“Amazing, the closings on real estate that I normally purchase last about 4 hours….this one in Mexico only took 40 minutes!” – A Client from Lloyd`s Real Estate who purchased a Condo in Playa del Carmen, Mexico
There are various activites realized in a Mexico Real Estate Closing process (see definition of closing) The first step as we always remind our readers and our new clients who are just starting to look for property in Mexico is …”select a well qualified Realtor to help you through all of the new steps purchasing here in Mexico, they will guide you through the purchasing process activities (SEE POST ON THIS TOPIC)” A good realtor will help you identify Mexico Listings,AND, they will guide you through the legal process, and introduce you to experts in other fields (lawyers, banks, notary publics) to make your operation safe and efficient.
THE MEXICO REAL ESTATEACQUISTION PROCESS
The client arrived to the airport at 12:30 pmStaff from the Lloyd's Real Estate had already sent photos and videos of the Condo unit with a pre-closing walk through
We drove directly to the Notary Public arriving at 1:30 pm The buyer`s lawyer had already written up the purhcase sales contract which had been approved long distance via emails between buyer, seller and coordinating lawyers and realtor
The Notary Public read through the contract to ensure that the buyer and seller understood the clauses (which had already been reviewed through emails) The Notary also confirmed the identities of both the present buyer and seller
The buyer and seller proceeded on signing the purchase sales contract which is bounded and filed within the notary`s books
With the signatures formalized within the Notary books, the escrow agent began connecting and giving instructions electronicallyMonies were then released to all of the planned accounts as instructed in the instruction letter This includes the taxes to be paid by the notary, the notary fees, and of course the money to the seller
The seller, once he made a quick call to his bank officer, verified that his money had been received. He was happy and satisfied, and than gave the keys and other documents over to the buyerWe were in the car again at about 2:10 pm.
“OK, we have our Mexican property!! But we have no beds, no refridge, no tables!!” – Mexico Property Owner
We took a quick trip to Sam`s Club, and to City Club to pack up with the essential living items Refridge, Bed Mattresses, some towels, toilet paper, hey… there's a washer and dryer for sale…take it Throw in the Corona 6 pack!
“Hey, this stuff is not going to fit in your truck nor in my car rental” – Mexico Property Owner
Right outside of these outlets (Sam`s Club and City Club)… delivery services Nice They are private local companies, and have had a good professional service history For $800 pesos, approximately $80 usd They took all of these essential accesories that we purchased on a 20 km trip to the waterfront condo, carried all of these items upto the second floor, helped assemble, and cleaned up all the packaging materials Not bad.
Around 5:00 pm, we were sitting around the pool, catching our second breath, relaxing with the Mexican Caribbean breeze chatting about what type of television set would function best in the condo
What about furniture, where can we find furniture here in Playa del Carmen
One of the first important steps to realize when first searching for property here in Mexico, find a good realtor who is qualified and who will be with you every step to find solutions as you adapt to living in Mexico