Our last post covered some of the benefits of retiring or being a snowbird in Mexico. Hot weather, beautiful beaches and a vibrant culture and history, are among the main attractions for people looking to retire in this beautiful country. When planning to move, some of the most frequently asked questions have to … [Read more...] about Canadians Living in Mexico: Facts About Buying a Property
Mexico Closing costs
A question that many expats who ownÂ Mexico real estate will be wondering about is the exemption from capital gains taxes when selling a property and how the new immigration laws affect this exemption. The Capital Gains Tax and Itâ€™s Exemption in the Past Very briefly, if an expat sells a property in Mexico, … [Read more...] about Mexico Real Estate & the New Immigration Laws! Part 2 â€“ Tax Exempt Status?
Every transfer of Mexico real estate property MUST, by law, be made before a Mexican notary public. The Mexican notary public is required to have a degree in law.Â He must have a minimum of five years of legal practice, pass a rigorous examination and then be appointed by the governor of the state in which he/she … [Read more...] about Mexico Real Estate Closing Advice and Role of the Closing Agent
Absolutely!Â Not everyone can afford to pay cash for Puerto Vallarta real estate. Fortunately for the rest of us, financing here is readily available. With the turmoil currently being experienced in the US Real Estate market, this is great news for us!Â Although rates and fees are slightly higher than in the US, you … [Read more...] about Can I finance my Puerto Vallart Real Estate Purchase?
During the closing process of real estate in Puerto Vallarta, you must pass your title free and clear of any liens or encumbrances.Â Prior to the closing, the Notario will order a no liens certificate from the Mexico Public Registry.Â Therefore, you will need to pay all utility bills up to the closing date.Â You … [Read more...] about What are my selling costs on Real Estate in Puerto Vallarta?
Mexican law says that Mexico real estate taxes must be paid on the higher of the following: purchase price OR appraised value Since many appraisals in the La Paz real estate market are lower than the actual selling price your taxes will be condisderably lower if the appraisal value is declared Payment on this basis has … [Read more...] about Mexico Real Estate Closing Costs, How to Avoid Unpleasant Surprises
Mexico condos are popular investment options for Americans, Canadians and British and even more so those which are in the pre construction stages But identifying the risks and knowing how to manage such risks are important factors to ensure good returns and avoid costly surprises One question was brought to our … [Read more...] about Q: I bought a Mexico Condo During Construction, How do Exchange Rates Effect My Payment Plan
The Mexico real estate market is many times effected by the exchange rate currencies People can save thousands of dollars from the significant movements of the USD to Pesos exchange, as well as the Canadian dollar to the USD rates Imagine that you are going to pay the closing costs on a Mexico property with a fixed … [Read more...] about Todays Mexico Exchange Rate and the Effect on Real Estate