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Property sale Lakeside in Canadian dollars?

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for all you Americans here, i can tell you if you tried to push American dollar crap only, in Canada ,

you would get run out of town, deal with the currency of the nation you live in ,show some respect

we deal in pesos here ,live with it, if the peso was going the other way I think you would all be grabbing

offers with both hands, house is only worth what someone else wants to pay for it, pesos, cdn or usd

or monopoly money, counter or reject, your a Canadian, so why would you expect USD, when you wouldn,t

get it in Canada

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It is ironic that both buyer and seller are Canadian and the issue is USD. It's like the old saying about two dogs fighting over a bone that neither owns.

Counter in CAD for what you are willing to accept and forget about USD. They will either walk or accept and that will be the end of it.....then it's a new day as you will have done your best.

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It is ironic that both buyer and seller are Canadian and the issue is USD. It's like the old saying about two dogs fighting over a bone that neither owns.

Counter in CAD for what you are willing to accept and forget about USD. They will either walk or accept and that will be the end of it.....then it's a new day as you will have done your best.

Buyer is not Canadian but Mexican. They do not want to make offer in Mexican pesos or US, only Canadian, because it is sinking and they come out like bandits.

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You need to figure out what you "bottom take price is" in Canadian Dollars and forget about this US thing since you are Canadian. If as you fear at time of closing the loonie drops further against the greenback, so what? Your Canadian Dollar is what matters as you will be taking the funds back there anyways.
And, most likely when you bought your CND dollar was at par or close to the Greenback. ???

Just figure out what you need to have in CND dollars, sign it back to the buyer, and hope the deal goes through.

It can take years to sell a property here. I'd take the offer. Good luck

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Have you asked as expert if you will have to pay capital gains? And if so how much? Have you also figured in how much you would be paying in sales commission and IVA? Sometimes these amounts are real shockers to sellers.

You have to insist on US dollars or pesos.

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Negotiate and also cut the real estate commission. 7% is high for most places in Mexico. It sounds like your property has been on the market for a long time and only you can determine if you are willing to wait longer.

Legally, you can insist on pesos but likely does not help.

good luck

Sonia

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Buyer is not Canadian but Mexican. They do not want to make offer in Mexican pesos or US, only Canadian, because it is sinking and they come out like bandits.

NOW, we are getting places. You are outnumbered.

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The" niceties" homeowner puts in the house are mostly not important for resale. When we built our house on the island we used the best materials and finishes we could find. It costs a fortunate. Our friend built a house as cheaply as he could. He just sold and I was shocked at the price (so was he) he got $80000 over asking. It was sold within few days. I do not think we would get as much for ours. But we built it for us and are not planning to sell. House is worth what someone else is willing to pay for it. Most people are looking for deep bargains but not everybody. I do realize that it is harder to sell here at this moment.

It is a practice in this area to buy and sell houses in US$ so what does it matter that Sarita is Canadian? Canadians can invest in US with US$. I would love to see everything priced in pesos but it is not. So we have to work with reality. We cannot control the dollar fluctuations either. Mexicans love to haggle and are good at it. Take your time Sarita. Be realistic and know your final price.They want your house and you want to sell . Negotiate...they are use to it. It is not like NOB. Sometimes it is a long process.

And yes...try to cut that commission.

Good luck.

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Buyer is not Canadian but Mexican. They do not want to make offer in Mexican pesos or US, only Canadian, because it is sinking and they come out like bandits.

Peso is sinking more than Canadian $

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Ignore the offer. Ignore the agent. We have names for people like that.

You will get another offer. As soon as you can, list with someone else.

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Ignore the offer. Ignore the agent. We have names for people like that.

You will get another offer. As soon as you can, list with someone else.

I wonder how many offers the owner has received..how much time does he have to enjoy..as they say sometimes the "first offer is the best offer"

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Scare tactics, pure and simple. Who cares how many offers have come in? Would you suffer such BS when selling something of yours? I sure wouldn't. Following the "first offer" logic suggest every house in this area should have been sold already.

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El Saltos, on 23 Jan 2016 - 5:48 PM, said:El Saltos, on 23 Jan 2016 - 5:48 PM, said:

Not really. They're both off ~30% vs $US.

Peso is falling against CAD. I am getting more pesos now than when we came in November It was over 13 pesos today. Best in 2 years. Usually it was between 11 and 12 in that period.

Edit: I forgot to mention that we are here only at winter time so I do not follow it during summer.

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Looking at that graph it is 12.5 during summers and then dips down below 12pesos just before we come for winter.... (2 years in the row) :huh: I was delighted to see it over 13 today. I do expect it to fall again next week :angry: :-(

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What amazes me is listing of houses in USD and at closing the money goes to the real estate account in the usa . Cannot imagine selling a house in CA or USA and agent listing it in pesos.

Doesn't it seem odd. And to charge 7% commission

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What amazes me is listing of houses in USD and at closing the money goes to the real estate account in the usa . Cannot imagine selling a house in CA or USA and agent listing it in pesos.

Doesn't it seem odd. And to charge 7% commission

I thought that it was against the law to charge 7% and the real estate companies had been fined for doing so?

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I thought that it was against the law to charge 7% and the real estate companies had been fined for doing so?

They had a fixed rate among all realtors. That is why they were sued. They can charge whatever they want but they cannot force other realtors to charge a certain amount.

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It is listed just below $300,000 US well down from last list at $380,000 US a couple of years ago and well below all current market evaluations as well. The offer came in at $345k Canadian -- that is $237k US which I replied is an insult and countered at full list.

Regardless Pesos or CDN, you have to judge, how many golden years do you have left.

I was just gonna say what Lakeside7 said. Seems like the property has been on the market awhile already. I will say here in America, countering at full list in markets where there are few buyers is essentially telling the buyer to shove off. If the potential owner is already planning a pool, this would seem to indicate a strong interest in the property, they might be willing to go higher, but I think you'd have budge at least a little with a counter to entice them.

But if you aren't cash challenged, then maybe waiting is the path.

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I don't know the status of this real estate deal as some time has passed since these postings.  As a former real estate agent, here is my advice for negotiating this type of offer.  When someone sends you a low ball offer that you find really unacceptable, DO NOT COUNTER.  Simply respond, thank you, but it is too low, however, feel free to make another offer and you will consider it explaining that you are too far apart to negotiate.  Keep the emotions completely out of it.  Do not get insulted.  This is business.  See what happens.  If they stick to their guns, then do not respond any further.  If they really want the house, they should submit another offer.  I realize this is Mexico and the mentality may be completely different. 

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Down in Chiapas the prices are in pesos and I have seen people negociate, come to an agreement and then the seller refused to sell because he wanted more money. The agreement was not in writing yet  and the buyers really wanted the house so they had to pay more. It is the way it goes sometimes.

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i am really appalled that people think that all real estate should be in AMERICAN DOLLARS --THIS IS Mexico and all business should be in pesos. PEOPLE are very happy to pay their help in pesos and expect car repairs,etc in pesos ...THIS American dollar real estate business is a scam at Lake side .I know of no other country that does business in a foreign currency..

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There are plenty of other countries where the US dollar is king in realestate or business ,. No one is forced to pay in dollars , no one is forced to buy Lakeside . just move to an area where the prices are in pesos or just do not buy or rent if the price are in dollars. Go to any tourist area, many prices are quoted in dollars including that of coca cola. Last time I was in Huatulco , the merchant told me the price of coca cola in dollars, I asked if we had crossed the border somewhere and he then told me the price in pesos.

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