Buying property in Mexico is very similar to buying property in the US or Canada. However, there are some differences that you need to understand so that you can make educated decisions. Even when you have a great team on your side, comprehending the options available for buying property in Mexico is the best course of action to protect yourself.
There are many similarities with the purchasing process in the rest of North America. Nevertheless, buying property in Mexico comes with its unique set of policies and laws concerning real estate and foreign ownership.
For example, did you know that, as a foreigner, you need special permission from Mexico's Secretary of Foreign Affairs as a condition to complete the purchase? Or that any property located in the restricted zone requires you to set up either a bank trust or a Mexican corporation? Do you understand the difference between a Buyer's Agent and a Seller's Agent, or why will need a notary public when buying property in Mexico?
Ensure that you are following the right steps. Download our ebook Buying Property Safely in Mexico. This free ebook includes the essential pieces of information that you need to consider when buying property in Mexico. These topics include:
- An overview of the purchasing process
- Bank trust and the restricted zone
- What goes into an offer to purchase
- What is a promissory contract and how to use it
- The key players in a Mexico real estate transaction
- Closing costs and how to estimate this expense
This ebook is an ideal resource for you to start your Mexico real estate experience, addressing all these topics in a manner that is easy to understand. Our goal is to ensure that buying safely in Mexico is also a satisfying, enjoyable, and rewarding experience for you.