Waterfront Property For Sale in Barra de Navidad Mexico
Duplex With Great Views and Great Rental History
Terms and Conditions of Sale for each unit or the entire duplex
Owning land / property in Mexico
Fideicomiso and Escritura
If you are not a Mexican citizen, land and homes in Mexico within 60 miles of the coast are purchased and owned through a bank trust. In a few words, you hold a bank trust for the property, called a fideicomiso, and a deed, called an escritura, which gives you exclusive rights to use that land/property as you want, in perpetuity. You assign beneficiaries and can leave it to your heirs in your will. In essence, the bank 'owns' the property for you because you're not a Mexican citizen, but you have legal Mexican documentation, the escritura, with full legal rights to build on it, live in your house, will it to a loved one, or sell it when you want to. The existing bank trust is fully transferable from the Seller to the Buyer as part of the closing transaction. There's an annual fee that you must pay to the bank holding the trust that comes to about $530 USD per year. There's also a cost to the Buyer for a local notario to generate the fideicomiso and the escritura.
The Real Estate Contract and Getting the Mexican Paperwork Done Right
The owner is using a long time resident of Barra to write the real estate contract and initiate all of the necessary paperwork with the notario for the bank trust and the deed. Tracye Ross is the owner of Cactus Construction, a fully licensed, reputable local builder with many years of experience in buying, selling, and building real estate in Barra de Navidad. She is knowledgeable, trustworthy, speaks fluent Spanish, and is completely vested in our community. It's natural to be a little bit leery to invest a lot of money in a foreign country where the process is different than what you may be used to. You can be completely confident that with Tracye guiding the process, your real estate transaction will be handled efficiently and professionally. Tracye's fees will be paid by the Seller.
These properties are for sale in US dollars. Proceeds will be deposited into a US bank account. The owners have no interest in doing trades on either of these units. It will be an all cash transaction, although Seller will consider a conditional short term loan depending upon the Buyer's circumstances. Seller will provide a contract to the Buyer(s) with agreed upon price, and terms and conditions. Once signed by both parties (via e-mail works fine), the agreed-upon earnest money must be transferred to Seller's U.S. bank account. The balance of the agreed-upon price must be transferred to Seller's U.S. bank account at the closing when the notario completes and submits the paperwork for the fideicomiso and escritura, essentially when everyone has signed the Mexican paperwork on the dotted line. If timing for being in Mexico for the closing signature is an issue, arranging a power of attorney for your signature is a relatively painless and inexpensive process, about $1,800 pesos (approx. $120 USD). It's typical in Mexico that it can take several months for all of the final documents to be completed through the bank being used for the trust, but as soon as the closing paperwork is signed and submitted, the transaction is legal.
Furnished 2 Bedroom/2 Bath Duplex Units
The units can be sold two different ways:
Conditions of sale based on current rental status:
IF DUPLEX UNITS ARE SOLD SEPARATELY:
Duplex Covenants, Conditions, and Restrictions (CC&Rs) and Bylaws for 368 and 370 Andres de Urdaneta, Barra de Navidad, Jalisco, Mexico C.P.48987
This document defines the rules and responsibilities for sharing space, sharing costs, and sharing maintenance between the owners of the duplex units at 368 and 370 Andres de Urdaneta, Barra de Navidad, Jalisco, Mexico C.P.4898
The duplex, both of the apartments and lot, are owned by and being sold by, a single owner. The downstairs apartment was bought by the owner in 2006 and when the upstairs apartment became available in 2010, the upstairs apartment was bought then. This property was originally built as two separate units, sharing the same lot on Barra de Navidad’s entry canal. Since the duplex was built, the units have been documented as separate entities, with separate fideicomisos (bank trusts) and separate escrituras (deeds). The units have separate electrical panels*, telephone, satellite TV systems, hot water systems, propane gas systems, and as of May, 2015, now also have individual water systems into the apartments, each apartment with it's own tinaco (or water tank).
Occupancy is limited to four (4) full time residents per unit. This doesn't exclude visiting friends or family from staying with the residents of the unit. It is only meant to ensure that the natural maximum number of 4 residents per unit should not be exceeded on a full time basis.
Shared Space/Taxes/Equipment Cost Sharing
The property is considered as a single lot from a property tax and neighborhood services perspective. For this reason, there is a single tax payment (2015 cost of $2,100 pesos (approx. $140 USD) if paid in January when the fees are discounted).
*The electricity that runs the pump and equipment for the swimming pool is connected to the upstairs unit and it has been determined that a cost of $600 pesos (approx. $40 USD) per two month billing cycle must be shared between the two unit owners by requiring that the owners of the downstairs unit pay the owners of the upstairs unit $300 pesos (approx. $20 USD) per two month billing cycle to cover the cost of pool electricity needs.
The cost of pool maintenance must be shared equally between the owners of the two units. Whether the owners agree to have a third party maintain the pool and split the costs, or whether the owners agree to share the physical chores and material costs of pool maintenance, an agreement must be reached between the two owners how costs will be covered and shared on a monthly basis. This applies to any repair or replacement of pool equipment necessary for the proper maintenance of the pool.
The Tinaco or Roto Plas is a water holding tank system that sits on the roof. There is a tank for each apartment and it is the responsibility of each owner to maintain their own tank. The tanks requre an annual cleaning, and the occasional part , such as the float device to maintain a full water level, will wear out or break from time to time. The cost of these maintenance items is paid by the apartment owner affected.
Physical maintenance of the building and its systems is mandatory. Living on the water, near the ocean, in tropical, humid conditions, creates an environment that requires constant maintenance to keep the duplex building in pristine condition. Each owner is responsible for his/her portion of the exterior of their unit. There are no restrictions as to color or treatments to outside surfaces, but each owner must agree to clean, paint (or both) the areas of their unit when signs of mildew (black areas), flaking paint, or other signs of deterioration become present. The upstairs unit owner is responsible for the maintenance, cleaning, and painting (as necessary) of both sets of stairs – front and back. Maintenance of the roof is a shared cost, as required.
Areas in the front and back of the duplex building are considered shared space. Existing landscaping, consisting of potted plants and a few areas of in-ground plantings, in both the front and the back areas is also a shared expense. Whether a third party maintains the existing landscape or the unit owners agree on a regimen of care between them, the owners agree that they will maintain existing landscapes and share the costs of doing so. There are no restrictions for adding to or removing existing landscape items as long as there is an agreement between the owners to do so, and that there is an agreement regarding who will pay for additional costs of new landscaping and its maintenance, especially if only one of the owners want to add to the landscaping. The existing large ceramic pots in the shared area are considered shared assets between the apartment owners.
The propane tank for the downstairs apartment rests under a small cement sun cover shed in the extreme southeast corner of the front yard. It is the responsibility of the downstairs unit owner to maintain this area and to clean and paint as necessary per the physical maintenance instructions above.
The low, blue, spike-topped metal fence in the front of the property is a shared responsibility of both unit owners. This fence must be maintained, cleaned and/or painted, on a regular basis per the physical maintenance instructions above.
The carport, including the landscaped area on the northeast side of the carport is common property to both apartment owners. Per Mexican duplex laws, individual parts of common areas cannot be assigned to one apartment or another, therefore, the parties have to agree on a schedule of sharing the carport between them. Maintenance, cleaning, and painting of the carport structure, per the physical maintenance instructions above, is the shared responsibility of both apartment owners The carport is to be maintained in a neat, organized, and uncluttered manner, giving full access to the area in front and beside the stairway to the upper unit and the small entry gate into the courtyard. The courtyard is considered common area and both unit owners are responsible for keeping it clean and uncluttered.
There are two small, securable storage areas in the shared areas, one in the front under the stairs and one in the back under the stairs. The one under the front stairs contains the propane tank for the upstairs unit. Also, the water line from Barra's water system enters the property under these stairs, including the filter cartridge that the water runs through prior to running up to the roof where it is separated into the two tanks. This area must be kept as clean, organized, and as uncluttered as possible for safety reasons and so that the Global Gas or Zeta Gas operators can access the tank to fill it. Whether the owners elect to have a third party clean and change the filters on a regular basis or the owners agree to share this maintenance activity, the owners agree to share the costs associated with cleaning and replacing filters on a regular basis. This area is shared property and both apartments must have access to it.
The storage area under the stairway in the backyard contains the water heaters for both units. It is the responsibility of each unit owner to maintain, repair, or replace the water heaters for their respective unit, as necessary. Access to the water heaters cannot be blocked by storage items and must be accessible to both owners. Storage space available in this area must be shared equally by both apartment owners.
Pool, Palapa, and Sunning areas
The pool, palapa, and sunning areas are common areas to both units and for this reason are subject to some additional rules.
No early morning or late night loud conversation or partying is permitted without the agreement of both unit owners. Pool area noise is to be limited to conversational levels to ensure the privacy of both unit owners and neighbors, who are close by on either side.
If necessary, unit owners need to agree on times to use the pool, palapa, and sunning areas so that one unit owner does not monopolize the area or its use at specific times of day, to the annoyance of the other unit owner. This is a key requirement to ensure harmony in this popular shared area. Common courtesy requires that if one unit owner is planning a party or a gathering with friends with the express intent of using the pool, palapa, and sunning areas, that they speak with the other unit owner in advance to let them know of the upcoming event.
Pets are allowed, but absolutely cannot be a nuisance to the other unit owner. Physically aggressive or threatening dogs, incessant barkers, or otherwise confrontational dogs are not allowed. If you have a dog that would bark constantly when you are away from the duplex, it will not be allowed. Dogs and cats are not allowed to run free in the backyard area, and any and all animal waste must be removed and cleaned up promptly afterwards by its owner. Pets should be walked on the street side of the duplex for doing their business and it is the obligation of the owner to clean up any animal waste deposited in the street or the maintained grassy areas across the street.
I agree to all of the conditions listed above, and understand my obligations as a unit owner in this duplex.
OWNER, 368 ANDRES DE URDANETA OWNER, 370 ANDRES DE URDANETA
BARRA DE NAVIDAD, C.P.48987, JALISCO BARRA DE NAVIDAD, C.P.48987, JALISCO