There’s nothing quite as promising as the condition of the Mexican real estate market scene, let alone the real estate scene of the premier oceanfront vacation destination in Latin America, the jewel of the Baja: Los Cabos. Construction projects here and there, beachfront resort properties for sale (or rent) everywhere! There’s a reason why Cabo keeps making headlines worldwide as both the quality location to be and a high-end investment to make.
However, all this comes off as a double-edged sword. Where there is a market of opportunity and honest people looking to make some genuine deals, there’ll be plenty more no-good swindlers raring to bite off a chunk out of that promising, high-end oceanfront real estate cake.
Now, corny food metaphors aside, you need to watch your step in the Baja real estate scene, whether Cabo San Lucas, San Jose del Cabo, Todos Santos, East Cape, the Cabo Corridor and so on.
Keeping your head in the game 24/7 in Baja California Sur is vital because the least you want is to come across a fantastic quality deal, be it a beachfront home or condos, sign those papers, shake those hands, and then, nothing, zero, zilch, nada. You’re left empty-handed, money thrown into a pit with no way of getting it back.
Of course, you can’t let some bad apples ruin what’s one of the most booming real estate scenes on offer this side of the Baja, absolutely not. I will teach you the top 5 ways to leave those fraudsters with their jaws slacking until next Sunday. Let’s get to it!
Never Sign a Real Estate Deal with Someone you Can’t Contact Easily.
You need to know who you’re dealing with, their papers, qualifications, real estate company, everything. Someone dodgy with questions, calls, or even face-to-face exchanges, instead of making things as quick as possible without intermediaries, is very likely to be a fraud, and you should steer clear. Quality speaks for itself just as well as honesty.
Always Check the Overall Prices of the Real Estate Developments of the Area, AKA Too Good To Be True
Suppose the property’s price is too reasonable to be accurate, i.e., lower, far lower than the location average—especially those living quarters of pristine, luxury condition. In that case, it’s almost 99% likely for it to be a scam. Yes, even if it’s a dream beachfront home for sale near Cerritos beach for an unbelievable price. Too many benefits for too low a cost usually spell out trouble.
As a rule of thumb, if a property’s cost dips lower than 10% compared to the rest of the nearby properties, sale or rent, home, resort, or condo doesn’t matter. You should probably get out of there as soon as possible, especially in the case of high-end, luxury BCS properties. Given the demand for this lifestyle, seeing reasonable offers for living areas should be cause for scrutiny.
Never Say Yes to Advance Payments For Real Estate Deals Ever
Good news, the guy’s honest, he answers your calls and is even out in the open about paperwork, and he’s even got this sweet deal for a luxury, high-end resort near Pescadero. All there’s left for you is to pay him the adequately priced property cost in advance. Right?
Nope. That hypothetical someone could have walked out with your money just now!
Never accept an advance payment deal, ever. It doesn’t matter if the guy (or gal) goes, “I need it for legal processes or to fulfill whatever condition,” or “you need it not to lose your chance at the property.” That’s as ruby red a flag can get, and chances are you won’t see them ever again.
At least not living around the BCS area anyway.
You, the buyer, only need to give any money until after the seller signs the buy/sell/rent contract, and only if a notario (Mexico’s public notary and the law’s hand in the matter) is present during the process. Otherwise, don’t even bother. Find your slice of the Cabo lifestyle somewhere else. Quality locations are plentiful, and sound and honest deals are.
Always Double-Check the Legal Status of the Real Estate Property or Development
Always, and I mean always, check on the paperwork, be it tax payments, day-to-day services, vouchers, and primarily debts. Mexico takes its legal processes very seriously, especially in flourishing, quality areas like Cabo and its neighboring oceanfront getaways.
If there’s one thing the real sneaky ones like to do, leave you a little, long overdue present for you to find after the handshake since they can follow through on all the natural processes without ever mentioning that tiny little detail of the development. They can be pretty good at it too.
The best way to deal with this nonsense is to get yourself a predial ticket from the Registro Publico de la Propiedad (the public property registry in Mexico). This neat little thing will give you all the information about the property and its location. Should any of these details not align with the rose-tinted picture painted for you, then it’s probably best for you to look elsewhere.
Always Look Up the Supposed Real Estate Agency
Last but not least, you should always take measures to verify that those handling the deal turn out tried and true. A person is one thing, a supposed company another.
Double-check for all the legal requirements. Consult friends in the business living around the Baja location (not related to the agency in question, of course), and, overall, shield yourself with a robust set of questions that, should the agency not be able to answer, will tell you whether or not the deal is worth it.
Always Keep Your Head in the Game When Looking for a New Beach Home in BCS
It’s easy to get caught up in the BCS, Mexico lifestyle. The excellent weather, the beaches, the resorts, the golf courses, and all those luxury beachfront homes. It makes the market feel much like the rest of Cabo, with little to nothing to worry about it, the relaxation being atop the priority list, much like a good old fishing trip to the coasts of the Marina.
Easy isn’t it? So yes, don’t. The easier it is to forget about the yes and the no, the easier it is for others to take advantage of it.
Please take what you have learned from this article and keep it close. Baja is a land of opportunity and luxury real estate market growth, but just because it is, doesn’t mean you should think that it’s going to be smooth sailing from here until you get the deed to that top-notch condition oceanfront home.
Keep your head in the game. It makes all the difference.
