But what about after the closing Owning real estate in Mexico <\/a>is very different from other countries. There are important issues that need to be taken care of. Here is a list of some important post closing issues:<\/p>\n After the closing you can request a certified copy of the titleescrituras and it can usually be obtained in a few days to a week depending on the notary office. Your original title may take several or many months to come back from the registry office so it is a good idea to at least have the certified copy.<\/p>\n 2- Change of ownership in the assessor s office (catastro). When you purchase Cancun real estate<\/a>, or even in most areas of Mexico, it is not automatically changed to your name.<\/p>\n 3- Change of ownership with the federal beach tax office (if the property is beach front)<\/p>\n 4- Change the utilities in your name (or contract these services in case of a new construction)<\/p>\n 5- Homeowner s and hurricane insurance<\/p>\n There are also ongoing obligations that need attention:<\/p>\n 1-Annual Mexico bank trust <\/a>fee. This is the amount paid to the bank where your trust is established. It can usually be paid by wire transfer to make it easier.<\/p>\n 2- Property taxes<\/a> must also be paid annually. You will not receive a tax bill. This tax must be paid at the town halls tax office (predial) and you will need to take a copy of the last year s paid receipt so they may calculate the next year s payment. This tax can be paid in December for the next year. There are discounts for paying the year ahead in this month.<\/p>\n 3- Federal Beach Tax <\/a>is also an annual payment. Some condominiums complexes include this payment in the condo fees, but not all of them so do check.<\/p>\n 4- Homeowner s and hurricane insurance is also paid annually. Usually the insurance company will advise of any payments due, but it is wise to be aware of when your payments are due so your policy does not lapse.<\/p>\n You can normally contract your attorney, Mexico real estate agent <\/a>or property manager to assist you with these obligations.<\/p>\n Cyndi Ader<\/strong>, originally from the US, has been living in Cancun, Mexico for 17 years. She is a member of A.M.P.I. (The Mexican Association of Real Estate Professionals) and is currently a member of the International Relations Committee. She is also an international affiliate of NAR (National Association of Realtors). She is the owner\/broker of Cancun Properties Real Estate and specializes as a buyer s broker.<\/p>\n THE <\/span>TOP<\/span>MexicoRealEstate NETWORK<\/strong> “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely ! ” (512) 879-6546<\/em><\/p>\n Want more Articles <\/strong><\/p>\n Receive articles direct to your inbox. SUBSCRIBE HERE<\/a><\/td>\n Want to see property listings <\/strong><\/p>\n See real estate for sale in my region. CLICK HERE<\/a><\/td>\n Want to learn more <\/strong><\/p>\n Where & How to buy real estate in Mexico. CLICK HERE<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n![\"Cancun](\"http:\/\/i255.photobucket.com\/albums\/hh138\/beatlo\/Check%20List\/notepadpencil1202_small-1.jpg\")
1- Pick up the titleescrituras when it comes out of public registry.<\/p>\n\n\n
\n \n \n \n
![\"Page](\"http:\/\/banners.copyscape.com\/images\/cs-gy-234x16.gif\")
<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"