Before buying any property, it is important to make sure the title is free and clear of any liens or encumbrances. Unpaid property taxes are an ongoing lien that cannot be removed. There are also title restrictions that may stay with a property if it has easements, condo
There are many different factors to consider before buying an investment property in Mexico, but it varies greatly by region. We live in Puerto Vallarta, so below are a few local examples of factors that should be considered if you were looking to buy real estate in Puerto Vallarta:
Another one of the main risks of buying real estate in Mexico is that it can be hard to predict how long it will take for a residential property to sell (and it often feels like the more eager you are to sell, the longer it takes).
Mexico real estate market does not function the same as the USA or Canada. To lower your risks, it is advised to have a highly educated, experienced, and credentialed buyers real estate agent representing you. This will help when buying a house in Puerto Vallarta and facilitating a good experience navigating the quirky, non-compliant, misleading, or hidden surprises and scenarios that can be a huge risk to your financial investment. In most scenarios our services are at ZERO cost to you. Below we outline the steps we take to facilitate your property search, and comprehensive evaluation of the property you select to ensure you have a smooth favorable purchase transaction experience.
There are many people involved when buying a house in Puerto Vallarta and surrounding areas, such as Nayarit, Punta de Mita, and Nueva Vallarta, which is why considerable coordination must take place. As a buyer we will be able to designate a transaction manager to facilitate at no cost to the buyer. The transaction manager will coordinate aspects of escrow (when applicable), property tax appraisal certification, drafting the Escritura with the Notario Publico, capital gains tax strategy implementation, set up of Fideicomiso Bank Trust, paperwork sign-off by the Trustee of the bank, Foreigner Permit registration/issuance at the federal government, local government offices, and much more!
Definitely. An international buyer can own land or property through a corporation, and that corporation does not necessarily need to be Mexican - it can be 100% foreign-owned. The option is typically exercised when you are buying strictly for investment or business purposes (e.g. when subdividing and developing land). In doing so, however, you may also have to comply with reporting requirements and may be subject to other restrictions.
\"When buying property in Puerto Vallarta, you should always consult with an experienced real estate lawyer who is familiar with local laws and regulations. Additionally, it's important to make sure that you are buying legitimate, registered property with a clear title, as there are sometimes scams in the area. You should also investigate the surrounding area and potential amenities, such as distance to the beach and local shopping, schools, and medical facilities. Researching the local housing market can also be beneficial to ensure that you are making a sound investment. Lastly, calculate your closing costs to ensure that they are in line with what is expected,\"explained one foreigner living in Puerto Vallarta, Mexico. 781b155fdc