|
IMPORTANT
INFORMATION |
|
|
1.
Your Mexico real estate purchase contract should be no less detailed
than in your own country. A foreigner's rights and recourse are near
nonexistent without an attorney approved purchase contract. It can be
most helpful to work with a lawyer who works for an Internatational
firm i,e. Ernst & Young, Baker & McKenzie licensed to
practice
law in Mexico.
|
|
|
2.
All purchase funds should be
placed in a neutral, third party escrow
with specific instructions for disbursement of funds.
|
|
|
3.
Always obtain Mexico Title
Insurance
from a reputable international title insurance company. Please be
advised that the very important local Notario who handles your Mexico
real estate transaction is acting without any liability for his
service. The Notario is not liable for defects in title and the Notario
is certainly not liable for lack of disclosure from the seller.
|
|
|
4.
It is always advisable for a buyer to retain professional real estate
broker services for analysis of the many factors which can affect the
value and security of your real estate investment.
|
|
|
5.
It is strongly recommended that you consult a qualified attorney before
investing in uncompleted developments of any kind. There can be little
or no recourse when a developer fails to complete a proposed project
and it is not uncommon for projects to lack proper completion bonds,
permits and licenses.
|
|
|
Types
of Ownership in Mexico
Buyer Beware:
Mexico real estate prices that seem too good to be true are usually too
good to be true! Many of these "bargains" are located on what is
commonly referred to as "Ejido" or communal tracts of land. It is
highly recommended that you consult with a Mexico attorney regarding
Ejido land rights.
|
|
|
Please
verify all information for your own purposes. |
|
|
Be
sure that
the property you want has the availability of an Environmental
Assessment
|
|
|
Cancun MLS MX |
|
| Mexico
Real Estate Market Perspective |
|
|
In
Mexico, the housing sector is experiencing an important transformation,
from being heavily dependent on government subsidies to being market
driven. The sector appears to be on a path to sustainable growth,
independent of direct government funding and/or subsidies. In response,
competition is heating up,particularly in the banking and real estate
sector, where commercial banks and mortgage banks are striving to gain
market share or a dominant position in the country’s
fast-growing
mortgage market.
|
|
|
The
real estate market for second homes for leisure and vacation purposes
is booming. In Mexico the niche is valued at USD 5.3 billion. Most of
the activity is centered on new markets such as Cancun , The Riviera
Maya ,Playa del Carmen,Puerto Peñasco, Puerto Vallarta, Los
Cabos and San Felipe in Baja California.
The
Wall
Street Journal reports that about one-million Americans currently live
in Mexico, including 157,000 active-adults — buyers age 55
and
over. That segment is expected to grow as retirees are attracted to the
weather, the proximity to the U.S., affordable cost of living and
access to good quality health care.
|
|
|
