When buying real estate in Mexico for the first time, your key resources will include a professionally prepared Mexico real estate guide, and your Mexico agent. Although the agent will be your ultimate key to a safe transaction, the guide will help you give you some preliminary guidelines.
A well-prepared guide to buying Mexico real estate safely from top industry professionals will provide some key information for you, including:
What to look for in your Mexico broker – You will find a list of possible qualifications for your broker, including degrees, certificates and membership in Mexico's professional association for real estate (AMPI.) Mexico's laws about who can promote their services as a real estate agent are looser than in the U.S. or Canada, making it your job to investigate and see if the broker of the office you are working with is indeed qualified; "gut feeling" is important as well, but the ideal is a combination of a good feeling about the person you are working with and concrete qualifications.
Attributes of your Mexico agent – Within the office, you may be working with an agent who works under the direction of the broker. Your agent should know the area well, and have a dedication to finding the property best for your needs, rather than rushing a sale, or selling a property that is the bestt interest of someone other than you.
Key steps in buying a property – Some parts of the process of buying real estate will be similar in Mexico to those in the U.S. or Canada, others will be slightly different. It's good for you to be familiar with how the process works here, so you are not surprised to find out, for example, that it takes twice as long to get approved for a mortgage.
Laws in Mexico relevant to foreign ownership of property – Mexico has certain laws about ownership of property near the border and near the coastline. While it is perfectly legal and safe to own property in these areas, again it is best for you to know about the processes and features involved to avoid surprises or doubts when these steps in the purchasing process arrive.
With this background information under your belt, you will be well prepared to find a qualified agent and undertake the process of finding and buying a property in a new country. This experience should be one of the most important of your lifetime; simply informing yourself is a solid first step in making sure that it is also one of the best.
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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