Can foreigners really own property in Mexico?

es! Today, Mexican laws give foreigners the ability to own real estate in Mexico. There is, however, a Restricted Zone that extends 50 km inland from the coastline. Outside the Restricted Zone, a foreigner may acquire land and be direct owners of the property with all the rights of a Mexican national in compliance with Mexican Law. Inside the Restricted Zone, there are two alternatives for foreigners who wish to buy real estate. Since 1973, foreigners have been able to purchase coastal property through a Mexican bank trust, known as a Fideicomiso.

Can I get financing for my real estate purchase in Mexico?

Unfortunately, at this time, there are no financing or mortgage options for foreign buyers in Quintana Roo. This can change at any time and updates will be posted.

What about the availability of title insurance?

Beginning in 1996, Stewart Title Mexico began underwriting title insurance for Mexican properties at an approximate cost of 1% of the insured amount. Other types of insurance, including property, liability, damage, and earthquake, are all readily available in Mexico, at low cost, and policies can be written to pay claims in U.S. dollars.

What can I expect to pay in property taxes?

Property taxes have historically been low in Mexico because they have never been considered a source of governmental revenue. Known as Predial, the tax is calculated as a percentage (currently .25% of the assessed value), determined at the time of sale. Generally speaking, you can expect to pay $100usd per $100,000usd of assessed value yearly.

Who will manage my property when I am not using it?

Choosing the right Property Management company can mean the difference between an excellent appreciating investment and a huge liability. If you are a property owner in search of Property Management, we are happy to be able to refer you to the best, most professional Property Management companies and will gladly arrange a meeting with their teams. The right management company for you will take the time to a construct a cohesive plan that will best serve your particular needs and help you to realize your property's maximum potential and protect your investment.

Why should I consider buying property in Mexico?

The coastal real estate market in Mexico is booming. Mexico's economy, the 9th largest in the world, values and encourages foreign investment dollars and especially tourism; Mexico is a top world-destination for both vacation and retirement among US and Canadian

Buyer’s Agent Job Duties & Responsibilities

Prospect for both seller and buyer leads, convert leads to appointments & close for buyer agency agreements.
Conduct a thorough needs analysis to ensure fiduciary service to all buyer clients.
Ensure that buyer clients are pre-qualified with mortgage lender.
Show homes to prospective home buyer clients.
Identify homes to show that meet buyers’ criteria.
Schedule showings of homes with buyer clients, listing agents and/or home sellers.
Refine buyers’ criteria and select additional homes to show as necessary.
Write & submit all offers to purchase homes for buyer clients.
Negotiate offers to purchase and oversee entire negotiation process.
Schedule and attend on-site property inspections with clients and vendors.
Negotiate all inspection repairs.
Provide buyer clients access to homes under contract as needed for measuring, inspecting & etc.
Promptly return all buyer client telephone calls, texts and/or emails.
Gather and answer buyer questions about potential homes and local community information.
Provide buyer clients pricing information and market research.
Educate buyer clients about home buying process.
Regularly assure buyer clients that lead agent is involved & informed – Promote the team concept
Keep lead agent informed on all client communications and developments (copied on all emails & update notes in CRM).
Close buyer clients to written offers to purchase.
Train, mentor and assist in the hiring of additional buyer’s agents and showing assistants.
Communicate diligently with administrative staff to ensure the highest level of service to buyer clients from initial contact through contract to close.
Regularly attend team meetings.
Attend all office training for working with buyer clients.

Buyer’s Agent Production Expectations

Lead Sourcing – Buyer’s Agent is expected to generate an equal amount of leads & closed transactions from Buyer’s Agent’s own Center of Influence (COI) and general prospecting efforts to match the number of leads & transactions generated by the team an ultimately closed by Buyer’s Agent.
Team Generated Leads – (definition) Apply the “But-For Test”: But for the existence of the team & it’s listings, would the lead have been generated? So inbound calls from signs on listings and internet inquiries from online listings would be considered Team Generated Leads since but for the team & the listings they would not have been generated in the first place.
Buyer’s Agent Generated Leads – (definition) Leads generated from Buyer’s Agent’s own COI and other prospecting efforts like Expired Listings, For Sale By Owner (FSBO), Just Listed/Just Sold contacts and etc. Any listings generated by Buyer’s Agent will be counted as Buyer’s Agent Generated Leads for sourcing purposes too.
Activity Tracking – Buyer’s Agent is expected to input & report all prospecting and client servicing activities regularly for accountability and to keep the rest of the team informed.

JOIN OUR TEAM! AND GO BEYOND

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