Buying real estate in Mexico can be made easy by being well advised by an accredited legal Firm or complicated by allowing others to surprise you by saying “no problem”, walking away from good counseling, inducing you to enter leonine contracts where you will most likely lose money without getting what you had been offered and without the structure for an adequate legal defense.
The first thing you need to know as a foreigner in Mexico is that when intending to buy a condo, house, or timeshare with purchase option, is that you cannot hold a property title under your own name for specific blocks of land as specified in Article 27 Section I of the Mexican Constitution. This law bans aliens from direct land or water property ownership within a 62 Miles (100 KM) strip along the border lines and 31 Mils (50 KM) from the coast lines inland.
The only way to hold property within said restricted zones is through a trust agreement or by holding equity in a proprietor Mexican corporation.
The majority of condos in Mexico are owned under the “Condominium Regime”, implying that within the same edifice you will find individual properties such as exclusivity property units (your condo, parking space, warehouse, etc.) as well as common areas and goods (swimming pools, gyms, green areas, picnics, and grills) to which you may access and enjoy as long as you pay your condominium fees.
Every Condominium Regime is incorporated through a Condominium Property Deed and the corresponding Rules, as well as a Condominium Assembly conformed by each condo owner.
It is also important to point out that realtors in Mexico are not regulated.
There are also foreign realtors with no working visa or permit where they may not truly represent your interests but only theirs to collect a commission.
There are honorable exceptions, but the majority will tell you anything to convince you to close the deal.
That is why in CARVAJAL CAMERAS, there are specialized attorneys operating from the United States and in Mexico, who understand the risks Americans, Canadians and other foreigners may face, providing accurate counseling and representation, preventing them from falling into skimmers hands and negotiating in their best interest, deals and warranties protecting their investments.
We aim to inform and work with our clients from the first moment via an introduction to the Mexican real estate world, overviewing titles, contracts, records, permits, litigations regarding their prospects providing a feasibility report or otherwise to prevent from entering a bad deal.
When decided upon the property, we enter into contract negotiations to avoid disproportionate, unlawful, and risky clauses, continuing to the agreement maturation when getting into a presales deal and lastly the closing including paying the balance, taxes, notary fees, trust fees and securing the trust fund agreement.
Our work continues with the property inspection before delivery, making sure all what offered is in place and operating or otherwise is remediated. At completion we hand-over all fiduciary titles, contracts and further documentation dully translated into English.
Occasionally the builders or condo sellers offer the buyer the option of vacation rentals of their property. This offers a great option to make money, however, also implies high risks of liabilities if not adequately managed.
Our group of experts in Vacation Rentals can take care of mediating agreements and warranties executing what our clients had been offered and keep liabilities regarding injuries, death, or loss of property inside your Condo extremely low or inexistent.
We are not realtors, so this does not create a conflict of interest. Our mission is representing and protecting our nationals and foreign client´s investments in Mexico, building trustful long-term relationships and holding your estate in the most dedicated hands.
Our fees are reasonable since we go the extra mile for our Clients to ensure the securing of a 100% bulletproof transaction.
Do not enter Mexico in the dark, we are here to light-up your way.
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