Nick Armet writes about investments for a UK firm. He has interesting views on our emotional connection to real estate. Here are some: The asset class of real estate demonstrates a pronounced influence of behavioral bias. Real estate is a highly emotive asset in most cultures. This can help explain phases of ‘irrational exuberance’ in property markets where prices move away from fundamentals.
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Five Important Points
Buying Mexican Real Estate In The Restricted ZoneTo help you navigate buying Mexican real estate in the Restricted Zone, follow these guidelines: Use an attorney. No, all agents are not educated or experienced enough to take the place of an attorney for you. I recommend one who is bilingual and bi-cultural. A client needs to be told what is happening here and how it is different from what he is expecting. Many transactions have closed because a good attorney solved the legal problems of the sale. A good attorney charges a fair fee for his/her expertise and skill.
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Before Buying Real Estate in Mexico
Do Your Due DiligenceJust Do It! You have found the dream property, and you want to make an offer. Everyone involved is very friendly and seems very nice. You trust your new friends, and assume you have protections in place to prevent you from having problems with the purchase. Due Diligence is necessary, and your responsibility is to require it before becoming committed to sending money or being bound by a contract.
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Decisions Affecting Mexican Real Estate
Mexican Real Estate & Anti-Money Laundering LawsMoney laundering is considered to be the crime of ‘operations with resources from illegal origins’ under article 400-bis of the Federal Criminal Code. The money laundering offence is also complemented by the Federal Law Against Organized Crime, which provides higher criminal sanctions for money laundering offenders considered to be members of a criminal organization, and the Federal Criminal Procedures Code, which considers the money laundering offence to be a serious offence and thus limits the ability of any defendant to obtain release prior to conviction.
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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
