Hello, I’m Thomas Lloyd and this is the Top Tip in a Minute…
Today we are talking about: Buying Property in Mexico
4 Basic Steps Involved in Buying a Property in Mexico:
Now you have found that perfect paradise property, now what? There are four basic step that you have to execute once you find that property.
- Place an offer to purchase. That offer to purchase then matures into a promissory contract.
- During the promissory contract you will setting up the bank trust.
- The next step is to take that promissory contract and convert it into a purchase sales contract. That purchase sales contract is what is formalized with the notary public.
- The final step is to take that notarized title and make sure it gets registered with the public registry.
Now remember, if you are buying a property outside of the restricted zone you do not need a bank trust or a promissory contract.
Those are the four basic steps when buying real estate here in Mexico.
I’m Thomas Lloyd and this has been Top Mexico Real Estate’s Top Tip in a Minute.
Feel free to check out all the other informative Top Tip’s on the Top Mexico Channel.
And remember, here at Top Mexico Real Estate…
We make it happen!
