When you decide to invest in a Puerto Vallarta home for sale, you are making one of the biggest decisions you will make in a long time. For this reason, it is best to be informed. Excellent information can be found in online Mexico real estate guides; to begin with, there are 5 important points you should be aware of.
Full Property Ownership – You can fully and completely own a property in Puerto Vallarta and other coastal regions in Mexico. There is a special bank trust which is necessary in the coastal region; however, this trust gives you the full legal rights of ownership and actually protects some of your interests above and beyond a regular title. The existence of this bank trust adds an extra step to the purchasing process, but it’s well worth it in any case.
Buying Land – Puerto Vallarta land for sale is an excellent investment, and there are very good lots to be found for reasonable prices. Yet, not all land can be bought by non-Mexicans; some is communally owned and cannot be sold. An experienced, qualified agent will easily be able to direct you to good land options that are in legal order and can be owned by foreign buyers.
Agent Qualifications – This leads to the next point which is selecting an agent. The agent you work with should have official qualifications combined with real experience. Look for certifications, degrees and membership in Mexico professional real estate association (AMPI.) Ask for references and call and talk to their former clients. It’s important to feel good with your agent, but also make sure they are officially qualified to represent you in this important decision. This part of Mexico has no requirements, so it’s up to you to check.
Mortgage Availability – You can buy a home (or a condo) in Puerto Vallarta by means of a mortgage from a Mexican bank. This approach opens greater possibilities for you and more flexibility in terms of budget without touching home equity in your home country.
Purchasing Process – Generally the purchasing process (as well as mortgage qualification process) takes longer than it would in your home country. This rarely causes any complications, but it is best for you to be aware of this fact so you can plan for it.
Buying and owning a home in Puerto Vallarta is a wonderful experience and the first step in an important new stage in your life; inform yourself, and make sure you start on the right foot!
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