Archive for the ‘Buying and selling property’ Category

Obtaining and renewing FM3 or FM2 documents

In addition to obtaining and renewing migratory documents, it is important to consider permits and notifications once you have one. See our article on such procedures. Below we have summarized the procedures and requirements for obtaining and renewing your visa (migratory document such as FM3 or FM2).

See our handy citizenship study guide reference here.

You can get the FM3 before leaving your home country at a Mexican embassy or consulate, then must register it (similar to applying again) upon arrival in Mexico or can apply for the first time once you are in Mexico and before your tourist card expires.

An FM2 is what most people obtain after having an FM3 for five years. It is a less restrictive form of residency or immigrant permit for foreigners in Mexico. After the FM2, residents often seek citizenship. (more…)

What foreigners can and can’t do in Mexico

When residing in or visiting Mexico as a foreigner, whether or not you have an FM3 or FM2, there are certain important things to keep in mind. (more…)

FM3, FM2 – changes and notifications

In Mexico, foreigners need to have a permit/visa to stay in the country longer than the days allowed by the tourist card/visa.

There are certain benefits and obligations to having a visa in Mexico, the most common of which is an FM3. See our article on obtaining the visa here.

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IMSS Medical Insurance

Link to current rates of a similar level of service. The rates quoted here are for Mexicans living in the US that wish to continue service for their family members in Mexico. Rates for individual and family insurance are no longer published on the IMSS site but old rates from 2006 are quoted below. To obtain current rates, we inquire on a case-by-case basis.

Link to video and article by Kelly Cobiella of CBS about health care in Mexico, filmed in Manzanillo (more…)

Practical Information about Real Estate in Mexico

In the 1917 United Mexican States Constitution, in their 27th article points out that ownership of the lands and waters within the boundaries of the national territory is vested originally in the Nation, which has had, and has, the right to transmit title thereof to private persons, thereby constituting private property. (more…)

Legalizing of Documents for Property Transfers

Real Estate & Finance

The Apostille, making a document legal for use in Mexico

By Linda Neil

In Mexico, the ONLY authority permitted to draft a deed transferring real property or an interest in real property (such as the fideicomiso) is the Mexican Notary Public. This person is different from a notary public in the United States where a simple exam, a bond, and a rubber stamp can make a notary public out of most people. Nor is it similar to Canada’s Notary Public who must meet a few more stringent requirements to qualify. Not so many, however as the Mexican Notary. (more…)

Special Considerations for Closing and Conveyance

Important notes:

  • Typically ALL closing costs are paid by the buyer, each operation differs in terms of the costs, but it can be a considerable amount and should always be investigated before closing
  • ALL paperwork (the deed, lien search, etc.) should be reviewed by a notary and a lawyer before laying down any money (more…)

Debunking Myths

Owning Real Estate in Mexico

BUYING MEXICAN REAL ESTATE

Mexico has thousands of miles of pristine coastline, wonderful colonial cities which boast architectural wonders stretching back many hundreds of years, and diverse expatriate communities of Americans and Canadians scattered throughout the country. The Mexican government is encouraging the expansion of tourism and investment in Mexico. Anyone can acquire real estate in Mexico if some simple rules are understood. (more…)

Closing Cost Information for Buyers and Sellers

Closing Costs for Buyer and Seller

Closing costs for the buyer are different from what many foreigner buyers first expect in Mexico. Because the majority of the Bay of Banderas is in the restricted zone, a foreigner buyer must own his residence in a trust. (more…)

Details on Closing Costs

The WHAT, WHY and HOW of closing costs…..

Estimated Closing Costs is a list of the standard charges involved in the transfer of the rights in the property purchased in Mexico. The total cost can vary depending upon the circumstances. It is generally prudent, however, for the buyer to set aside 3% to 14% of his budget to pay these costs. (more…)

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