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Laguna Shores, Rocky Point Mexico

Phoenix
7 posts
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Laguna Shores, Rocky Point Mexico

I just purchased a lot at Laguna Shores and I am anxious to get some feedback from anyone who has completed a purchased. How long did it take to get your "Trust Deed?" Any problems with anything at all that you would care to share?

Arizona
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9 posts
25 reviews
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1. Re: Laguna Shores, Rocky Point Mexico

I bought a lot out there when they first opened. Glad to hear that they are still selling. I own at Bella Sirena and Las Palomas.

Marybna@aol.com

tucson az
Destination Expert
for Tucson, Arizona, Northern Mexico
Level Contributor
16,457 posts
78 reviews
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2. Re: Laguna Shores, Rocky Point Mexico

original post is from april. they're not likely to see your reply.

Arizona
1 post
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3. Re: Laguna Shores, Rocky Point Mexico

I would advise everyone thinking of buying at Laguna Shores to be very wary when dealing with them. A friend of mine has benn waiting for his title for 7 years! They have given him the run around so many times with no progress. Bottom line is you better have a lot of time and money when dealing the likes of Michael Klein.

Phoenix, Arizona
6 posts
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4. Re: Laguna Shores, Rocky Point Mexico

I do not like Michael Klein. I bought property there and he just gives one excuses all the time. I will never recommend that so called Golf and Country club to anyone.

Glendale, AZ
3 posts
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5. Re: Laguna Shores, Rocky Point Mexico

It took me just over two years, but I did get it.. Things were really booming at that time and all the developers were just trying to sell, and very few including Laguna Shores, knew what the hell they were doing to actually make "ownership" happen.. It should go quicker now I'm sure - since they've now done it before (found out I was in the initial group).. Would still bank on at least a year though.. Manana, Manana.. If they've already got your money, then what's the rush for them right?

Phoenix, Arizona
6 posts
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6. Re: Laguna Shores, Rocky Point Mexico

I bought an equity share in a Laguna Shores condo still do not have the Bank Trust. I bought it two years ago. The sales man at Laguna Shores claim they have to sell the rest of the shares in the condo first in order to issue the Bank Trust. The condo is half sold right now. Still Waiting!

Puerto Penasco...
3 posts
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7. Re: Laguna Shores, Rocky Point Mexico

It can take some time to get a trust deed, however there should be a private contract in place between the buyer and the seller to cover that gap.

Phoenix, Arizona
6 posts
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8. Re: Laguna Shores, Rocky Point Mexico

I have a privite contract with them in place already.

Glendale, AZ
3 posts
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9. Re: Laguna Shores, Rocky Point Mexico

I imagine structuring a trust for an equity share could be a bit more complicated than the typical outright 1 for 1 exchange/purchase. Remember, the ownership/trust is originally under their trust for the entire development and it's likely more beneficial, or less of a pain in the butt, to restructure their original trust for the development every so often as opposed to every time someone buys another parcel. Restructuring the trust for their remaining share of the development every time someone purchases a parcel could get really expensive in a hurry and probably would't make much sense. If I was in their shoes, I'd probably do it every year or two. The upshot from your perspective would be that you don't have to pay annual renewal/maintenance costs on the trust since you don't have it yet or taxes since it has not been put in your name yet. For me, that amounts to about $425.00 a year for a lot without a structure. You might negotiate regarding NOT paying HOA dues since you don't formally own the equity share yet - this might prod things along (unless, of course, you're receiving financial benefits from it right now). For me, again, that would be another $400.00/$600.00 a year for a lot without a structure. If your not paying that either currently, you're just saving yourself money. Good Luck..

Phoenix, Arizona
6 posts
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10. Re: Laguna Shores, Rocky Point Mexico

I pay 1,600 a year HOAs fees right now for the equity share.

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