View of the property

Well we saw that the Lares, Puerto Rico property was back up and listed for sale online.  The price had gone up in the listing by $15,000.  We had gotten our deposit back after a year + of waiting on the title. She was free to try and sell it to another buyer and we are free to look around again.  So it was not a bad thing at all to see it listed.

I decided to call Alwilda just to see how things were going.  I asked her how the title was coming along?  She replied “I have sold the property”.  I was kind of surprised, but knowing how badly she wants to move I was happy for her.  “Bien! Bien!” I said, “When will you be able to move?”.  She said that she is selling the property in June to some Canadians.

There are a few things that struck me odd about that.

I’ve looked up lots of information over this last year and its kind of hard to pin down, but I don’t believe she can sell the property until it is listed in the title registry.  I’ve seen information online that even says  that a notary has to sign for the deed and the first thing they have to do is verify is that the title is properly filed in the registry.  This one isn’t listed, which is why we couldn’t buy it.  Carlos (her lawyer & also a notary AND ex-son in-law) kept telling us that if we paid with cash, then we would be able to buy the property…Yeah….right.  I have a bridge to sell you.

The other odd thing is that she is selling it in June which means to me she hasn’t sold it.  Maybe they are looking into it the same as Cassie and I did?  To visit and make a decision.

I don’t know the people that are buying the property but if they are reading this (they might stumble across this),  be careful.  There are some odd laws in the books down there.   William is the one who owned the entire plot broke off and sold the 25 acres to Alwilda.  William has children who may have legal right to the land when he dies (Spanish inheritance laws).  When we applied for the loan thru the bank, the bank was saying “no way” due to the title issues.  Some of the best advice I received from a realtor was to go thru the big well known institutions and reputable places.  They are protecting themselves in the deal and as a result you get that protection. Which is why even if you have cash to buy something outright its not always the best route.  You lose a lot of protection so you better be sure you know what you’re doing.  That’s my opinion anyway.

Estrella, Alwilda and me, plus Pirulo (the dog)

It’s a beauitful property deep in the mountains of Lares and if we could have bought it legit, I think we would have.  However, I think we are just going to look for a place closer to the beaches and wish Alwida the best of luck.  We do feel like we kind of missed out, but it is probably for the best for both parties.  We will continue to stay in touch with her and visit when we are in Puerto Rico next.