Posts Tagged ‘property’

Books about retiring and living in Mexico

There have been several books written on the topic of living, investing, buying real estate and living in Mexico. A few of these are listed below with a summary of each for your convenience. This is not an endorsement of the books or topics but rather a guide to help you decide if the material is of use to you. We have not read or ordered the books but the summaries indicate that the books would be useful for foreigners living in Mexico. (more…)

Closing and title services by IdeaCOM

Corporate, Closing and Title

  • Trust preparation
  • New corporations to acquire properties
  • Pre-sale contracts
  • Buy-sell contracts
  • Fusion and subdivision of properties
  • Notary service oversight (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…)

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…)

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…)

Bank Trust and Notary Services

Foreign ownership of Mexican property is now secure. In recent years, the laws regarding property ownership in Mexico have changed dramatically for non-Mexican citizens. The advent of NAFTA, improved world-wide technology and sweeping changes in Mexican politics have made purchasing property in Mexico a much easier and more secure process, especially for residents of Canada and the United States. (more…)

Real Property Purchases

Real property taxation in Mexico
Mexico Taxes when purchasing a property

U.S. and Canadian buyers of real estate in Baja California are surprised at how high “closing costs in Mexico” are at the moment of property title transfer. The seller pays almost no taxes for the sale if it is their permanent home and can demonstrate that with utility bills in their name and identification listing the property as their domicile. If it is income property or an unimproved lot, the taxes to the seller are a 26 percent tax (impuestos sobre la renta) of the sales price or property appraisal, whichever is highest. And the buyer pays 4.3% of the sales price. Appraisals are typically one half the sales prices. (more…)

Escrow and Closing Services

Escrow; Third Party Security

When purchasing a property one of the most important issues to address for both a buyer and seller is how and under what conditions the funds will be safely transferred. In an international transaction this issue is even more important as it is often complicated, as both the purchaser and seller may not be familiar or comfortable having funds deposited in an unfamiliar jurisdiction, or with an unfamiliar attorney or bank. (more…)

Why Title Insurance?

Why Title Insurance?

When you decide to buy a property you must be certain that after the sale has been completed you will be the true owner of the property. You need to be confident that no liens, encumbrances or other impediments will prevent your free use and enjoyment of the property. (more…)

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