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Buying Mexico Property Through a Mortgage – Safely!


Thomas Lloyd,  Broker By Thomas Lloyd
2010-12-27

One of the options for acquiring a Mexico property which has been becoming more and more common is through a Mexico mortgage. However, especially when tying yourself to a long-term financial commitment, it important to have access to clear, accurate information about the differences involved in buying and owning real estate in Mexico.

A very good first step in becoming familiar with these differences is through a Mexico real estate guide e-book. While print guides are available, they may be more difficult to find, more costly, without any guarantee that the information is even as reliable as that in an e-book available free online. In other cases, print books may also be overwhelmingly detailed, geared towards industry professionals, loosing you as the buyer in over-complicated information.

A well-prepared e-book will offer information regarding:

Owning and acquiring property in Mexico as a foreigner. Owning property in Mexico as a foreigner is completely legal and safe. However, there is an area known as the "restricted zone" where a special bank trust is necessary to make ownership possible. There are also some areas where property is not yet privatized. A good guide will present the necessary information about both.

The steps in acquiring a property in Mexico. While some of the steps are the same as back home, there are certain contracts which hold more legal weight and should be given special attention. It is also important to know at which point you become the owner and gain the rights to the property, and how to make money transactions safely during the process.

Professionals with whom you will need to work. The central figure in making your transaction successful and safe is a knowledgeable and reliable agent, since they will point you to other necessary professionals, but is also valuable to have an idea of who these people will be, what their role is and how that role differs from the U.S. or Canada.

Common errors made by foreigners buying in Mexico. While there are some real differences to acquiring a property in Mexico as a foreigner, which can lead those who are not familiar with them to make some mistakes, there are also some common errors made because Americans and Canadians do things which they would never do back home. Both kinds of errors can be costly, but can also be easily avoided with accurate information.

Being knowledgeable of the basics in these areas, you will be ready to move into a purchase using mortgage financing, confident that the purchasing process will be carried out correctly and safely.

TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely

 

Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"

 

Region:  Playa del Carmen real estate.

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.

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