Select Mexico Properties

For many years, buying property in Mexico was a difficult proposition, for citizens and foreigners alike. Property laws offered little to no protection for the buyer, buyers and sellers alike had little legal support or recourse if a deal went bad, and lenders in the US were unwilling to write loans for property. In itself, this was a problem, since most real estate transactions in Mexico were closed on a cash basis.

Thanks to changes in Mexico’s laws, buying property in Mexico is much safer for the foreign investor than it has ever been before. With the new laws in place, it is much easier for foreign owners to make a legitimate ownership claim on land purchased here, and it is easier to spot bogus land offerings. Buyers in some places in Mexico – such as Puerto Vallarta – can get title insurance for their real estate purchases, which provides another level of protection for the buyer.

Mexican law forbids direct foreign ownership of land that is within 100 km of a national border or 50 km of a coastal boundary. However, it does provide a mechanism for non-citizens to “own” these properties. People who wish to buy properties in these designated zones may hold the property in a trust called a fideicomiso. The title to the land is held by the trust, which is overseen by a Mexican bank.

Ownership claims on all properties in Mexico must be registered by a notario publico. In Mexico, a NP acts more like a judge than a notary public in the US. The notario publico’s responsibilities include making sure that all sellers present clear title to the land for sale, that land sales conform to all Mexican laws and that the sale/purchase of a property is properly recorded to support or refute later ownership claims on property.

The Mexican Federal government instituted these provisions to halt fraudulent land claims and sales in Mexico, to protect the interests of Mexico and to encourage foreign investment in this country. Despite these protections, investors are well advised to work with knowledgeable real estate professionals and attorneys when effecting the purchase or sale of land here in Mexico. If you’re considering buying property in Mexico, Select Mexico Properties can help you find the Mexican real estate professionals you need to close your investment purchase.

Photo Credit: Philippe Ramakers

Category: x mex
Keywords: mexico_investment_property, mexico_real_estate_investments, retirement_investments, puerto_vallarta_real_estate

Headline:
Puerto Vallarta Real Estate Makes The Ideal Retirement Investment

As the clock ticks down toward retirement, many workers are becoming concerned that they don’t have sufficient assets to consider retirement. If the recent market losses have taken their toll on your retirement investments and have left you looking for an opportunity to recover your savings, consider purchasing Puerto Vallarta real estate.

Puerto Vallarta real estate can bolster your retirement investments in more than one way. First, the overall cost of purchasing land and building an investment-caliber home are relatively small. You can build a luxury home for a fraction of what the same home would cost in the US.

Second, the cost of living in Puerto Vallarta is very low. If you choose to live here, you’ll be able to stretch your retirement dollars much farther. In addition, you can find excellent health care, personal support, clean water and a peaceful and relaxing environment in Puerto Vallarta.

Third, the appreciation of Puerto Vallarta real estate has been phenomenal in the past ten years. Double-digit growth is the norm here. In addition, the market is expected to heat up even more, and many analysts expect to see property values double here in the next five years.

Fourth, there is a ready market for home sales. If you decide you don’t want to live here, or plan to build a house “on spec” you can be sure that you can find an interested buyer easily. Many retirees and soon-to-be retirees from all over the world are buying property in Puerto Vallarta. Many real estate investors come from the US and Canada, but Puerto Vallarta has also captured the attention of European and Asian investors who are looking for a way to beat the high cost of living at home.

If you’re serious about improving your retirement investments, don’t wait any longer. Select Mexico Properties has about 100 premium residential building sites available in San Pancho, just north of Puerto Vallarta. You will not find more beautiful luxury residential sites anywhere in this area. Look elsewhere if you would like, but when you’re ready to improve your retirement position, contact a Select Mexico Properties sales representative and let us help you get going on your retirement dreams.

Photo Credit: Bill Davenport

The Mexican real estate market has undergone significant changes in the past several years. Mortgages are now available, whereas just a few years ago, most property transactions were executed on a cash basis. In addition to conventional mortgage lending, property owners can now take advantage of construction and refinancing loans.

One major change is the availability of title insurance. As in the US, title insurance protects buyers from sellers who attempt to sell property that they do not possess a clear title to. Properties within 50 km of the coastline are eligible to be owned by non-Mexican citizens as long as the property is held in a special trust arrangement called a fideicomiso. A bank usually oversees this land trust.

Despite these protections, it’s essential to have good advice when buying real estate in Mexico. The process of buying land and financing purchases is undergoing radical changes right now. As in the US market, lenders do come and go, and some sellers can also offer seller-financed purchases.

Select Mexico Properties has real estate professionals and real estate attorneys on staff in both the US and Mexico who can help you navigate the sometimes complicated process of buying Mexican real estate.

In addition to offering assistance through the sales period, Select Mexico Properties can also offer help after the sale, when it comes to designing and building the custom home in Mexico you’ve always wanted. Our architectural and engineering professionals have extensive experience in home design and construction in the Puerto Vallarta area. These skills are absolutely necessary to guarantee the beauty and structural integrity of your new home.

If you would like more information about buying land or building a luxury home in Puerto Vallarta, please contact a Select Mexico Properties sales representative today. Our representatives can help you through the process of buying Mexican real estate.