Thinking of Buying land in Mexico? Want to know the do’s and don’ts of buying land in Mexico? Our guide gives you the facts and information you’ll want to know.
There are several reasons why buying land in Mexico is appealing to the US buyer. Many US citizens are opting out of the rat race and looking for a more relaxed place to enjoy life at a pleasant pace, and for many buying land in Mexico is the ideal thing to do. Consider that in combination with the fact that the price of buying land in Mexico is much cheaper and you get a lot more for your money than you would in the states and the prospect of buying land in Mexico becomes even more attractive.
Even people who are considering moving to Mexico permanently are still interested in buying land in Mexico for investment purposes. The current stagnation in the US housing market has led many investors to look south of the border for more lucrative opportunities. According to many people in the know some of the hottest real estate opportunities to be had right now are in Mexico, particularly along the as of yet undeveloped Costa Maya.
Many people are put of the idea of buying land in Mexico because it’s a foreign country where the laws and regulations are different and the idea of completing all that paperwork and cutting through the red tape just seems too much. Although there are affair few steps you have to take to actually buy your land in Mexico, most of it is quite straight forward and can be done with a little determination.
Buying Land through an Agent in Mexico
One of the greatest potential pitfalls you can fall into when buying land in Mexico is going through with the deal with an agent who is less than reputable. In Mexico, there is no such thing as a real estate license and no industry regulation. This means anyone who fancies themselves as a real estate agent can set up shop and start conducting business regardless of their training and knowledge of the industry. Make sure you find a well known real estate agent, preferably one who has experience of helping foreign national buy land in Mexico. This will mean they know the procedure well and can help you.
Use a Lawyer when Buying Land in Mexico
It is really important to hire a competent lawyer to review all the paperwork involved in the land buying process. The most important step is getting the land title put in your name and you’ll need a good lawyer to check that the land you are buying doesn’t have any catches to it that will land you in trouble or out of pocket.