	Article Directory		Article Submission Service		Article Marketing Blog		Publishers		Member Log In

Article Directory :: Home & Family Articles

Tips For Buying Property In Mexico

By Jim Labelle

Republish: EasyPublish™
Published: 24Apr2011
Word count: 530
Viewed: 184 time(s)

Get Free Content For Your Site

While beach front property is top dollar in the United States, down in Baja, it is much more reasonably priced. Mexico's low real estate costs, low taxes and inexpensive living costs have made it a very popular destination for both Americans and Canadian retirees. If you want to buy a house in Mexico, you can, but you need to know that there are a few things that differ between real estate laws in the U.S. and real estate laws in Mexico.

1. There are stipulations on where foreigners can buy land. As a foreigner, you will be subject to a different set of laws than Mexican nationals. Land on the coast, for example, can only be bought when a fideicomiso is created. This is a special trust that is created with a bank where the land is 'held' for the foreigner. The trust must be renewed every 50 years and an annual fee is required. If you plan on buying land located within 30 miles from a coast in Mexico, make sure you are fully aware of the laws that exist regarding the fideicomisos.

2. Get a real realtor. In Mexico, it is not necessary to get a realtors license in order to sell property. Unlicensed realtors may not be aware of all of the laws and legalities, so beware of who you are working with. The Association of Mexican Professional Realtors is a national organization that is accrediting realtors in order to create a national standard. By working with an AMPI accredited realtor, you can be assured you are working with someone who knows what they are doing, which could save you frustration in the future.

3. Make sure that the title for the property is completely legitimate. There are many scams in Mexico, and one of them is faking titles for property. To avoid this, work only with a reputable lawyer who will research a title before you purchase it. Never give anyone a deposit for property without making sure a title is absolutely legitimate.

4. Insure your property. Once you buy your dream home in Mexico, be it a condo or a house, insure it. In the past this was difficult to do, as the Mexican insurance companies who sold homeowners insurance did so at high costs and low coverage to the homeowner. Today, you can insure your Mexican home online through U.S. companies with better coverage and lower rates. Getting homeowners insurance on your home in Mexico is the best way to protect your assets.

You should always take precautions to protect yourself from fraud when buying property in Mexico. Use a legitimate lawyer and real estate agent to verify titles and claims. Thousands of North Americans and Europeans are buying homes in Mexico each year and happily living their lives in them. Buying a home in Mexico can be the best decision of your life, just take the time and care to make the right decision and don't be afraid to ask too many questions. With a little diligence and hard work, you will be living in and enjoying your Mexican dream home in no time!

Mexpro.com® is a website owned by International Insurance Group, Inc., the leading provider of Mexican Car Insurance. The first online Mexico Car Insurance broker to offer multiple company options, now offers the best car and homeowners insurance available online.

EasyPublish™ this article - publishers click here