Steps To Buying Real Estate In Mexico
Now that you’re convinced that Mexico is a great place to purchase real estate, you’ll feel even more at ease when you realize that purchasing real estate in Mexico involves very familiar steps which include:
- Locating a property to purchase
- Making and negotiating and offer (ofrecimiento)
- Do your homework and obtaining the proper documentation
- Making the payment
- Closing the transaction
Notario
To purchase real estate in Mexico the services of a Notario is required. If a Notario is not involved in the closing, the transaction is not legal. Duties of a Notario include:
- Establish that there are no prior claims or liens on the property by examining the title
- Validate a seller’s right to sell the property
- Make sure the transfer is legal
- Signing the documents to finalize the transaction
- Preparing, collecting, and making payment of the capital gains, acquisition, and impuestos sobre la renta taxes to the Hacienda
- Issue to the buyer the final deed, the escritua
- Register the transaction with the Public Registr
Real Estate Buyers
If you are considering purchasing land in Mexico it’s very important to get proper representation.
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