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

Real Estate in Mexico

Why You Should Do Your Homework When Selling Real Estate

A seller needs to know when he offers his property for sale, if he has an exemption or whether he will pay capital gains tax. When an offer comes in, it will usually say that both buyer and seller agree to their usual closing costs. For the seller, capital gains tax is an expense.

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The Purchase of Real Estate

Buying Property & Real Estate in Mexico

Foreigners (non-Mexican) are able to purchase real estate in Mexico. They may directly own rural or urban land in the interior of Mexico with certain limitations on specific agricultural tracts.  In the restricted protected zone, a Trust Deed is used.

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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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Terms You Need to Know

Mexican Real Estate Definitions

Ejido:  Farming land owned by a legal entity, or group called the Ejido. Collective land that can now be privatized.  Foreigners cannot acquire rights to Ejido property.  Through a proper process, the Ejido can sell to a Mexican individual. The Mexican can then sell to a foreigner.

FM3: Foreign Immigration Visa for Foreigners. Issued for retirement or work purposes to non- Mexicans. Persons with FM3’s can stay within Mexico longer than the tourist visa permits. This document establishes residency and is renewable every year.

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