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Everything you need to know about buying and selling real estate in Mexico, Puerto Vallarta, and the Banderas Bay region

Buying Property in Mexico

What You Need to Know About Escrow

Escrow 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.  A third-party holding purchase funds is a risk, to a national.  His experience is the opposite: If a buyer wants to purchase a property, he gives the seller a deposit, directly.  When the buyer has all his funds, two parties go to the notary and the deed is signed. Many times, there is no mortgage or trust, so what funds the buyer needs to pay, are paid directly to the seller with no third-party escrow.

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Pre-construction and Resale Property

Ethics and Real Estate in Puerto Vallarta

This article is about pre-construction, new developments, as well as resales. There is a particular ethical and moral way in which buyers and sellers should deal with each other, and most of the time, the person who has to keep the negotiation on this level is the agent (agents) involved. This is our responsibility to recognize and require that everyone involved work on the highest level of reason and fairness.

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The Fideicomiso and Why it is Important

Can Foreigners Own Beachfront Property in Mexico?

A client who recently bought a condo in Puerto Vallarta, called and said, “Please write a summary of the basic points of foreign ownership: so that not only I can speak about it better, but to teach or remind other foreigners what a unique opportunity we have to own properties near the ocean in Mexico.” This is a summary of the characteristics of a fideicomiso trust:

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Mexico Real Estate Law

Consumer Protection for Pre-Construction Buyers

If you are considering buying pre-construction in this market, the builder should have been approved for promotion on FBS FLEX and he should have an offer contract following these statutes for your protection, and more if you can negotiate them. Here is a translation for you to read.  For property advice, seek the counsel of a qualified attorney and your choice of real estate agent.

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