A foreigner owning a home in Mexico is an easy option to think about thanks to a lot of the loose restrictions that are included in the buying process. Even though it may not be easy to purchase a property in the country, it’s actually normal to own property in Mexico, as approximately 80% of residents live in homes occupied by owners. Purchasing property is pretty straightforward; however, there are a few legal hoops that you will have to jump through as well.
Here are three ways in which you can successfully purchase property in Mexico.
Avoid All Scams
There are all sorts of scams popping up every single day, a lot of times to the point where it can make you feel that purchasing a property in Mexico is something that’s next to impossible. Thankfully, there are ways in which you can avoid falling for these types of scams, such as the following:
*Obtain a referral
*Become familiar with the market
*Take the time to meet the seller
*Opt for a home inspection
*Do not mail actual money to anyone
*Trust your instincts
Speak With a Property Agency
Always consider speaking with a real estate agent if you’re considering purchasing property in Mexico. If you decide to attempt to search for a property on your own, you will run the risk of missing over half of the properties that are available in your area of interest. You should also consider negotiating with the agent to take their realtor fees down prior to working with them.
Online listings of properties in Mexico continue to grow in popularity, meaning that it can be difficult to locate a website that has all of the information you need regarding what’s all available. Regardless, it’s still a great idea to utilize the internet to find more information regarding available properties.
Thank you for visiting the Lawyer from Mexico blog, an Austi-based Mexico real estate lawyer. If you are thinking about buying property in Mexico contact us for a free consultation.