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

Understanding Negotiating Styles

Canadian and American Business Practices

If we understand social and business customs of our neighbors, it is easier to accomplish an objective between parties.In our market of Puerto Vallarta from Barra de Navidad in the south to Lo de Marcos on the north, we have the three nationalities living and working together. Here we reference the Canadians and Americas while in their own countries. Next, we will review the Mexican business practices and highlight their differences from their two North American cousins.

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Buying Property in US or Canada vs Mexico

CASH VERSUS MORTGAGE

USA and Canada Market. Mortgages are Common. A developer borrows money based on conditions of the lender. Feasibility or viability of the project is based on data: sales prices, sizes, number of bedrooms, features. Lenders can also require other data such as absorptions of similar properties, what amount of inventory is for sale. Will the project come on stream at the time it can be sold and absorbed? Will the projections of sales pay for the mortgage and interest?

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Expats and Mexican Real Estate

North American Real Estate Connections

North 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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