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

Mexican Real Estate

What Buyers Should Know About Real Estate Escrow and Deposits

If you have found a property, and you want 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.

CONTINUE READING

Buying Property

Real Estate Escrow in Mexico

Escrow as we know it in the US and Canada is not required in Mexico. Using a third party to hold funds is what most Americans and Canadians believe is the proper way to purchase or sell a property, but a Mexican has a different experience and the difficulty arises for non-Mexicans in our market when they have to purchase within a Fideicomiso trust for property near the oceanfront.

CONTINUE READING

Mexican Real Estate

4 Priorities for Property Buyers

Insist on a comparative market analysis of the” solds” and a list of the competition on the market for any villa or condo you are considering buying. Don’t take no for an answer. Although it is true that historically there has been a history of not recording true sales prices in the Mexican public registry, this doesn’t have to continue, and it is illegal. You, as a buyer have the right to information before you spend your money.

CONTINUE READING

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. 

CONTINUE READING
1 2