Things to Do While Buying Property in Mexico
If you are going to buy Mexican Real Estate, you should take a copy of the actual "escritura" or deed, to the local notary public to check the deed's validity before you commit to anything or make a down payment on a property. This should be given to you by the seller with no hesitation if all of the proceedings are legitimate. If you are buying Real Estate in Mexico from a real estate developer, you should still have the notary public check to make sure that the developer has all of his or her permits, not only for the development, but also for the construction before buying any type property. Remember that no matter how formal or attractive the document may look, that if it promises to give you a deed at some time in the future, it is not a deed, but is instead a sales contract.
When evaluating Mexican real estate, whether it is Cancun Real Estate or Playa del Carmen Real Estate, it is also essential that you have the notary public verify that the land is not "ejido" land, which is a term that means communal, agricultural land. Even though this type of land can be purchased, remember that it is always a very risky deal because it is not actually your property, but is communal, meaning that you are merely allowed to use it.
In short, you should always insist on making any Mexican Properties transfer agreements or transactions in front of a notary public, and do not allow yourself to be pressured by anyone who wants money up front first. You and any other party involved will need to supply proof of full name, marriage certificates, proof of place and date of birth, official photo identification, and your visa before any transactions can take place between you and the seller. This is for your own protection, so be sure to have these documents ready!
Author: Tom Budniak
Related Tags: mexico realtor, mexico real estate, mexico condos, property in mexico, real estate in mexico, mexico beachfront property, cancun condos for sale in mexico
Mexico Real Estate offers investment oportunities like Beachfront Condos, Rental Villas, Apartments etc. If you have any questions or advise regarding Mexican Property, Feel free to contact Tom Budniak of Mexico Realty Executives for the best deals in Cancun, Puerto Vallarta Real Estate and Playa del Carmen Real Estate.
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