How To Buy Property In Mexico at Buying

How To Buy Property In Mexico. Property purchases by foreigners in mexico take place through the fideicomiso system. Buying property in mexico will require you to engage a notary to draw up a sale contract, but otherwise the legal requirements are pretty thin.

Steps to purchase a property in mexico offer to purchase and acceptance letters. There are three ways of owning mexican property: These are the basics of how to buy a home in mexico and it is recommended that you use a trusted ampi (asociacion mexincana de profesionales inmobiliarios) or in english “professional real estate association in mexico”.

Mexico Peso Currency Exchange Rate

This is usually done in the form of a “promissory agreement” ( contrato de promesa ), which your attorney will draw up. Although the mexican law accepts verbal agreements, it’s safer to keep it everything documented. As i did not have a job to go to in mexico, i chose to apply with retirement status. Properties within 50 km of the coast or 100 km from a border will have to purchase the property(a house or a condo) through a trust with a mexican bank known as a fideicomiso.