We called Alwilda who is the current owner of the property in Puerto Rico. She said that her lawyer received some papers back from the government / title company (I am not entirely sure how it all works down there yet). Apparently this is the last paper that needs to be signed for the property to be registered/titled correctly. I sure hope so.
When we asked Cassie’s uncle about purchasing property in Puerto Rico he wasn’t entirely sure because he was licensed in particular states, his advice was to make sure you go thru the larger well known companies. I would have to say that after our first attempt at the purchase this was true. The bank has lawyers and they checked out all the property access requirements and survey/appraisal which is wonderful. They are the ones who found out that the title wasn’t setup properly.
We are getting closer to re-applying for the loan. Hopefully this time it will go thru; we asked for more time intitally (in January) and boy did we get it!
Satellite Image of PR
I was thinking about this summer / fall because I think that is when Hurricane season starts. I actually am kind of excited to experience one. People here are somewhat proud that we don’t have such disasters. But less than 10 miles away we had a pretty large tornado roll thru here, so even we aren’t ‘safe’.
Greeley/Windsor Tornado
There is also one other thing that I find really interesting and dangerous about PR. The trench to the north of the island. Well that AND the fault line.
http://en.wikipedia.org/wiki/Puerto_Rico_Trench
PR Trench
“The island of Puerto Rico lies immediately to the south of the fault zone and the trench. The trench is 800 kilometers (500 mi) long and has a maximum a depth of 8,605 meters (28,232 ft) at Milwaukee Deep, which is the deepest point in the Atlantic Ocean.”
Which is also why I am ok with not being on the beach front. If an earthquake hits apparently from what I’ve read the trench can have underwater avalanches that cause tsunamis. Although here in the mainland we have the ‘economy’ which could be way worse than any tsunami. Look at our trench!
US Trench
I dont know which is deeper? I guess I will take the one that only crashes once every hundred years (PR Trench) not every 30 (stock market).
