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OUR EXPERIENCE IN CLOSING ON OUR HOUSE

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Post by johninajijic Fri Jun 14, 2013 4:45 pm

Our experience with the closing of the house.
You need your Passports and Immigration cards.
Beforehand, you will have presented 6 months worth of Electric and Telephone bills (3 billing cycles of Electric and 6 Telephone bills).
You need to present paid up water and property tax bills for current year.
If you live in a condo, your Administrator or Treasurer will issue a statement of fees paid up to date.
At the closing, you will need to present your Original Deed.

That's the easier part.

This could be the sticky issue!!!
If one of you has the Electric bill in your name. Fine, but it MUST HAVE YOUR PHYSICAL ADDRESS on it, not a P.O. Box.  That was OK. Ours had the physical address.
Your telephone bill must be in your spouses or partners name and MUST HAVE YOUR PHYSICAL ADDRESS ON IT.  How could we have a Physical Address on our phone bill when they don't deliver mail here at Los Arroyos.  Ours did not, we had a P, O. Box on it, so we were told that person would have to pay his share of Capital Gains.  Yeah right.  I said a loud BS.  We got around it. 

After signing about 6 copies of everything, the NOTARY asks for a May Bank  Statement.  We didn't remember if we had received one and I had torn up all the old papers the night before.  We went to the Mailbox and voila, the statement was there.

A final happy ending as the Wire Transfer went thru quickly the next morning.
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Post by Lady Otter Latté Fri Jun 14, 2013 5:14 pm

Congratulations, John! And, much joy in your new adventure.
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Post by slainte39 Fri Jun 14, 2013 5:14 pm

\"johninajijic wrote:
Your telephone bill must be in your spouses or partners name and MUST HAVE YOUR PHYSICAL ADDRESS ON IT.  How could we have a Physical Address on our phone bill when they don't deliver mail here at Los Arroyos.  Ours did not, we had a P, O. Box on it, so we were told that person would have to pay his share of Capital Gains.

That is easy also John...just go to Telmex and have them put your physical address right below your mailing address on the billing.  Been doing it for years...bill comes to A.P. in Chapala with a SAT home address right beneath it on the monthly bill.

Question: Why the current bank statement?

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Post by Ms.Thang Fri Jun 14, 2013 5:48 pm

Congratulations John! I'm happy for you....let the next chapter begin!

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Post by johninajijic Fri Jun 14, 2013 7:02 pm

I don't know the reason for the current bank statement.
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Post by martygraw Fri Jun 14, 2013 8:53 pm

All the best to you and your partner John on your new move. Keep safe
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Post by simpsca Fri Jun 14, 2013 10:30 pm

Congratulations John and good luck.  I did not have to produce any bank statement  when I sold my old house last year.  Perhaps a difference in notarios.
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Post by Vandre Sat Jun 15, 2013 10:46 am

Was it perhaps a statement from the NOB bank that was to receive the wire transfer?

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Post by johninajijic Sat Jun 15, 2013 11:20 am

Vandre - No, they needed a current Mexican Bank statement. NOB bank statement was no good.
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Post by Vandre Sat Jun 15, 2013 11:30 am

Great ....... another gotcha.  I have never felt the need for a MX bank account. John, can you tell us which Notario required this bank statement?  And, can anyone else who has closed on a house recently, tell us whether they were required to show a bank statement and who their Notario was? Thanks

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Post by johninajijic Sat Jun 15, 2013 11:50 am

Has nothing to do with the Notario. It has something to do with Hacienda.

No you don't need a MX bank account now, but you might if you're selling your house.  They make the rules and we must follow them even though we might not like them. That's my attitude.
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Post by simpsca Sat Jun 15, 2013 5:37 pm

The answer from me is No bank statement required for the sale of my former house.   I used (at the request of the buyer) Notario Enrique Luis in Riberas one block up hill from Sunrise Restaurant in San Antonio.  The closing was in English and the contract was on a big screen TV in English right next to the Spanish.  The buyer has the right to select the Notario and I was happy he chose this one.

I did produce utility statements and the recent tax and water bill prior to closing.  I had my passport and FM at the closing and that was it.  This was the third closing I have attended in Mexico an I really recommend Enrique Luis.  It was the only closing where I had any idea of what was going on.

PS Also hired Spencer to sit in on the closing - well worth doing, to be sure my interests were protected.
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Post by Jim W Sat Jun 15, 2013 5:45 pm

Simpsca, What is the Notario #?(i.e. 12, 15 ?) How long did closing take and approx. cost for Spencer?  Were there any surprise charges at closing?   Did they calculate severance for employees?

TIA
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Post by CanuckBob Sat Jun 15, 2013 5:51 pm

I believe that is Notorio #2. He is also the one that we used to purchase our house. Great guy who speaks good English and explains everything along the way.
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Post by simpsca Sat Jun 15, 2013 8:23 pm

I'll look up his number and get back to you. Probably the same one Bob used.

Sent you a PM on Spencer. No surprises and no hidden fees. I was really impressed with the Notario. Remember buyer gets to choose the notario. Amount of time was about one hour. There are a lot of papers to sign. He explained every one I signed.
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Post by simpsca Sat Jun 15, 2013 8:28 pm

Forgot severance. I took the employees to my new house and the new owner also hired same Gardner. There was no severance pay or severance of employment.
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Post by Rosa Venus Sat Jun 15, 2013 11:30 pm

Pretty sure his name is Luis Enrique....Luis Enrique Ramos Bustillos. (Or I've been getting it exactly backwards for a couple of years. Yikes.) Notario #2 sounds right, but can't swear by the Notario number. Office Phone: 766-0190.

Totally professional. His entire office is in my experience.
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Post by slainte39 Sat Jun 15, 2013 11:40 pm

simpsca wrote:Forgot severance. I took the employees to my new house and the new owner also hired same Gardner. There was no severance pay or severance of employment.

If you ever sell your new house,then I believe their severence would be computed from the time they began working for you at the previous property.  I think it is better to complete severence for each property as it is sold, as there will be less complications down the line. But if it works out...ni modo.

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Post by simpsca Sun Jun 16, 2013 12:01 am

We told the Notario all the details and did what he recommended.  I can't sell the new house for 5 years without paying huge capital gains. And making things complicated the original gardener got very busy and asked if his son could take his job at my house, so the son has only worked for me about 8 months now.  Getting too old to move any more so not going to worry about it at this time.
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Post by slainte39 Sun Jun 16, 2013 12:46 am

simpsca wrote:We told the Notario all the details and did what he recommended.  I can't sell the new house for 5 years without paying huge capital gains. And making things complicated the original gardener got very busy and asked if his son could take his job at my house, so the son has only worked for me about 8 months now.  Getting too old to move any more so not going to worry about it at this time.

That sounds good simpsca, but who is going to be responsible for the severence for the time the original gardener worked at your previous/old house?...the new owners of that property?
It smells iffy/dicey to me as you don't have a finiquito of employment if the gardener would decide to come back on you or the new owner. If you were to get dragged into the labor board, I doubt the notary would shoulder the financial responsibility.  It should have been your real estate agent to see about this...not the notary. I would not be comfortable, as heads (of gardeners) can be turned very easily.

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