Those of us living in Mexico from other parts of North America probably take the concept of fair market value for granted. We assume that this measure of value is used in other markets and other countries. Actually, it is not common outside of the USA or Canada to have sold market data. In order to have information about sales prices and to adjust for differences in properties, data must be available.
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Mexican Real Estate Terms to Know
What is an Escritura?Mexican Real Estate Definitions. Ejido: Farming land owned by a legal entity, or group called the Ejido. Collective land that can now be privatized. Foreigners cannot acquire rights to Ejido property. Through a proper process, the Ejido can sell to a Mexican individual. The Mexican can then sell to a foreigner.
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Selling Real Estate in Mexico
Is your agent a coyote?We make choices every day. They need to be informed ones. President Kennedy said: “We choose to stay with the comfort of opinion rather than the discomfort of thought”. A recent discussion with a seller made me realize she needed to become aware of misunderstandings which could happen by her not understanding Mexican immigration and tax requirements.
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Purchasing Real Estate in Mexico
Urgent Updated Info: Escrow & Mexican Real EstateEscrow as we know it in the US and Canada is not required in Mexico. The choice to use escrow is negotiated between buyer and seller. Using a third party to hold funds is what most Americans and Canadians believe is the proper way to purchase or sell a property. A Mexican has a different experience.
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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
