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

Mexico Laws & Disclosures

Delays and Procedures in Real Estate Transactions

The September 11 attacks in 2001, which led to the Patriot Act in the US and similar legislation worldwide, led to a new emphasis on money laundering laws to combat terrorism financing.[8] The Group of Seven (G7) nations used the Financial Action Task Force on Money Laundering to put pressure on governments around the world to increase surveillance and monitoring of financial transactions and share this information between countries. Starting in 2002, governments around the world upgraded money laundering laws and surveillance and monitoring systems of financial transactions.

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Fair Market Value in Puerto Vallarta

Real Estate Pricing and Value

Those of us living in Mexico who are 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 needs to be available. If we start out with the objective to have fair market value, where do we as consumers normally go? There are no websites as in Canada and the USA such as Zillow and Trulia offering a large number of properties for sale as well as average sales prices by areas.  Until two years ago, there was no genuine multiple listing system for AMPI agents as a group to collect data effectively to advise a buyer or seller on fair market value.

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Important for Buyers and Sellers

Real Estate and Civil Law in Mexico

Mexican Civil Law is not the Same as English Common Law. This makes a difference to you as a buyer or seller. Legal systems around the world vary greatly, but they usually follow civil law or common law. In common law countries, case law is in a form of published judicial opinions and is of primary importance; whereas in civil law systems, codified statutes predominate.

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Owning Real Estate in a Foreign Country

Becoming an Expat in Mexico

Hi, I am Harriet Murray from Puerto Vallarta, Jalisco, México. PV has been my home for 23 years. It was not a planned stay….. I had come to Vallarta for a week in September for almost 10 years before the fateful extra trip in 1996. It occurred to me this time, since I was alone and not distracted by other friends, what would happen if I decided to stay and live, for the first time in my life, outside the USA.  My friends thought I was either crazy, or I would change my mind and not stay any longer than a few more weeks.

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