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

Mexico Resort Real Estate Update

AMPI’s Seventh Symposium – Centros Historicos is Big Success

The following news is shared with us by the Settlement Company© of Los Cabos. For the seventh year in a row, The Mexican Association of Real Estate Professionals (AMPI) organized and presented a Symposium on the historic centers of Mexico. The purpose of these events is to focus on the renewing and modernizing of Mexico’s major urban areas. This year’s Symposium was held in Mexico City (CDMX) at the historic Palacio de Mineria (Mining Palace.) More than 300 attended the two-day event. The opening reception was at the Plaza Garibaldi (a.k.a. “The Home of the Mariachis.”) in the tequila museum. There are about 15 restaurants at the plaza and mariachi groups were performing in many of them FederalGovernment officials were at the conference along with civic officials from several Mexican cities. Two sessions were especially popular and informative. The first was a panel that presented case histories of the restoration and modernization of their municipalities.  

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Civil Law Systems in Mexico

So goes the law, so goes the practice of Real Estate

Mexican Civil Law is not the Same as English Common Law. This makes a difference to you as a buyer or seller. Civil Law and Common Law – Legal systems around the world vary greatly, but they usually follow civil law or common law.In common law, past legal precedents or judicial rulings are used to decide cases. Under civil law, codified statutes and ordinances rule.

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Complete your due diligence first

What should buyers know about real estate escrow and deposits?

If you have found a property, and you want to make an offer, I recommend the following: Your offer should include time for you to conduct due diligence, an inspection, or other concerns.  Beware of your having to put your deposit into the escrow company before these issues are resolved.

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Questions to ask your real estate agent

How Do You Pay a Fair Price?

I probably don’t need to tell you to do research and ask questions of your real estate agent before you make an offer. Ask for: Research Recently Sold, Comparable Properties. A comparable property is one that is similar in size, condition, neighborhood and amenities. One 1,200-square-foot, recently remodeled, one-story condo should be listed at roughly the same price as a similar 1,200-square-foot condo in the same neighborhood.

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