Are you considering buying Mexico real estate? If so, did you know that Mexico laws for acquiring real estate are different? This is in no way a deterrent or problem, but it is up to you to ensure that you are working with qualified professionals, protecting your funds and buying safely.
There are two main resources ensure that you are buying real estate safely. One is your Mexico broker, the other is your lawyer.
Your broker will be the central figure in your real estate transaction. A qualified and experienced broker will not only be instrumental in presenting properties which are property titled and available for private sale, but will also be able to suggest other necessary professionals, such as a notary public, and a lawyer.
For this reason it is of key importance from the beginning that you invest the time to find a broker who best suit your needs. This involves to key aspects. One is that he is qualified, the other is that he has experience. Qualification is not required by law in Mexico, so it's your job to ask. You can ask about the following items:
Membership in AMPI (Mexican Association for Real Estate Professionals.)
Degree in Mexico Real Estate
Certificates in various aspects of the processes
Experience is also important. You can check experience by asking about:
Years of experience working in Mexico's real estate industry
Variety of property types and transaction situations
Experience with non-Mexican clients
References from past clients (to ensure that not only do they have years of experience, but this experience is a good sign.) Returning clients is a good sign.
Once you have selected a broker who matches these criteria and with whom you feel comfortable, ask for a recommendation on a lawyer experienced in real estate transactions for foreigners. This will not be difficult, since they will be familiar with the lawyers with whom past clients have worked, and the quality of their work.
Your lawyer will ensure that the various parts of your real estate transaction, such as contracts and other documents, are formulated properly, and ensure that the clauses included protect your best interests.
The same lawyer will be able to help you with setting up a bank trust to hold your property (necessary in areas near the cost or border) as well as future legalities in Mexico, such as becoming a permanent resident.
Make sure that the processes and legalities of your Mexico real estate transaction are taken care of by qualified professionals; this will leave you free to enjoy your new property!
TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely