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Why you always want a lawyer when buying real estate


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#21 Richard W

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Posted 19 August 2010 - 01:21 PM

I got an email from them ( spam) last week.. Its My understanding that ot was the owner not everyone .. But I can be wrong from time to time wink wink .

any updates on this case? Is Cozumel Properties still open?

I drove by, all doors where closed, and they had a few of their listings still on the window, and I could still see furniture inside...

Just hope there is some justice for the folks who got sucker punched by this outfit.


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#22 Coz2wonder

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Posted 19 August 2010 - 01:30 PM

if the owner goes down (isn't that the captain of the ship) doesn't the whole thing go down?

There was a couple of sales people and one lawyer who was involved in this sham.
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#23 Carey

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Posted 19 August 2010 - 01:33 PM

I am under the impression that the wife is fully involved in the whole mess. I am assuming that either she or their son was the one posting all the strange emails in this thread all of which were removed awhile back. I would advise anyone who receives private emails from these people to ignore them. Unless you're interested in buying Punta Sur National Park. Real Cheap!!!
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#24 justice 4 all

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Posted 26 July 2011 - 02:29 PM

It's been a year. Does anyone have updates on the Walter McPeek Scam.

Thank you
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#25 nauticab

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Posted 26 July 2011 - 03:53 PM

still in jail and only one of the parties involved returned to present their case. but still behind bars. which is good.
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#26 justice 4 all

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Posted 27 July 2011 - 07:57 AM

still in jail and only one of the parties involved returned to present their case. but still behind bars. which is good.


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#27 justice 4 all

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Posted 27 July 2011 - 07:59 AM

Thanks so much for the quick reply.
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#28 DJDiverDan

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Posted 28 July 2011 - 08:49 AM

Actually, that is VERY GOOD Advice when buying Real Estate, wherever it is located, even in the United States; it is not just fraud that can jump up and bite you, but perfectly innocent omissions, or just plain ignorance. I've practiced law in Texas for near to 30 years, and I've seen some real problems that could have been easily avoided if a purchaser of real property had been willing to spend $400-$1000 on their own lawyer BEFORE committing to buy an asset costing up to $350,000 or even much more. I've seen these problems over and over, and the buyer who got stuck always says "I relied upon the Seller's lawyer" or "I relied upon the Mortgage Company's Lawyer" or "I relied upon my Broker". My response is always the same - Not a ONE of these is PAID to look out for YOUR interests. The Seller's lawyer has a duty to protect the interests of his own client - make sure the sale closes and he gets paid. Same for the Mortgage Company Lawyer - his job is to make sure the loan documents are properly drafted and the lien properly perfected so the Mortgage Company gets paid; and even your own Broker - who is NOT an expert in Real Estate law - only gets paid if you close the purchase, so there is absolutely no incentive to tell you if there is a flaw in the title, a problem with an easement, or even if you ought to ask the Title Insurance Company to insure around an encumbrance. Even without fraud (which is relatively rare in the US), honest mistakes, omissions, or just lack of knowing what to look for can cost you. If you are too cheap to hire a lawyer, an expert in the field whose ONLY job is to protect YOUR interests, then you deserve whatever befalls you.
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#29 Richard W

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Posted 28 July 2011 - 09:55 AM

DJDiver.. I am in agreement with you 1000% .... I always Hire My Own Attorney.. I expect he or she to protect MY interest.. and MY interest only..
At Least at my closings... To Make their job similar, and to enable the proceedings to end quickly.. I never show, at one of my closing where I am the seller.. I trust Mike... Implicitly...... He is given complete control and authority.. Mike is not hesitant at all, to pick up all the papers and Call It A Day... I am also a firm believer in having an Accountant ( CPA) and a Tax Attorney.. Just like so many things in life.. Seldom will a DIY-er have the Knowledge and Ability as one who does whatever he /she does, for a living will have..
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#30 sailsgal

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Posted 28 July 2011 - 12:41 PM

We have a wonderful accountant/lawyer who has guided us very well on business transactions, house purchase, FM3/2 renewals, car purchase etc.
When we were buying a house that needed to be finished by the builders, they presented us with a two sided contract, one side English and one side Spanish. This is almost 4 years ago now. We had our accountant/lawyer check over all the information on this contract, as the Spanish wording is what is the law for your title. They could have said we were getting a mansion in English, but in Spanish we were getting a garage. The Spanish version becomes the legal document. We would not sign anything until this was verified and all was well and we are now looking to building another house with one of these builders, as we have remained friends.
Again check out every detail twice before signing anything or giving anyone money.
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#31 justice 4 all

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Posted 18 April 2012 - 10:49 AM

still in jail and only one of the parties involved returned to present their case. but still behind bars. which is good.


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#32 justice 4 all

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Posted 18 April 2012 - 10:52 AM

any updates on walter mcpeek? Did he go to court? How much time did he get?
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#33 sailsgal

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Posted 18 April 2012 - 10:15 PM

We heard he is still in the Cozumel jail and waiting for a trial date?...so any time served will not count here in Mexico like it does in USA....his so called wife.."partner in crime" took the $$ and fled back to the USA and never to be seen in Mexico again...We heard that if he was able to "pay some of the funds" back to one of the people that filed charges and lost money, they would drop the charges and he would be released...but if no money is available, he will do the time for the crime...could be many years!! He still has crimes in the USA that will catch him as well...
Not some place that anyone wants to be involved in a Mexican jail...The USA consulate checks on him every few weeks but nothing can be done until a trial date is set or money is exchanged for his release.
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#34 justice 4 all

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Posted 03 May 2013 - 02:09 PM

Anything on Walter McPeek?
Has he ever gone to court?

Thanks
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