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What is due diligence in Mex?

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What is due diligence in Mex?

Postby Rex Bear » Sun Nov 19, 2017 2:10 pm

I have bought,sold and rented property in the US and know what due diligence is here but what does that mean in Mex? I would like to rent a house/apt. in the old town/romantic zone this spring but what do I need to do to make sure I get what I pay for? I see many places on Craigslist but I am concerned that I may be cheated. I would prefer to rent from a third party company that would ensure a fair transaction, any ideas? I see many real estate companies but they want to sell or rent in higher cost areas. What is the role a notary in Mex.? In other posts I see people saying to use a notary.
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Re: What is due diligence in Mex?

Postby freeeye » Tue Nov 21, 2017 12:40 pm

A few hints:
Never rent a place without seeing it in person. I had a friend that found what seemed, on line, as a perfect rental and I checked it out for him. It was on a short, steep block that almost every bus (including the ones with jake brakes and worn disks) in town used day and night.

Check out the neighborhood in the daytime and nighttime.

Make sure that everything you want is included in a written agreement. Don't assume that anything (such as electricity, water, etc) is included in the price.

Notaries are like lawyers. Finding one to trust is as difficult here as in the states.
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Re: What is due diligence in Mex?

Postby Rex Bear » Tue Nov 21, 2017 6:31 pm

Thanks for the reply, I will be in PV in Jan next year and will look at some places. I know what you mean about noise, Mexico can be very noisy. I stayed at a place that was on a main bus route and constant traffic nearly 24 hours a day, I used earplugs and managed but I learned a lesson.

I guess I was looking for a way to hire someone to translate contracts and vet owners, someone that has a reputation that is verifiable. Is there a way to find such a person? I guess it could be a buyers agent. Is airb&b a good place to look? what about Craigslist, that seems riskier.
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Re: What is due diligence in Mex?

Postby kcowan » Wed Nov 22, 2017 8:21 am

Jim Scherrer is a local buyers agent who has survived for many years by representing the buyer. He primarily deals with purchase but might spend some time if purchase is a possibility in the future.

pvjim1@gmail.com
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Re: What is due diligence in Mex?

Postby waltandjean » Wed Nov 22, 2017 9:38 am

Ditto everything Rick said.
If you are the type of person who asks someone else to find you a date then by all means, look for that person. If you like to find your own dates, look for your own rental. A lot easier to dump a bad date than a bad rental.
That's due diligence. :lol:
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Re: What is due diligence in Mex?

Postby Rex Bear » Wed Nov 22, 2017 12:12 pm

Thanks for the name. I will not bother him until I have decided what I will do and when. I would like to move next year but my parents are still alive and they need my help. I have been to PV over 20 times and love it. While I speak very little Spanish I manage to get around just fine. I think PV might be a good fit for me part time and maybe full time. Thanks
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