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Buying Real Estate in Mexico? Do You Know Mexico Laws?


Thomas Lloyd,  Broker By Thomas Lloyd
2011-03-21

If you are buying real estate in Mexico, it is important to have a basic idea of what Mexico laws are relevant. This is for two reasons. One is that you will better protecting the money you are investing in the property; the other is that you will be able to discard the many legal myths floating around about Mexico.

 

For both aspects, there are a number of resources available for you on line.

 

Among these is a Mexico real estate blog from a professional, qualified and experienced group of experts. Most blogs will cover a variety of topics ranging from how to obtain residency, to new restaurant openings in popular expat communities; the best-informed ones will have an option to choose topics on Mexico law, and will probably draw special attention to the key issues, such as ownership through bank trusts or the purchasing process.

 

Such a blog will also be a good resource to become aware of questions and issues that may not have occurred to you to ask. For example, you may learn that in the coastal areas or near the border in Mexico you own your property by means of a bank trust, but in the central inland areas, you can own the property outright.

 

Another resource is to ask a real estate question in an online forum. This gives you the option of clarifying any specific question that has turned up or has been eating away at you as you contemplate making the move to buy in Mexico. If other people have asked the question, you will be able to find their question and a variety of answers; if not, you will be able to submit your question to a panel of experts who will provide a variety of information and point you to any further resources.

 

In the end, the most important resource will be the team you work with to carry out your real estate transaction, including your agent, a lawyer and a notary public. Central to this team will be your agent, who will point you to other professionals necessary to carry out the transaction smoothly. For this reason it is important to select your agent carefully, reviewing qualifications of the office, and recommendations from past clients. Mexico has fewer laws defining the requirements of agents, so it is up to you to investigate.

 

Once you've found the right agent, though, they will be an invaluable resource on helping you find legal information and pointing you to qualified legal services.

 

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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