I have written several articles on the Yucatan real estate purchasing process here in Mexico Articles about the role of the Mexico Notary Public, about rectifying property measurements, and even about Mexico real estate taxes Below are the last points I wish to share with you before covering other topics dealing with owning property in Mexico
CORPORATION CAPITAL GAINS taxes are a little more complicated. If you are holding title by utilizing a FOMC (Foreign Owned Mexican Corporation) you are definitely going to want to employ a good accountant He or she will be able to help you reduce your ISR debt when you sell.
Title insurance is available in Yucatan and Quintana Roo Advise your agent and notario that you would like title insurance.
MEXICO MORTGAGE LENDERS
There are mortgage lenders that will loan to foreign buyers Ask you agent for a reliable lender Keep in mind that lenders in Mexico usually require a minimum 30% down stroke, interest rates are typically higher than in the USA, there are many hoops to jump through and junk fees are pricey Deals that involve a mortgage usually take more time to close and often cause a lot ofbrain damage for all parties.
Mitch Keenan has been a Licensed Broker in the United States since the 1980s. He holds a GRI and a CRS from NAR (National Association of Realtors). With over ten years of living and working in the Yucatan real estate industry, Mitch brings American business ethics and Mexico business experience together to give buyers unparalleled service. 512-879-6546
THE www.TOPmexicorealestate.com NETWORK
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