{"id":1111,"date":"2010-04-06T23:24:39","date_gmt":"2010-04-07T04:24:39","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/temp-blog\/?p=1111"},"modified":"2021-10-27T17:06:51","modified_gmt":"2021-10-27T22:06:51","slug":"what-should-i-ask-for-before-buying-new-construction-in-the-puerto-vallarta-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/blog\/2010\/04\/what-should-i-ask-for-before-buying-new-construction-in-the-puerto-vallarta-real-estate-market\/","title":{"rendered":"WHAT SHOULD I ASK FOR BEFORE BUYING NEW CONSTRUCTION IN THE PUERTO VALLARTA REAL ESTATE MARKET?"},"content":{"rendered":"

If you are buying in the Puerto Vallarta real estate<\/a> zone and wish to purchase a preconstruction property,\u00c2\u00a0 one of the first things you should request is to see the Deed of Title on the land where the project will be located or \u00e2\u20ac\u0153escritura\u00e2\u20ac\u009d<\/strong>.\u00c2\u00a0 Verify that the Puerto Vallarta land<\/a> is owned by the developer and if the developer is a corporation, ask to see the articles of Incorporation and Power of attorney.\u00c2\u00a0 Is there a master policy of Title Insurance?\u00c2\u00a0 The next items to ask for would be approved construction permits, ground use, feasibility studies and density approvals<\/strong>.<\/p>\n

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Puerto Vallarta Beachfront real estate<\/a> is highly desirable here for obvious reasons, however it is very important to understand that the beach is public property, owned by the Mexican Nation.\u00c2\u00a0 Therefore, it is critical that your development has a Federal Maritime Zone concession<\/strong> and is not encroaching on the federal property.\u00c2\u00a0 Also, if your development runs along the highway, that is ALSO federal zone and subject to setback limitations.\u00c2\u00a0 So take a good look at your parking plans and understand that you will never have a \u00e2\u20ac\u0153deeded\u00e2\u20ac\u009d parking place in the federal zone!\u00c2\u00a0 Typically, developments have a form purchase agreement.\u00c2\u00a0 Ask to see the boilerplate agreement and look for the following items to be included:\u00c2\u00a0 plans and specifications of your particular unit and the common areas, construction calendar and penalty clause in case of non-compliance<\/strong>, rules and regulations for the Puerto Vallarta condominium<\/a> and payment schedule.\u00c2\u00a0 If the sales team is promising specific amenities, these should be detailed in the contract.\u00c2\u00a0 Then you want to know where your payments are going.\u00c2\u00a0 If the developer will be using these funds in order to build the project, what kind of security will he offer in order to insure the project will be completed?\u00c2\u00a0 Is there an administrative trust in place? Is it possible to get a completion bond<\/strong>? If the payments are directed to an escrow account, how will they be released?\u00c2\u00a0 Verifiable levels of completion would protect you better than calendar dates.\u00c2\u00a0\u00c2\u00a0 Finally, and perhaps most importantly, what do you know about the developer?\u00c2\u00a0 Have they completed other projects in the area or in other Mexico real estate<\/a> areas?\u00c2\u00a0 Do they have experience building on the beach?\u00c2\u00a0 If they have had issues in previous buildings, what are they doing to improve yours? \u00c2\u00a0There are many outstanding developments in the bay that have the items listed above on file and will allow you to review them.\u00c2\u00a0 Keep in mind that while the developer is building the project, it is YOUR money that is making it all possible!\u00c2\u00a0 You can make an offer, even on a new development and negotiate a contract<\/strong> that is fair to both you and the developer.\u00c2\u00a0 Purchasing in a new development can be a dream comes true if you use prudence and sound judgment.\u00c2\u00a0 Enlist the help of\u00c2\u00a0your experienced\u00c2\u00a0TOPMexico Realtor <\/a>to help you review documents, contracts and act as your advocate.<\/p>\n

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!<\/strong>
\nMichael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate \u00e2\u20ac\u0153Mexico\u00e2\u20ac\u2122s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely<\/strong><\/em><\/span><\/span>!\u00e2\u20ac\u009d<\/strong><\/em><\/span><\/span><\/span><\/p>\n\n\n\n
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Things to know about new construction in Puerto Vallarta.<\/p>\n","protected":false},"author":59,"featured_media":13709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[448,50,11,49,64,582,456],"tags":[587,481,442],"class_list":{"0":"post-1111","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mexico-buyers-agent-how-to-buy-real-estate-in-mexico","8":"category-mexico-oceanfront-condo","9":"category-mexico-preconstruction-condos","10":"category-mexico-preconstruction-oceanfront","11":"category-mexico-real-estate","12":"category-michael_green","13":"category-puerto-vallarta-real-estate-mexico-cities","14":"tag-puerto-vallarta-beachfront-real-estate","15":"tag-puerto-vallarta-condos","16":"tag-puerto-vallarta-real-estate","17":"entry"},"_links":{"self":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/1111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=1111"}],"version-history":[{"count":6,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/1111\/revisions"}],"predecessor-version":[{"id":1113,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/1111\/revisions\/1113"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media\/13709"}],"wp:attachment":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=1111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=1111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=1111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}