Our Objectives:
- Provide access to all properties and developments available not only in pocket listings but also through our Multi List System and real estate agencies.
- Explain and simplify the complete purchase-sale process, by giving a quality service and assistance.
Real Estate Information
How to Own Property in Mexico
Foreigners are able to purchase coastal and border properties in Mexico through a trust deed established by a Mexican bank. The trust deed assures foreign buyers of all rights and privileges of ownership. They are established for a term of 50 years and renewable upon termination. This process protects the rights of foreigners and verifies that the transaction to be legal.
The restricted zone, according to Article 27 of the Mexican Constitution, is all land located within 100 kilometers of any national border and within 50 kilometers of any ocean. The Article 27 of the Mexican Constitution states that no foreigner will be allowed to acquire direct title to land within the restricted zone. In Mexico the Foreign Investment Law allows foreigners to acquire indirect title of land in the restricted zone by one of two methods; through a Mexican corporation or through a bank trust (fideicomiso).
Property Taxes: The property taxes in Puerto Vallarta are very low; the rate is 0.115% approx. of the assessed value, tax to be paid annually.
Home Insurance: Local insurance companies provide Broad Form Insurance coverage besides a wide range of insurance policies - vehicles, property, liability, damage, and earthquakes - all easily accessible at reasonable rates.
Financing: the acquisition of property in Mexico is carried out virtually in cash; nonetheless in limited cases, financing by the owner is available. Find financing through a Mexican bank or find financing through a mortgage financing company in Mexico. Many foreigners find funding in their country of origin based on their existing assets in that country. Banks in the US and Canada are restricted by law from lending on foreign property.
Public Notary: (notary-at-civil-law)
In Mexico, according to the Law, the Notary is a public officer. Its role is to give an official and unquestionable character to acts he writes. The deeds are indeed a value comparable to that of a final ruling. Thus, each of the acts for which he acts the Notary verifies the legality of the legal situation before him and has the duty to inform its clients on the legal consequences they produce. The Notary is responsible for the review, preparation and certification of all records of property upon closing of the purchase agreement by transferring the title to the new owner.
Official Documents:
Non-lien Certificate from Public Registry
Tax appraisal of the property |
