Helping You Buy

If you intend to use the property for business, it is easy to form a Mexican Corporation. The property may be purchased by the corporation and 100% owned. Costs of forming a corporation vary from $2,800 to $5,500 USD.

As an added benefit, you can own property larger than 2,000 meters with a Mexican Corporation. The Mexican government currently requires monthly tax filings, so plan to pay a Mexican accountant about $50 to $100 USD a month. Accountants may charge this monthly or annually.

For more information, we can refer you to a knowledgeable attorney that specializes in this type of foreign ownership.

Historically, properties in Mexico have been paid for in cash. Because of this, financing is not as common as it is in the United States or Canada. Additionally, some sellers may be hesitant to accept an offer involving bank financing, as the process can take longer, the outcome may be uncertain, or due to tax-related reasons.

However, in recent years, some financing options have become available. These loans typically have strict approval criteria, requiring a good credit score, and often come with high-interest rates. The down payment is generally around 35%, but other options may be available.

If you’re interested in learning more, please contact me at:
[email protected]

There are a limited number of inspections available, performed by various professionals. However, these inspections are generally surface-level. Most foundations sit on solid limestone, and since there are no earthquakes in this area, any foundation issues are typically visible and apparent.

Roofs are usually made of solid concrete, and any leaks would be easily noticeable. Many older properties may require renovations, including rewiring electrical systems and re-plumbing to meet modern standards. Additionally, some properties advertised as "Fully Remodeled" or "Move-in Ready" may not be completely up to those standards.

In Mexico, properties are sold "as-is," meaning sellers generally do not make repairs.

We always strive to represent all properties as accurately as possible, but we rely on the information provided by sellers. Therefore, we cannot be held responsible for any discrepancies.

Once a price is agreed upon by both the Buyer and Seller, and a purchase contract is signed by all parties, the Buyer has five business days or seven calendar days to wire the property deposit along with other initial upfront fees.

The property deposit is typically 10% of the sale price, though in some special circumstances, it may be higher. These funds are held in a separate depository account designated for this purpose. This deposit serves as a guarantee to bind the contract. Once the escrow payment is received, an extensive title search is conducted to confirm that there are no existing liens or title issues.

The closing process typically takes 60 to 90 days. A few days before closing, you will receive an itemized expense list detailing the full closing costs, which must be paid before the final signing.

If you are unable to be in Mexico for the closing, a limited Power of Attorney can be used, allowing the Closing Attorney to sign on your behalf for this specific transaction. Since it is a Limited Power of Attorney, its validity is restricted to this particular transaction.

In Mexico, closing costs are paid by the Buyer. These include:

• The cost of forming a trust (fideicomiso) or corporation
• Transfer Tax, which varies by municipality
• Attorney and notary fees

We are happy to provide a Good Faith Estimate once you have selected a property.

• Establishing a trust (fideicomiso) typically takes 45–60 days, as a permit must be obtained. This is part of the closing process and is handled by the closing attorney.
• If the property is already in an existing transferable bank trust, (fideicomiso) the process may be faster, depending on the bank administering it. Some trusts are transferable, and others are not.
• Forming a corporation generally takes under 30 days, however before choosing to use a corporation to hold the property, it is recommended that you consult with one of our trusted attorneys. The laws regarding corporations are different than with a fideicomiso, and may not be appropriate for everyone.

People from all walks of life have discovered the historic charm of Mérida and the natural beauty of the Yucatán Gulf Coast. We would be honored to help you explore the many reasons why you’ll fall in love with Mexico.

1. Find an experienced, knowledgeable real estate company.
2. Get your finances in order.
3. Set a budget and stick to it.
4. Understand the local housing market and culture.
5. Choose a home based on things that cannot be changed.
6. Don't sweat the cosmetics, these things can be changed.
7. Know when to compromise on home features & desired neighborhoods.
8. Know when to take advice.
9. Do Give a Fair Offer, don’t "Low Ball", this strategy will not work in your favor.
10. Understand that you can't "Time" the Real Estate Market.