The reluctance of some Real Estate Agents to work with a Real Estate Attorney.

Among the myths that I would very much like to debunk is that a real estate attorney has no business in real estate.

Let me say that I don't compete with a real estate agent, but often I review purchase agreements where problems could have been avoided had the following been disclosed early on:

1. There is a tenant that will not vacate the property;

2. The property is co owned or is community property and one party wants to sell his/her share when they have not yet settled ongoing disputes;

3. There are issues with encroaching property lines;

4. There are issues with the federal zone;

5. The seller is delinquent with HOA fees;

6. There are inconsistencies in the description of property; 7. The seller has a fideicomiso that is about to expire and will not have be able to sell the property before the deadline,

8. The seller wants to declare a lesser transaction value to the notario and transfer his capital gains liability to the unsuspecting buyer.

9. The property is under a fideicomiso and the parties have signed a purchase agreement, and the buyer made a deposit , the non refundable type, no escrow, and the fideicomiso had expired before and such relevant matter was not disclosed to the buyer and the agent did not warn the parties.

10. The deal falls through because the seller found out much too late that his capital gains will be 35% of the taxable gain and he wants time to become a permanent or temporary resident and comply with other tax conditions to be exempted.

I would agree that a jack of all trades attorney has no business in real estate, but, as with many other professions, there specialists who focus only on specific fields, in my case real estate closings account for 95% of my business, thus I make it my job to perform fluidly and safely, so contrary to the belief of some, I do not swamp transactions.

My turnaround time is usually within 45 days, when the seller cooperates with title search and things check out fine, with a trust bank that I get to choose, it is not the same thing when I am asked to handle the closing and the property is under a current trust with a big and slow bank in which case the turnaround time may be 3 or 4 months (this is the case when the trust bank is one of the old guard, thankfully BanBajio, Monex, Mifel Banco Inmobiliario Mexicano are quicker and more affordable too!).

If you buy property you expect to become the registered owner, don't you?

I have heard from some agents that I am intimidating, others that I am downright hopeless, the fact is, that we are all bound to perform and deliver, and no, I am not paid a commission, my services are retained before someone sells or buys property to avoid issues that usually erupt after from soft closings.

The priority of both, Agent and attorney, is supposed to be protecting the interests of their clients, right? So, let's work in tandem then!

BTW: In spite of the fact that I still reside in Tijuana, I travel up and down the Peninsula (at least once a month) and close business all over. I am not restricted to one jurisdiction. I have been doing this since 1988 when I supervised the master trust for El pedregal in Cabo San Lucas.

Real Estate Law, Closings, Real Estate Trusts (Fideicomisos), Due Diligence, Company Formations, Estate Planning, Asset Shielding, legal Guardianship, litigation, family law, leases, issues with ejido property, landlord-tenant disputes, eviction protection, contracts, labor law, etc.

Call me to discuss your needs.
Rafael Solorzano
From the U.S. 011-52-664-188-7001.

Find us on FB at Baja Legal Advice.

Within Mexico: 664- 188-7001


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