| It's no secret why thousands of people choose to | | | | Uprooting these people is extremely difficult, and this |
| move to Latin America each year to invest and retire. | | | | difficulty should be avoided if possible. |
| The pleasant weather, fresh food, welcoming locals | | | | 4. The Invalid Contract Scam: This is when you sign a |
| and great property deals all are big draws. But buyer | | | | document or contract in Latin America, but don't |
| beware, here are a few of the common scams out | | | | officially register it with the corresponding Municipality, |
| there to watch out for when looking for your dream | | | | rendering it unenforceable! Using a good lawyer can |
| beach house. | | | | help prevent things like this from happening. |
| 1. The Bickering Sibling Scam: This scam is very | | | | 5. Multiple Sale Scam: In most Latin countries, once you |
| prevalent all over Latin America. This is when the | | | | purchase a property you have to register it officially |
| house is owned by various people (often left to | | | | with the local Notary and the Office often designated |
| children in a will) and some of the owners try to sell | | | | the "Registro de Propiedad." If you don't, the seller |
| the property while other legal owners don't wish to sell. | | | | could sell the same property multiple times, and the first |
| This can lead to big problems for you if you pay | | | | one to register the property with the local authorities |
| someone before getting this legally cleared up. | | | | gets the official deed to property. To avoid, make sure |
| To avoid being burned by this scam, work with a good | | | | as soon as you buy to register the property. |
| lawyer and make sure they null the legal rights anyone | | | | 6. The Useless Property Scam: This is where |
| has to the property. | | | | someone sells you a property that has some |
| 2. The Uncle Larry Scam: Often a house is sold | | | | governmentally imposed building restriction, rendering |
| without informing an active tenant, and the tenant | | | | your purchase useless. A good lawyer can help you |
| simply refuses to leave. The police in many countries | | | | avoid this scam. In other cases your property may be |
| of Latin America don't help much in these cases. So | | | | on the base of a large, unstable mountain of sand that |
| before you buy, make sure there are no active | | | | will collapse on you once you start construction. To |
| tenants. Or if there are, make sure the current owner | | | | avoid, always visit a lot before you buy it, and don't |
| gets them out before you hand over the money. This | | | | commit to anything over the internet. |
| can be one big headache for a new home buyer. | | | | 7. False document scam: In Latin America, anything can |
| 3. Shanty Town Scam: This has been happening ever | | | | be copied. Identical-looking passports can be made for |
| since the Spaniards first arrived hundreds of years | | | | around $150. Needless to say, some people may try to |
| ago. You will see that in some areas of the coasts, the | | | | sell you a property with false title and registration |
| cheapest beachfront real estate is inhibited by | | | | documents. The way to prevent this is to always |
| make-shift shanty towns. Many of these people have | | | | work with a trustworthy lawyer. |
| been here for decades, yet they don't actually have | | | | Don't let this list of scams scare you off. Moving to |
| the title to the land. This opens the door to someone | | | | Latin America was the best choice many people, |
| coming along and buying the land without their | | | | myself included, ever made. |
| knowledge and reselling it right out from under them. | | | | |