Real estate procedures in Mexico
Real estate procedures are very different in Mexico, than in USA or another country. There is no "escrow procedure" or "Title" companies, neither "house inspections" before you buy.
Whether you buy directly from owners or through a realtor company, you need to have a good understanding of the Spanish and Mexican law.
Most of the closing costs will fall to the buyer. Deposits usually are made directly to the owner, not to an escrow account. Buying property in Mexico is a process unfamiliar to most and there are risks involved. That is why you need good representation.
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Procedure - applies to most purchases
- Make an agreement on price.
- Purchase agreement stating the parties, property, price, deadlines, etc.
- Downpayment: usually 10% of the total cost.
- Title search
- Free liens certificate.
- Paperwork to the notario`s office.
- Paperwork to get the SRE (Secretary of Foreign Relations) permit.
- Reviewing title at notario´s office to make sure is written correctly.
- Apointment to sign the deed.
- Payment of the total amount.
- Buyer and seller sign the deed at notario´s office.
Buyer´s Agent Service
When you hire Liliana to represents you in your house purchase you are paying for peace of mind and security.
Liliana will represent you not only as buyer´s agent but as your attorney as well.
She will make sure that all escrow steps are done right and on time.
You will also have access to Liliana by email or phone with any questions you may have during the procedure.
Liliana will take care of the whole process even if you have to go back to the USA.
Liliana is fluent in English, so you will be able to understand in your own language what is going on every step of the process.
You will also get an English copy of your sales contract.
Buyer´s Agent Service: $3,000.00 USD (notary fee & SRE fee are not included)
Lower your Escrow Fees
We will waive payment for Buyer´s Agent Service if:
- You purchase one of our listed properties.
- When you hire us as your exclusive Buyer´s Agent.
Liliana will still represents you as your attorney and she will make sure that all escrow steps are done right and on time.
You will have all the services and advantages pointed in the buyer´s agent service without paying the fee.
Closing costs:
We can not tell you exactly the costs, because it will depend on property and particular deal, but this is a common list of expenses:
- Property price.
- Buyer´s agent (preferably an Attorney).
- SRE permit.
- Free liens certificate.
- Notario fee.
- Buyers taxes.
- Seller taxes.
If you have questions or if you want to hire Liliana: call us at our US Phone: 530 313 5087 our office in Patzcuaro: 434 342 6302 or click here to send us a message.
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