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

Puerto Vallarta Real Estate Basics

Before You Buy or Sell Property in Mexico

Buyer or Seller Beware. There is no compulsory licensing in Mexico of real estate agents.   AMPI, which is the Mexican association of real estate professionals, is the closest organization to the National Association of Realtors and the Canadian counterpart.  Members of AMPI work to regulate and elevate their degree of professionalism in the practice of real estate in Mexico. They have education and a code of ethics.    

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Real Estate Basics to Know

Buying Your Dream Home in Mexico

Here are some of the real estate basics to know and understand before you purchase real estate in Mexico: Understand the scope of work of the notary. The concept of the “notario publico” needs to be explained to the foreigner buyer or seller. The Mexican notario is an experienced, specialized attorney who decides if the seller has the authority and ability to transfer his property. The notary is required to file the fidecomiso or deed with the public registry, and he is a neutral party to the transaction.

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Buying Property in Mexico

Accuracy of Market Data in Order to Have Fair Market 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. 

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Buying Property in Mexico

Why is Fair Market Value Important?

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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