Table of Contents
Thinking About Buying Real Estate in Mexico?
Navigating the real estate market in Mexico, especially in popular destinations like Cancún, Playa del Carmen, and Tulum, can seem complex. Working with a trusted, local real estate firm is essential. At Mayan Riviera Living, we pride ourselves on our reputation for providing professional, personalized service to buyers in these beautiful locations. Visit our site for more information
Why More Foreigners Are Buying Property in Mexico
The allure of Mexico’s sun, sea, and vibrant culture continues to draw Americans and Canadians looking for a dream home, vacation property, or solid investment. Purchasing real estate in Mexico is a straightforward process when you have the right team behind you. With a trusted broker from Mayan Riviera Living and a reputable notary, you’ll have a smooth experience from start to finish.
Foreign Ownership Made Easy
Mexico’s Foreign Investment Law allows foreigners to own real estate throughout the country, with certain restrictions for properties within 100 kilometers of the border and 50 kilometers of the coastline. For coastal and border properties, the fideicomiso—a bank trust—is a standard solution, offering foreign buyers full ownership rights and flexibility to sell or pass the property on to heirs. The fideicomiso is valid for 50 years and renewable, and it’s cost-effective, with setup fees ranging from $4000 to $5000 and annual maintenance between $500 and $700.
Alternatively, those looking to invest in land for commercial use can opt for a Mexican corporation, which allows 100% foreign ownership but comes with more reporting and tax obligations. This structure is ideal for those planning to subdivide or develop real estate.
More and more Americans and Canadians are heading South of the Border, seeking the sunshine, beaches, and rich Mexican culture and enjoying the excellent, friendly service of the Mexican people. Many purchase a little paradise down here to enjoy a vacation home, retire, or invest.
Your Team of Experts
Whether buying for personal use or as an investment, involving experienced legal professionals is critical. Your attorney will ensure the property’s legal standing, including title verification and contract preparation, and assist with setting up your fideicomiso or corporation. Working alongside your attorney, a notary, and your bank, we will guide you every step of the way to guarantee your transaction is secure and transparent.
The Buying Process
- Offer and Acceptance: Start with a written offer detailing the price, terms, and deposit. Mexican law recognizes verbal agreements, but written contracts eliminate misunderstandings.
- Promissory Agreement: Once the offer is accepted, a promissory agreement binds both parties. Your attorney will oversee trust applications and legal due diligence, ensuring the property’s clean title and all necessary documents are in order.
- Sales Agreement and Closing: Upon completion of legal reviews and trust documentation, the final purchase agreement is executed. Your notary will facilitate the closing, where the deed is signed, final payments are made, and ownership is officially transferred.
- Title Transfer: After closing, the property title is registered, and within approximately three months, you’ll receive the final deed, allowing you to enjoy your new piece of paradise fully.
At Mayan Riviera Living, we’re here to make your real estate journey in Mexico as smooth and enjoyable as possible. Whether you’re buying or selling, our team is ready to guide you through every step with professionalism and care.
If you’re ready to take the next step in your real estate journey or have questions about buying or selling property in the Riviera Maya, we’re here to help. Contact us today for expert guidance and personalized service. At Mayan Riviera Living, we’re committed to making your dreams of owning or investing in Mexico a reality. Let’s talk and explore how we can assist you in finding your perfect piece of paradise!
