If you are taking Mexico real estate financing as an option on your purchase south of the border, you need to make sure that the Condo has a master condo policy
A master condo policy protects the outside of the building along with insurancing all of the common areas that are owned by all of the Condo owners…..Many Condo's that are sold in Mexico don't have these policies in place.. For many banks that might be a problem….they will not finance a property in Mexico without this policy A single family residence on the other hand, doesn't need this type of insurance…..and in many cases be much easier for a bank to loan money on.
Just a thought before you begin your search.
Doug Payette
Partners Mortgage Services
860-399-7776
