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

Buying Property in Mexico

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. Mexico does not require funds to be put up by the buyer in order to have a binding offer.   In fact, the country does not require escrow. But for you, as a foreign buyer these two issues are important to understand for your safety. 

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Buying Property in Mexico

What You Need to Know About Escrow

Escrow as we know it in the US and Canada is not required in Mexico. The choice to use escrow is negotiated between buyer and seller.  Using a third party to hold funds is what most Americans and Canadians believe is the proper way to purchase or sell a property. A Mexican has a different experience.  A third-party holding purchase funds is a risk, to a national.  His experience is the opposite: If a buyer wants to purchase a property, he gives the seller a deposit, directly.  When the buyer has all his funds, two parties go to the notary and the deed is signed. Many times, there is no mortgage or trust, so what funds the buyer needs to pay, are paid directly to the seller with no third-party escrow.

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