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

Playa del Carmen Sellers FAQs

- Q: How do I price my home?

A: The best way to determine accurate pricing on your home is to have a qualified real estate professional to your home to take a tour of your home as if they are a prospective buyer. Our agents will walk the home with you, take detailed notes, ask a multitude of questions and will then provide you with a pricing recommendation after they have researched the similar and recent sold comparable.

- Q: Will you know the best list price of my home when we first meet

A:No. All of the agents at Playa Realtors Corp Real Estate subscribe to a two-step market method. This means the first meeting with you will be to gather information about the home and the property. The agent will not arrive with a pre-conceived notion of what your home is worth. This is the most accurate way to determine pricing because each home is so different than the next that it would be impossible for an agent to guess what amenities your home has before they even step foot in it. That's why our agents work through pricing in two steps. The first step is our meeting and tour with the seller and the second step is our research of sold comparable which includes making adjustments to the sold comparable for the amenities they either have or lack in comparison to your home. We will then deliver a report back to you via email for you to review with the sold comparable and our pricing recommendation.

- Q: Why should I use a real estate agent?

A: While the dawn of the modern age has made searching for homes very easy, it has also made the real estate transaction very complicated. Due to the constant change in laws, contracts, standards of practice and so much more, having a real estate agent in your corner ensures that you are receiving the proper guidance not only to get you the best price for your home with the best set of terms, but also to ensure that you are mitigating as much risk as possible. In addition, a real estate agent will absorb the cost of all marketing up front without any cost to you and will ensure that once you are under contract, that your transaction flows as quickly and easily as possible to the closing table. We keep a checklist for absolutely everything to ensure we are hitting all the dates, deadlines, provisions and contingencies of each unique contract.