Mexico Real Estate – A Lifetime Vacation

Mexico is probably one of the countries that most people would choose to visit on a vacation. But imagine that you could go there to your own place and spend any free time you have during the year or your own home to retire when your time comes. Sounds great, doesn’t it? Well, it may not be impossible after all!

Mexico is bursting with real estate values! While prices will vary in different areas of the country you will find that similar real estate in the United States and many European countries is much more expensive than Mexican real estate. So, in the end, it is great value for money to purchase a house or property in Mexico. Beautiful beaches, lush inland territories, you will find the tropical climate of Mexico great for retirement or vacation homes.

But before you may be able to make your dream come true, there are certain things you must learn and know. So, in order to take advantage of the wonderful real estate prices “south of the border” you will need to educate yourself about the local Mexican policies and how they apply to you. Make sure you understand well how the law works in this country as you may find some differences between Mexican and American laws.

First thing you must do is to find a Mexican Notary Public to guarantee the transaction follows all laws. A Mexican Notary Public serves the same role as one in the United States. They are respected officials appointed by a high member of government. The Notary is a licensed attorney and has been through specific training for Notaries.

Employ the services of an attorney for yourself to be a liaison between you and the Notary Public. You will have to ask to see the “cedula professional”, this is a license to practice law in Mexico.

Find a property and agree to a price with the owner. Your attorney works with the Notary Public to draw up a contract of sale that will satisfy both parts.

You will also need to apply to the Foreign Secretary’s office to purchase the property.

Get a copy of the land and property deeds for the Notary to examine. The Notary will arrange for an appraisal to be completed.

Have your paperwork in order. This will include your approval for mortgage; you’re proof of payment of any fees that are applicable etc.