Private Lender or Mexican Bank Mortgages or Developer Financing in Pre-Construction. Reduce Your Risk by Conducting Due Diligence. Mexico’s real estate market is almost entirely a cash market. Individual sellers most often have paid cash themselves, and they need cash back at closing. In this case, you need all cash, or you may be able to qualify for a Mexican Bank loan or a private lender.
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Expats and Mexican Real Estate
North American Real Estate ConnectionsNorth American real estate connections (Mexico, Canada, and the USA) have many similarities besides their obvious physical proximity. Their citizens move back and forth between all three for business and pleasure. Each of the countries rates the others at the top of their list for second homes. Currently, Puerto Vallarta is enjoying an important first position for expat interest in Mexico. With popularity, comes visibility and the potential for many individuals and businesses in the chain to benefit personally and economically. With visibility, come scrutiny. With scrutiny comes responsibility.
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Comparables, Escrow and Legal Advice
Three Priorities for Buyers of Mexican Real EstatePriority 1 – Comparables. Insist on a comparative market analysis of the “solds” and a list of the competition on the market for sale for any villa or condo you are considering buying. Don’t take no for an answer. Historically there was a precedent of not recording true sales prices. You, as a buyer have the right to information before you spend your money. Until buyers start requiring this information, the normal process of looking and making offers will be problematic. Opinion is cheap and thought requires work.
CONTINUE READINGBecause Expertise, Experience & Integrity Matters
Contact us today to get started
Harriet Murray
Owner / Agent
Email: harriet@casasandvillas.com
USA/Canada: +1 (504) 298-6730
Puerto Vallarta: +52 (322) 223-4027
Puerto Vallarta Cel: +52 (322) 205-7550
