Mexico- About a week ago I wrote a short post regarding a sudden jump in the exchange rates between the Canadian dollar versus the US dollar The Canadian dollar had gained some ground with a one day record jump back in 29th of October I thought it was interesting enough to make a short note that another little jump occurred yesterday to bring the Canadian dollar upto $.8664 USD As Nathan Barcic points out, “A property that was worth $200,000 usd on Monday, would be worth $8,000 CAD less today” There appears to be a transition away from US treasuries and back to world equities on confidence of positive stimulation to the economies published HiFX Check out some Playa del Carmen Real Estate property listings and calculate how much you can save if purchasing a property this month Write to me to find out how you can freeze an exchange rate for future operations

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company`s web site www.TOPmexicorealestate.com

I have several Canadian clients who are in the process of closing upon some Mexico Real Estate properties here in the Quintana Roo area Over the past 60 days, “the foreign currency markets have been extemely volatile” goes without saying Several Mexico home buyers from Canada and US have written asking how this will be affecting their closing and final payment obligations So, how does the Canadian dollar fluctuations affect the purchase process down in the Cancun real estate market or even a property up in Baja California

To be brief in the explaination Prices of Mexico properties listed within markets with a high concentration of international buyers are normally quoted in United States DollarsWhy is this The reason is that normally the USD gains in strength against the Mexican peso Although the gains in the past 8 years have been quite stable, most Mexico home owners feel safer in quoting in the more affluentAmerican currency So, Canadians buying here in Mexico, when making deposits, must pay the equivalent of a price quoted in USD Now a little history: in the fall of 2007, the Canadian dollar had gained important strength against the United States dollar to a record level Where as before, the exchange rate was hovering around $1.00 Canadian dollar per every $.65 – $.70 USD, within a short time span of several weeks $1.00 Canadian Dollar could then buy $1.05 usd This was an increase of nearly 30% which many people of this country took advantage and investd into Mexican Oceanfront properties or similar assets Recently though, within the past 30 days, the Candians lost a good percentage of this gain as it returned to near $.75USD In the past day, the Canadian dollar began gaining back ground when a surge from $.7680 upto $.8100 against the green back was registered Nathan Barcic, senior business development at HiFx Inc.stated “this move alone of 7% can save Canadians nearly $6750 CAD per every $100,000 CAD investment” HiFX Inc. has several tools that are quite interesting for people investing into latin american or even international countries such as “lock in rates” for upto 60 days or soFeel free to call me if you want to discuss this topic further or if you have any other questions regarding How to buy Real Estate in Mexico.

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company`s web site www.TOPmexicorealestate.com

The question onHow do I transfer money into the Mexico Real Estate seller s bank account during closing is very common.

There are various options available for making money transfers into Mexico and delivering checks to the sellers But, of all options, some are the most efficient and safest for both the Mexico Real Estate buyer and the Mexico Real Estate seller.

How to Transfer Money to Mexico for a Real Estate Transaction:

First we should define some of the tools available to transfer money and to guarantee payments between Mexico Banks and Mexico property buyers and sellers.

a) Mexico Bank Draft:

as explained in investopedia, Mexico Bank Drafts are normally used when involving large sums of Money and trust is a factor In wikipedia, the definition is little more vague for the Mexico Bank Drafts 2 stating that such a Draft is guaranteed by the bank but the definition does not distinguish any differences between the Mexico Bank Draft with a Mexico Certified Check

b) Mexico Certified Check:

In their definition for a Mexico Certified Check, this web page states that the bank will freeze the specified money amount within the holder s account The depositor will normally not be able to put a stop order on the check which is why this is usually a preferred payment method by Mexico sellers

c) Mexico Cashiers Check:

The difference between the Cashiers Check and the Mexico Certified Check is:

that the money is drawn from the financial institution s account (Mexico Cashiers Check) vs. money drawn from the owners account (Mexico Certified Check) This is explained in detail at this link for a Mexico Cashiers Check.

d) Mexico Wire Transfer:

The layman's term is stated very well here at the wikipedia web site Mexico Wire Transfer.And as explained here in investopedia, the Mexico Wire Transfer definition are the most efficient methods for international movements The Mexico money wire transfer is the simplest method for having money arrive quickly to the Mexico Real Estate sellers account Most Mexico money transfers are prepared beforehand by the buyer at the bank from his home country specifying the quantity and the planned date of transfer execution for final approval At the notary public, once documents have been signed, the buyer will place an international call to his bank giving the authorization and within a few minutes, seller can confirm reception of deposits into their accounts The downside of this method might include the fact that some banks may take as long as 2 hours for wire transfer to appear internationallyThis will require all parties to wait patiently at the Notary Public's offices for execution and confirmation

e) Mexico Money Exchange House:

On some occasions, if during a volatile exchange rate period, the Mexico Real Estate buyer may want to analyze and compare the exchange rates given by their home bank versus a Mexico foreign exchange company Most Mexico currency exchange services offer various support items which are outlined at the following link Definition of currency exchange services Most of these businesses may have a bank account within Canada, USA, UK, and most European countries allowing for an efficient national wire transfer to be executed by the Mexico buyer in their home country currency They can then give instructions to the exchange home to pay X amount of pesos to a specified Mexico Bank account (Mexico Sellers account) Other businesses may allow for you to pick up a check made out to the Mexico Sellers name as a certified check giving the Seller ease and confidence of reception of monies

f) Mexico Escrow Account:

Our last option that we discuss in this post is the Escrow Account Here the buyer pays an escrow agent to administer and coordinate the payments once all documents and signatures are safely collected You can listen to a video introduction to this Mexico Real Estate tool by clicking onto this link Listen to video introduction on Mexico Escrow Accounts

The payment of deposits, balances and overall Mexico Real Estate transaction process are outlined in greater detail in another post If you are interested to see when such payments are normally due and payable, learn more by clicking and reading more at (the purchasing process)At a future date,I will write some information on how to legally get monies above $10,000 usd into this country to buy or invest into Mexico Real Estate

- Thomas Lloyd www.TOPmexicorealestate.com