Condo and Home Sellers in Baja California / Void Contracts
Many US Citizens bough property in Baja California during the Baja Real Estate "Gold Rush" of [protected]. After signing and making a hefty deposit, many purchasers have since then decided to back away from these transactions. If you or someone you know made a first hand purchase (direct from developer), it is likely that you can legally get out of the deal and demand your money back plus interest. Under Mexican Law, standard fomr real estate contracts for a home (bought straight from developer) require registration with the Mexican Consumer Affairs office. If the contract was not registered, the transaction is not enforceable against the consumer, and he can get a court order to get his deposit returned.
So far, we have seen this with contracts from developments such as Las Olas, Palacio del Mar, but we suspect there are mor cases like this. Very few Developers in Baja were aware of this requirement.
Contact us at [protected]@osunalegal.com or at our US Phone line, [protected]. Ask for Alex Osuna.