.  Jodi is a transactional lender who provides funding for the investor to purchase a property on a short sale and sell the property for a profit the same day.  Their team of real estate professionals, attorneys and title companies are experienced at handling these transactions while working at the highest level of integrity.



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Matinez asked:


Gurgaon real estate is one of the most sought after properties due to its diverse facilities and proximity from South Delhi. Construction Company and the developers of the real estate in Gurgaon are offering properties for almost every section of the people and these properties have featured with rich accommodation at affordable rates. Individuals can invest in Gurgaon real state in number of fields that include apartments, commercial property, residential flats, agriculture land and industrial space.

    

 

The Initiative of investment taken by Haryana government in Gurgaon has shown incredible results as a number of knowledge based industries reached in the region such as IT services, et cetera. This initiative has been created demand for office spaces to residential properties. For developing commercial spaces, a number of developers involve including Suncity Projects Ltd, Unitech, Vipul, Vatika, JMD, DLF, Omaxe, Parsvnath and so on. 

 

Availability of office spaces in commercial buildings and commercial centers, such as IMT Manesar, Pace City, InfoCity and Udyog Vihar have made Gurgaon commercial hub of India. Sohna Road of Gurgaon is also popular for having office spaces developed by developers that include Spaze, Bestech and Omaxe. Known as corporate hub of Gurgaon, Golf course is very popular for its sundry corporate buildings such as Augusta Point, Global Foyer, Centrum Plaza, Orchid Square, Vatika Towers, Vipul Tech, et cetera. 

 

Popular as Electronic City of Delhi/NCR, Gurgaon has become hot spot among real state agents and property dealers due to the appearance of the diverse software companies. Owing to increasing demands by people, there are a number of projects planned to fulfill requirements of residential and commercial properties. Keeping in mind demands of properties in Gurgaon, various property dealers are selling and arranging properties which are situated near the highway or the city.   

 

The real state of Gurgaon is not only booming as Gurgaon-Faridabad Road is also got a attention by many real state developers. It means that the road will be developed near future. The USP of real state in Gurgaon is that the region is the best place for making new residential and commercial constructions. With the increasing a number of residential and commercial projects, it is estimated that the city will be ranked as a number one high tech city. If you are planning to invest in Gurgaon, then apply through internet and get a deal which is suitable at affordable rate.



[La Mirada Real Estate]

Escapeso Austin Real Estate asked:


First off, watch some late night infomercials on TV. And possibly order some real estate tapes from Carlton Sheets. This will provide you with a positive upbeat attitude and a sense of false confidence that is essential in order to go bankrupt. Believe that after listening to some tapes, you can compete with people that have done this 7 days a week for years.

Second. For your first investment, buy in a city you know little to nothing about and avoid using a buyers agent who does know the city. Go directly to the sellers agent. The best way to make a truly horrible decision is to avoid any outside advice. The best part of this is that avoiding a buyers agent usually doesn’t save you any money since the selling agent simply makes more when you deal with them directly.

Look for a discount or a distressed property over a good long term investment. Late night infomercials and Carlton Sheets talk a lot about this. Getting equity at the point of sale. One thing about distressed properties with desperate sellers is that they frequently are in crappy areas with low appreciation rates. Buying a property at under market rate in an area with low appreciation potential versus a property in a good area is the kind of short sighted thinking that will really help you reach the goal of bankruptcy and foreclosure.

When you talk to people including your realtor, try to spend time talking about all the crap you learned from your book or light night infomercial. The more you listen to other people, the more you might get different perspectives and the higher chance you might learn new things. This could really hurt your chances of going bankrupt so avoid listening to anyone. Remember you know everything even if you only got interested in real estate last week.

Be positive to the point of stupidity. Alot of investors I know always think about how their situation would be affected by a 10 or 20 percent drop in the market before making a purchase. You should avoid this kind of thinking. You need to be blinded by greed. You should only fantasize about how you are going to double your money.

When calculating your monthly cashflow, assume that you will have 100% occupancy all the time and no maintenance cost. While you are at assume that its going to rain money tomorrow.

Also, be stubborn when renting your properties. Decide upon a number say $900 a month and refuse to budge. Come up with some bizarre logic about how the property deserves $900 a month. Lose months of rent having the property sit vacant instead of going down $50 on the rent. Instead of responding to the market make statements like “Well the markets wrong then”.

As you move closer to foreclosure, don’t alter your spending habits. Don’t move into a smaller house or cut spending. Act like nothing is wrong.

Overextend, overextend, overextend. Are you approved to buy one house. Why not buy 5, heck why not 20. Instead of building up a portfolio of properties over time, gaining experience along the way, just buy alot of properties next Tuesday.

Alot of people are getting into the foreclosure game. Their is no reason you should be left behind. Throwing caution to the wind and filling your eyes with greed and you should find yourself walking down the golden path to foreclosure.

This is not a definitive guide to foreclosure. Alot of people end up in foreclosure due to many things unforeseen events like unpreventable family illness, divorce or job loss. This is simply a guide to what I call elective foreclosure.



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Gordon Hall asked:


 

Have you ever met a retiree who always seemed contented and always seemed to have money to burn? They always seem to have a smile on their face don’t they. They probably made their retirement money with a self directed individual Retirement Account or IRA, and possibly pointed their IRA towards real estate. If you can read on for a few minutes, I will try to point you in the right direction, so you too can have a smile on your face when you are purchasing real estate in your IRA.

 

When you add the benefits of a self directed IRA with your knowledge of real estate, The government in its wisdom, allows you to attract a tax rebate for every dollar you put into your IRA account in the year that you put it in, and you don’t have to pay any tax on your profits until you withdraw the money in your retirement. This means you have the power of compound interest working for you over and over again. The ROI is based on your knowledge of real estate and not on the yo yo effect of the stock market.

 

How Do I Purchase Property In Self Directed IRAs?

This is one of the most commonly asked questions your management trust is asked.



Open an account with your management trust, and fund the account through a rollover, cash contribution or money transfer.



Find the property you want to invest in, making sure you follow all the self directed IRA rules. Your management trust will guide you in following the rules.



Complete all the necessary paper work that your management trust will give you.



Check that the proper titles are on your paper work. Your management company, your name, IRA etc. It will all be laid out for you. The catch word is simplicity.



Make sure that all payments to and all expenses go through your IRA. When you are ready to sell your investment ie your property, your management trust will supply all the paper work, and will work with you and your title company/closing attorney to complete the transaction. All the profits from the sale are tax free and they go back into your IRA for your next investment.



 

Purchasing real estate in your IRA

The following are some prohibited transactions with a self directed IRA:



You can not buy property for personal use (present or future) with IRA funds.



You can not buy property from any of your family members or relatives.



You can not use your IRA as security for a loan.



You can not borrow money from your IRA.



You can not sell property to your IRA.

 



This is worth repeating, ie when purchasing real estate in your IRA, funds must come directly from your IRA. Your trust manager will send the funds directly to the title company/closing agent/attorney as per your instructions. Any expenses related to your IRA investment must be paid from your IRA and any income must be paid into your IRA.

 

There, that wasn’t too bad was it? Purchasing real estate in your IRA is really quite simple. There is a simpler more turnkey approach.

Go to the resource box at the bottom of this article and click on the url and go to my website. You will find more information on real estate investing there.

 

 



[La Mirada Real Estate]

Kris Koonar asked:


Florida, popularly known as the sunshine state, holds a lot of appeal for real estate investors. There are some basic factors that must be kept in mind before you decide to buy a real estate property in Florida:

Location: It is very important to identify the right property before you invest. A number of locations in Florida may not be worth the effort. If you are planning to purchase real estate in Florida then be aware of the companies who highlight properties that will fail to offer any value for your money. Never buy the property without viewing the location personally, since everything in Florida may not be an attractive investment opportunity.

Amenities: A realty property with amenities is considered a good investment. If you are purchasing a resort that is in the middle of a farm land, then you can not ask for anything more. A property in Florida next to the Disney World, a beach or a casino will be a profitable investment option. When you are looking for a realty in Florida, do not forget to keep the amenities in mind

Timing: Make sure that you buy real estate at the right time. You may have to pay more for the same property if you do not purchase it in time. The value of a property in Florida keeps rising. So make sure that you do not delay the purchase once everything has been finalized.

Research: The system, customs and laws for purchasing a property in Florida may be different from those in your country or state. It is advisable to conduct research before investment. You can take the help of a professional realty advisor, agents or brokers. Every property in Florida is listed on a central database system. A proper appraisal and research done on the property will make the purchase simple. Ask as many questions you can, but try to avoid too many opinions.

Real estate agents: Take help from an agent instead of doing everything on your own. There are more than a million licensed realty agents in America. Some agents may not brief you on the requirements and implications of taxes, home inspections or insurances. They may misguide you with impressive advertising and presentations and try to persuade you into buying the wrong property.

Negotiate: Make sure that you have the financial resources to buy the property. Once the appraisal is over you must make your own offer and even try to negotiate.

Resale value: Before taking any decision, think over the resale value of the property you are purchasing.

Cost of living: This is an important issue that must be kept in mind before purchasing realty in Florida. For instance, Orlando is among the states that have the lowest cost of living in America. Cost of living is an important factor because a property may be desirable, but if the basic necessities are not accessible or expensive, the property can lose its value.



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Deirdre Gonzales asked:


It is no hidden fact that, for most Filipinos, real estate is expensive. But since it is a very good investment, many are interested in purchasing. Of course, there will always be people and companies who are greedy for money. And they will do everything to make you fall into their traps and scams. Free yourself of burdens by doing it the right way. Real estate offers greater profit potential compared to most forms of investment. Do not let the nightmare of buying a property whose title would be in the hands of other people in the end, or of buying a property that is not worth of your money.

Since the process of buying a real estate Philippines is a very emotional experience, you should always be at your guard and stay detail-oriented. There is no need to search anymore for an affordable place to live or retire without sacrificing current lifestyles. Real estate Philippines is the ultimate place. Careful study should be done before finally deciding to invest. Know the background, contact information and business address of the company you will deal with. And always check if the person who claims to be part of the company really works there. You can see in his/her proper identification card if it is still valid or expired. Double check the name of the person in the company list. Do not sign any document unless you have not read it thoroughly. Usually, a lawyer is the best person who will help you review the documentation. The title of the property should be clean and an official receipt should be given after the purchase has been made.

Basically, you can finance a real estate purchase in three ways. These are via spot cash, deferred cash payment, or long term financing. Each of these has some advantages and disadvantages. Spot cash payments are usually done if the property was purchased directly from an individual. Using this financing scheme will make you get hold of the necessary documents in a short span of time. But if the property was purchased from a developer, long term payments can be availed. The deferred cash method is like an instalment payment but without the discounts and interests. Just like spot cash, you can have the important documents in a short period of time, depending on the agreed upon time-frame with the developer. Lastly, as the name implies, long term financing allows you to complete the payment in a longer period. But interest rates apply. The contract price is divided into the down payment and the financed amount. Payment rates will depend on your employment, income or business standing. While this option can make you feel that your payment rates are light and easier on the budget, your total payments are actually more expensive. You will realize such in the long run.

Find the security and refuge you need and want by doing your job of a little researching in real estate purchasing. And remember the safety tips mentioned above to stay away from living a life full of nightmares. The money you cashed out in buying your own property is a product of hard work. Do not let it all turn to dust.

Visit the website http://www.atayala.com.



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Real Estate Advisor asked:


When you start the process of buying a home or any type of real estate, you’ll no doubt hear the term “earnest money deposit” (EMD). So what exactly is an EMD?

An EMD becomes relevant when you are ready to make an offer on a property. In most states, your Real Estate Agent prepares the offer on your behalf. The offer usually takes the form of a written contract that is submitted to the seller by way of their agent.

In addition to the offer document, sellers typically expect an EMD. An EMD is a monetary deposit submitted via check to demonstrate to the seller that you are a serious buyer. In some regions of the country, only a photocopy of the check is submitted with the offer, and the original check is delivered to the appropriate entity if the offer is accepted. Ask your Real Estate Agent to clarify how deposits are handled in your region of the country.

The check is usually made out to an independent third- party such as a Title Company, Escrow Company, Real Estate Attorney or your Real Estate Broker. Ask your Real Estate Agent to clarify who will hold the EMD.

The amount of the EMD sellers expect varies by region. The EMD amount is based on the customs and practices for a region, but is generally from 1% to 2% of the purchase price. In a competitive market place where demand exceeds the supply of homes, some buyers may offer a higher EMD than expected to impress the seller of their intent. In determining the amount of your EMD, consult your Real Estate Agent and balance the need to demonstrate your serious intent, against the good business practice of minimizing the deposit amount.

The amount of the EMD is usually applied to reduce the purchase price of the property or to cover closing costs, as you dictate. For example, if you are purchasing a $300,000 property and you give an EMD of $3000, then the remaining balance owned at closing is $297,000 (plus closing costs). Alternatively, you may direct that the EMD be applied toward the closing costs.

Once a valid contract for purchase is created, an independent third-party usually holds the EMD until the purchase is either completed or cancelled. At this point, the money belongs jointly to both the seller and the buyer.

In cases where you make an offer that is accepted but later decide to cancel the offer, the terms specified in the contract (or state law) will dictate if, and under what circumstances, the EMD is returned to you. Be aware that you could loose your deposit if you do not not comply with the terms of your contract. Your Real Estate Agent can provide you information about how EMDs are dealt with if a contract is cancelled.

Since state law varies by region and practices can differ even within the same state, be sure to consult your Real Estate agent about the rules that apply to EMDs in your region of the country. You should also be aware that the EMD is not related to any down payment that you make toward your home loan.



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Jim Scherrer asked:


So, you’ve reached a point in your life where you think that you’ve learned a little about business, finance, contract negotiating, real estate, etc. and have at least a layman’s knowledge of law pertaining to each. Being that savvy, you might also be aware of the incredible retirement locations and values south of the border; furthermore, you might even be considering Mexico as your retirement destination. If so, you might as well forget everything you’ve learned and leave your law degree at home!

Mexico, as beautiful as it is, has a somewhat different way of doing business and a completely different set of laws. Additionally, all legal transactions, including real estate transactions, are done in Spanish. Therefore, for those of you that may be considering locations in Mexico as possible retirement destinations, the following information should give you some insight as to how the Mexican real estate industry works, list some of the possible pitfalls, and most importantly, give you the guidance required to assure a pleasant and safe experience.

In 1984, we made our first real estate purchase in Puerto Vallarta; a condominium in Mismaloya, about seven miles south of town. Our second purchase, two years later, was the adjacent condo. A year later, we removed the wall between the two condos and remodeled them into one very spacious three bedroom condo. For thirteen years, while still working in Houston, we thoroughly enjoyed visiting Vallarta two or three times a year.

At some time after the purchases of the two condos, we noticed that our original escrituras (legal property documentation similar to a title or deed that is held in a fidecomiso or bank trust) showed the property values to be about one third of what we actually paid for them. When we inquired about the discrepancy, we were told that the lower values were used in order to reduce our annual property taxes.

It wasn’t until many years later, when we decided to sell the condo, that we learned that capital gains taxes were due on the huge difference between the selling price and the documented purchase price. Ouch, we owed substantial taxes on a paper gain, when in fact; there was very little real gain! We then learned that the condo developer entered the extremely low sales prices on all the escrituras in the condo complex in order to evade paying substantial capital gains taxes. As we later learned, the developer could have entered the selling price, the appraised value, his cost of construction, or just about anything imaginable into the escritura, and we, being the naïve Americans that we were, were at his mercy!

Upon the sale of the condo, we bought a beautiful new mountainside villa with a panoramic view of Banderas Bay, El Centro, and the Sierra Madres. We saw the new villa advertised in one of the local magazines and asked our realtor friend to show us the property. He showed us what seemed to be every property in town, before reluctantly taking us to see the villa in the magazine. Some time after buying the villa, we learned that our realtor friend received only 10% of the commission on the sale because that was all the listing agent was willing to pay. The listing agent ran the ad in the magazine and didn’t feel that an agent representing a buyer was necessary in order to sell this beautiful new villa. Therefore, our agent spent a couple days showing us nothing but properties listed by his agency before caving in to our demands and taking us to the villa of our dreams; one that we have thoroughly enjoyed for more than a decade.

These experiences revealed the tip of the real estate iceberg and after living here for ten years, we’ve finally been able to expose the entire iceberg and share some of the details below.

To begin with, there are no licensed real estate brokers or agents in Mexico! In fact, there is no mandatory licensing for real estate agents in all of Mexico because the Federal legislation process has yet to accomplish it and therefore such legislation remains in limbo. In Puerto Vallarta, where there are in excess of 80 real estate agencies, there are probably more than 500 real estate agents with minimal qualifications. With the booming real estate market and economy that exists today, it’s quite obvious why we have such a diverse group of agents and brokers in Vallarta.

In order to have some degree of continuity from agent to agent, a voluntary association for real estate personnel exists in various areas of Mexico. The Asociacion Mexicana de Profesionales Inmobiliarios A.C., known as AMPI, is quite active in Vallarta with the membership of approximately 50 of the 80 real estate agencies in Vallarta. Although membership in AMPI is not compulsory and has no bearing on the capabilities of the agents representing the buyers or sellers, it is considered to be the standard bearer for listing agents in the area.

A second real estate association, mainly consisting of Mexican agencies based in the Vallarta area, is Asociacion de Profesionales Inmobiliarios de Vallarta A.C., known as APIVAC.

These associations schedule periodic conferences, conduct educational programs, and hold various meetings where they attempt to keep their members and the public current on activities in the area as well as changes in the Mexican law as it pertains to real estate. They have codes of ethics and they do attempt to establish uniform sets of operating policies and procedures, some of which are in writing, others understood but not documented. They bring real estate personnel together where their members voluntarily agree to abide by their organizations´ statutes and codes of ethics while attempting to operate with some degree of continuity and professionalism. For sure, these associations are better than nothing but still not to be confused with associations such as the National Association of Realtors or NAR in the US. Dual agency disclosure, designated agency, full disclosure, confidentiality, imputed knowledge and notice, implied knowledge, fiduciary duty, loyalty, and vicarious liability are foreign concepts to the majority of real estate agents in Mexico. Consequently, misleading or inaccurate statements often made by many of the agents can put both the buyer and seller in intolerable predicaments in Mexico.

Although AMPI and NAR do have a working relationship, one example of the differences between AMPI and NAR is that NAR provides its member agencies with standard statewide listing forms, pre-qualification forms, escrow account and earnest money forms, standard purchase agreement forms, letters of intent, etc. In Vallarta, there are no such forms provided by AMPI or APIVAC. Each real estate agency has its own listing form or uses a form provided by an outside privately owned publisher, which clearly depicts the listing agent as receiving 100% of the commission upon sale of the property. Also, NAR has written and enforceable guidelines regarding the handling of commissions and the sharing of commissions between the selling and buying agents. Although there are guidelines in Mexico for real estate commissions, they are still flexible, and to some degree negotiable with the seller. The listing agent can then negotiate commission sharing with the buyer’s agent.

All other forms vary from agent to agent and are not necessarily written in the best interest of the buyer. Also, most forms and contracts for North Americans are in English; however the Spanish version is the only document that has any legal standing in Mexico. Therefore, regardless of what you read in English, a Spanish speaking attorney should always represent you along with your agent.

Another major difference between the Mexican based associations and NAR has to do with the Multiple Listing Service or MLS. In the States, the MLS is controlled and monitored by NAR and is available to all NAR agents. In certain Mexican cities, including Vallarta, there is an MLS; however it is not controlled by AMPI or APIVAC. Instead, it is privately owned and operated by a local publisher and is available for property searching to the public at no charge. AMPI members are able to list their properties on the Vallarta MLS, with the general public as well as the other AMPI and APIVAC members having access to the listings.

Once you understand the inner workings of the real estate industry in PV, you need to learn a little about Mexican real estate law. It can be quite complex regarding trusts, escrows, mortgages, treatment of taxes, etc. and is often open to interpretation by a state appointed attorney, known as a notario. A small percentage of the realtors in Vallarta have a fair understanding of Mexican law as it pertains to real estate transactions; however the vast majority of them are sorely lacking in this field. Even with little or no knowledge of the law, they will be anxious to advise you, right or wrong; therefore, the best law to follow is caveat emptor, or buyer beware!

Because of the many pitfalls that a buyer can encounter while purchasing real estate in PV, we learned over twenty years ago that it is wise to interview realtors with scrutiny, keeping in mind that most all will be promoting their own listings first and meeting your needs second. It’s just human nature and with virtually no control in Mexico, it’s pretty much assured. Also, because almost 100% of them have listing agreements with the sellers, they are legally bound to act in the best interest of the sellers, and not necessarily in the buyer’s best interest. Because the buyer usually has no contractual agreement with the realtor, he will in all probability get the “short end of the stick” in this conflict of interest.

Of all places, in Mexico you should select an agent that is 100% dedicated to helping you find the property that meets your needs and satisfies your requirements; preferably, a contractual agreement with an agent with no listings, no axe to grind, no ulterior motive, and is exclusively representing buyers and their best interests.

A true buyer´s agent in PV should have no property listings, should have complete access to the Vallarta MLS, should know the areas and growth trends in and around Vallarta, should be able to professionally negotiate on the buyer’s behalf, should have a decent understanding of Mexican real estate law, should have a working relationship with the local notarios, real estate attorneys, escrow and title agents, mortgage bankers, insurance agents, inspectors, appraisers, and lastly, your representative must have a thorough working knowledge of the local real estate industry and understand the idiosyncrasies associated with it.

Buying your dream home or condo in Vallarta should be one of your best experiences, however without due diligence, it can be a nightmare. Obtaining an exclusive buyer´s agent with 100% dedication to you is a prerequisite for assuring a pleasant beginning of your retirement in Paradise.



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Real Estate Advisor asked:


Wealthy home buyers who buy multi-million dollar homes are typically self-made millionaires with new money, according to a recent online survey of 683 Coldwell Banker Previews International property specialists. The study revealed the top professions of these affluent customers. According to the respondents, 88 % of their customers are business or corporate executives, 37 % are physicians, 31 % are lawyers, 30 % are financial professional and 14 % are entertainers, entertainment executives or professional athletes.

Wealthy home buyers require their real estate agents to be equipped with special skills, according to the Coldwell Banker’s survey. Given the magnitude of the financial transactions involved in luxury home purchases, 78 % of sales associates said that the top most need their clients require from their real estate agents is privacy and confidentiality. The luxury customers also want their real estate agents to exercise discretion while dealing with their multi-million dollar transactions. Almost 70 % of respondents polled that their wealthy clients want their real estate professionals to offer customized services while 44 % said that the luxury home buyers want their agents to have good network and work relationship with executive assistants, CPAs and attorneys.

Wealthy home buyers also want their agents to know the inside scoop on the real estate market, according to 36 % of the respondents in the Coldwell Banker’s survey. Seventeen percent of the sales associates surveyed indicated that one of the necessary skills for real estate professionals working with affluent customers was the ability to provide emotional support to their clients. And according to 11 % of respondents, luxury customers want their real estate agents to establish personal rapport with their clients.

The study also included queries on the “must have” amenities that the affluent clientele want in their luxury homes. Wealthy home buyers want media rooms in their homes, according to 60 % of respondents and another 60 % polled that their affluent customers want “wired” homes. However, there are a few home design elements that are out among luxury home buyers. Gourmet kitchens, granite countertops and wet bars are no longer counted as luxuries by wealthy home buyers, according to the survey respondents.

The survey also found that the multi-million dollar home buyer pays a typical down payment of 20 % to 30 %, while a quarter of clients put down 30 % to 50 % of the sale price.



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