Frequently Asked Questions For Buyers

The first step in the home-buying process is knowing how much you would like to invest, considering that Mexico is a cash market, or getting pre-approved for a mortgage. This helps determine your budget and allows you to make a strong offer when you find a property you like.

1. 1. Is it true that Mexico’s real estate market operates primarily on a cash basis? Yes, it is true. Mexico’s real estate market is predominantly a cash market, meaning that cash transactions are more common than mortgage financing. Buyers are typically expected to pay for the property in full at the time of purchase.
   2. Why is Mexico considered a cash market for real estate? The cash-based nature of Mexico’s real estate market is influenced by several factors. One of the primary reasons is that mortgage lending practices in Mexico are not as developed or accessible compared to other countries. This leads to a higher reliance on cash transactions.
   3. Are there any exceptions to the cash-based market in Mexico? While cash transactions are prevalent, it’s worth noting that there are limited financing options available in Mexico. Some developers or sellers may offer financing directly, known as owner financing, where buyers make installment payments over an agreed-upon period. However, these arrangements are less common than cash purchases.
   4. Can foreigners buy property in Mexico with cash? Yes, foreigners can buy property in Mexico with cash. There are no restrictions on cash purchases based on nationality. However, it’s important to ensure you comply with the Laundry Law and foreign ownership regulations.
   5. Are there any advantages to buying property in Mexico with cash? Buying property with cash in Mexico can offer several advantages. Cash transactions tend to simplify the purchasing process, as they eliminate the need for mortgage applications and potential delays. Additionally, sellers may be more inclined to negotiate a lower purchase price when presented with a cash offer.
   6. What are the risks associated with cash purchases in Mexico’s real estate market? As with any cash transaction, there are inherent risks involved. Buyers should exercise caution to ensure the legitimacy of the property and the seller. Engaging our services with Playa Realtors, conducting thorough due diligence, and obtaining professional legal advice are essential steps to mitigate risks.
   7. Can I use a bank transfer or cashier’s check for a cash purchase in Mexico? Yes, bank transfers and cashier’s checks are commonly used for cash purchases in Mexico. It’s crucial to ensure that the funds are transferred securely and verified by all parties involved in the transaction. Working with a reputable bank and following proper protocols will help ensure a smooth transfer of funds.
   8. Are there any tax implications related to cash purchases in Mexico? There may be tax implications when purchasing real estate in Mexico, regardless of the payment method. It is advisable to consult with a tax professional familiar with Mexican real estate laws to understand and fulfill any tax obligations associated with your cash purchase.
   9. Can I finance a property in Mexico through a foreign bank or lender? While it is possible to explore financing options through foreign banks or lenders, it’s important to note that the availability of such options may be limited. Foreign lenders may have specific requirements and higher interest rates, so it’s crucial to research and consult with financial institutions experienced in cross-border transactions or simply CONTACT US.
   10.  What is the difference between being pre-qualified and pre-approved for a loan? If you are pre-qualified, you MAY be able to get a loan for a certain amount assuming that all of the information you provided to your loan officer is accurate and true. If you are pre-approved it means you have undergone a rigorous extensive financial background check which includes looking at your entire credit history, previous tax returns, and verifying your employment.
   11. How long does the loan process take? The number of days from the time you apply for your loan to closing is most typically around 45 days. Some lenders are quicker, and some are slower. Variables such as loan type and property type can impact your contract to close time. Before your agent drafts an offer, they will discuss with your lender the amount of time needed to close on your contract.
   12. Can I get financing for my real estate purchase in Mexico? YES, of course!! Do not hesitate to contact us immediately, WE ARE EXPERTS IN THIS AREA. You can be prequalified digitally.

Digital Prequalification: Once the information is reviewed, you will be provided with an estimate of the loan amount, interest rates, monthly payments, etc. This takes us approximately 1 business day.

What documentation is required? In most cases, you will need to provide:

1. • Passport, driver´s license, birth certificate, or utility bill.
   • Paystubs.
   • Tax returns.
   • Bank statements.
   • Asset statements.
2. Can I buy a home if I have bad credit? Having bad credit may make it more challenging to secure a mortgage. However, there are loan programs and options available for individuals with less-than-perfect credit. Consult with us to explore your possibilities.
3. How much do I need for a down payment? The down payment amount varies depending on factors such as the purchase price, loan type, and lender requirements. Generally, down payments range from 20% to 50% of the home’s purchase price.

The coastal real estate market in Mexico is booming. Mexico’s economy, the 9th largest in the world, values and encourages foreign investment dollars and especially tourism; Mexico is a top world destination for both vacation and retirement among US and Canadian citizens.

1. What are the advantages of buying property in Quintana Roo, Mexico? Quintana Roo, Mexico offers numerous advantages for property buyers. Some key advantages include:
   1. Thriving Tourism: Quintana Roo is home to world-renowned tourist destinations such as Cancún, Playa del Carmen, and Tulum. Investing in property here provides opportunities for vacation rentals, generating rental income, and potential capital appreciation.
   2. Beautiful Beaches and Natural Wonders: Quintana Roo boasts stunning white-sand beaches, crystal-clear turquoise waters, and lush tropical landscapes. Owning property allows you to enjoy these natural wonders and immerse yourself in the region’s captivating beauty.
   3. Diverse Real Estate Options: Quintana Roo offers a wide range of real estate options to suit various preferences and budgets. From beachfront condos and luxury villas to charming colonial-style homes, there is something for everyone.
   4. Favorable Climate: Quintana Roo enjoys a warm tropical climate throughout the year, making it an ideal destination for those seeking sunshine and pleasant temperatures.
   5. Growing Infrastructure: The region has seen substantial infrastructure development in recent years, including modern amenities, improved roads, healthcare facilities, and educational institutions. This growth enhances the quality of life for residents and adds value to real estate investments.
2. Are there any financial benefits to buying property in Quintana Roo, Mexico? Yes, buying property in Quintana Roo can provide financial benefits, including:
   1. Potential Rental Income: With Quintana Roo’s strong tourism industry, owning a property here opens up opportunities for generating rental income. Vacation rentals are in high demand, particularly in popular tourist areas like Cancún, Playa del Carmen, and Tulum.
   2. Favorable Return on Investment: Quintana Roo’s real estate market has experienced consistent growth in property values over the years. Investing in the region can yield a favorable return on investment, especially considering the continuous influx of tourists and growing interest from international buyers.
   3. Cost of Living: Quintana Roo offers a relatively affordable cost of living compared to many other popular destinations. This affordability allows residents and property owners to enjoy a comfortable lifestyle while managing their expenses effectively.
   4. Are there any cost benefits in terms of property maintenance and upkeep in Quintana Roo? Yes, Quintana Roo provides cost benefits in terms of property maintenance and upkeep. The cost of property maintenance, including utilities and services, is generally lower compared to other popular real estate destinations. This means that you can maintain your property and enjoy a comfortable lifestyle without incurring substantial expenses.
   5. What about HOA (Homeowners Association) fees in Quintana Roo? Quintana Roo often offers properties with low HOA fees compared to similar properties in other regions. Homeowners Association fees are typically used to cover common area maintenance, security, and shared amenities. The lower HOA fees in Quintana Roo can help reduce your overall property ownership expenses.
   6. Affordability: Lower tax obligations, maintenance costs, and HOA fees contribute to the overall affordability of property ownership in Quintana Roo. This allows you to manage your expenses effectively and enjoy the benefits of property ownership without breaking the bank.
   7. Enhanced Property Value: By keeping ongoing expenses low, property owners can allocate resources to improving and maintaining their properties, leading to enhanced property value over time. This can result in increased appreciation and potential gains when selling the property in the future.
3. What about lifestyle benefits of owning property in Quintana Roo? Owning property in Quintana Roo provides numerous lifestyle benefits, such as:
   1. Access to World-Class Amenities: Quintana Roo is known for its luxurious resorts, spas, golf courses, fine dining establishments, and vibrant nightlife. As a property owner, you have convenient access to these world-class amenities, enhancing your lifestyle and offering endless entertainment options.
   2. Cultural and Historical Significance: Quintana Roo is rich in Mayan history and culture. The region is home to ancient ruins, archaeological sites, and cultural festivals that allow you to immerse yourself in the vibrant local traditions and history.
   3. Outdoor Activities: Quintana Roo offers an array of outdoor activities, including snorkeling, scuba diving, fishing, and exploring cenotes (natural sinkholes). The region’s natural beauty provides a playground for adventure enthusiasts and nature lovers alike.
   4. Wellness and Relaxation: Quintana Roo is a haven for wellness retreats, yoga centers, and holistic healing practices. Living here allows you to embrace a healthy lifestyle and find balance amid the serene natural surroundings.

Working with a real estate agent can be highly beneficial. They have expertise in the local market, access to listings, and can guide you through the entire buying process, including negotiations and paperwork.
Remember, it is always advisable to consult with local experts, such as Playa Realtors, as your trusted real estate professionals. We can connect you with experienced legal advisors and tax specialists who are well-versed in the specific nuances of Mexico’s real estate market. By working together, we can ensure a smooth and secure transaction, providing you with valuable guidance and comprehensive support throughout the entire process.

1. Is it true that Mexico does not have an MLS (Multiple Listing Service)? Yes, it is true. Mexico does not have a centralized MLS system that lists all available properties for sale. The absence of an MLS makes it more challenging for buyers to access a comprehensive database of properties on their own.
2. Why is it mandatory to have a professional licensed advisor in real estate when buying property in Quintana Roo, Mexico? Having a professional licensed advisor in real estate is mandatory in Quintana Roo, Mexico, due to the absence of an MLS. These advisors possess in-depth knowledge of the local market and have access to a wide range of listings through their professional networks. Playa Realtors play a crucial role in helping buyers find suitable properties, navigating legal requirements, and ensuring a smooth transaction.
3. Can a realtor from the United States or Canada serve as a realtor in Quintana Roo, Mexico? No, a realtor from the United States or Canada cannot directly serve as a realtor in Quintana Roo, Mexico. Real estate laws and regulations vary from country to country, and Mexico has specific requirements for real estate professionals. To operate as a licensed realtor in Mexico, individuals must complete the necessary training, obtain the appropriate certifications, and comply with local licensing regulations.
4. Why is it important to work with a licensed advisor in Mexico rather than a foreign realtor? Working with Playa Realtors in Mexico offers several advantages. They possess specialized knowledge of the local market, including property values, neighborhood dynamics, and legal requirements. They are familiar with the intricacies of the Mexican real estate system, which significantly differs from systems in other countries. Their expertise ensures that buyers receive accurate and reliable information tailored to the Mexican market.
5. What are the legal implications of using a foreign realtor in Quintana Roo? Engaging a foreign realtor to represent you in Quintana Roo can have legal implications. Mexican real estate transactions are governed by Mexican law, and it is essential to work with professionals who are well-versed in local regulations. Foreign realtors may lack the necessary expertise and understanding of Mexican laws and practices, which could lead to potential complications or legal issues during the buying process.
6. Can a licensed advisor in Quintana Roo assist with legal and documentation requirements? Yes, a licensed advisor in Quintana Roo can assist with legal and documentation requirements associated with purchasing property. Playa Realtors is knowledgeable about the necessary paperwork, contracts, permits, and other legal aspects involved in real estate transactions in Mexico. Our expertise ensures compliance with local regulations and helps protect your interests throughout the process.
7. Can a licensed advisor in Quintana Roo help with property inspections and due diligence? Absolutely. Licensed advisors in Quintana Roo can facilitate property inspections and conduct thorough due diligence on your behalf. Playa Realtors  has access to trusted professionals who can assess the condition of the property, identify any issues, and provide comprehensive reports. This information is vital for making informed decisions and negotiating terms during the buying process.
8. Are there any risks in relying on a foreign realtor who is not licensed in Mexico? Relying on a foreign realtor who is not licensed in Mexico poses risks. They may not have the necessary understanding of local laws, cultural nuances, and market dynamics. This lack of expertise could result in misunderstandings, legal complications, or missed opportunities.
   To ensure a smooth and successful transaction, it is highly recommended to work with Playa Realtors who specializes in the Mexican real estate market.
   In summary, due to the absence of an MLS in Mexico and the unique legal requirements, it is mandatory to work with a professional licensed advisor in real estate when buying property in Quintana Roo. 
9. What are the advantages of working with a licensed advisor in real estate? Playa Realtors in real estate bring a wealth of expertise and experience to the table. Playa Realtors understand the local market trends, property values, and legal requirements. Playa Realtors guidance can help you make informed decisions, negotiate favorable terms, and ensure that your interests are protected throughout the transaction. Check public registration of licensed Brokers and Realtors https://drive.google.com/file/d/1cP7sbi33uxBqhExVz0VrhM3DIFms6kBU/view
10. Can a licensed advisor help me find properties that are not listed online? Yes, licensed advisors in real estate often have access to exclusive listings and off-market properties that may not be publicly advertised. Playa Realtors has extensive networks within the industry and can leverage their connections to identify suitable properties that meet your specific requirements.
11. How can a licensed advisor assist me in navigating the local real estate regulations and laws? Real estate regulations and laws in Mexico, including Quintana Roo, can be complex, especially for foreigners. Playa Realtors Licensed advisors are well-versed in these regulations and can guide you through the legal aspects of the transaction. They ensure that all necessary documentation is in order, assist with property inspections, and help you understand your rights and responsibilities as a buyer.
12. Do licensed advisors provide assistance with due diligence? Yes, Playa Realtors licensed advisors play a vital role in conducting due diligence on properties. Playa Realtors can help verify property ownership, check for liens or encumbrances, review permits and zoning restrictions, and assess the property’s overall condition. Playa Realtors expertise ensures that you have a comprehensive understanding of the property before making a purchase.
13. Can a licensed advisor help with negotiations and the purchase agreement? Absolutely. Playa Realtors Licensed advisors are skilled negotiators who can represent your best interests during price negotiations and other terms of the purchase agreement. Playa Realtors work to secure the most favorable terms and conditions while ensuring that your rights and financial investment are protected.
14. Are there any risks in buying property without a licensed advisor in Quintana Roo? Buying property without a licensed advisor increases the risk of encountering legal and financial complications. Without their guidance, you may not fully understand the local market dynamics, legal requirements, or potential pitfalls. By working with Playa Realtors you can minimize these risks and have peace of mind throughout the buying process. 

Finding the right property involves understanding your needs and preferences. You can search online listings, work with a real estate agent, attend open houses, and explore neighborhoods to find the perfect fit for your lifestyle.

1. Is it true that Mexico does not have an MLS (Multiple Listing Service)? Yes, it is true. Unlike some other countries, Mexico does not have a centralized MLS system that lists all available properties for sale. Instead, properties are often listed by individual real estate agencies and may not be easily accessible through a single database.
2. Why is it important to have a professional licensed advisor in real estate when buying property in Quintana Roo, Mexico? Having a professional licensed advisor in real estate is crucial in Mexico, especially in areas like Quintana Roo. Since there is no MLS, these advisors have in-depth knowledge of the local market and access to a broader network of listings. They can help you navigate the complexities of the market, identify suitable properties, and provide valuable guidance throughout the buying process.

Yes, foreigners can own property in Mexico, including Quintana Roo. The Mexican Constitution, through the establishment of the “Restricted Zone,” outlines certain regulations for foreign ownership of property in specific areas, including coastal and border zones. However, foreigners can still acquire property in these zones through a safe and legal mechanism known as a “Fideicomiso” or a Mexican bank trust.

1. How does the Fideicomiso (Mexican bank trust) work for foreign property ownership? Under the Fideicomiso system, a Mexican bank acts as a trustee on behalf of the foreign buyer. The bank holds legal title to the property while the buyer, as the beneficiary of the trust, retains all the rights, privileges, and responsibilities of ownership. The trust is established for a specific period, usually 50 years, and can be renewed or transferred to other beneficiaries.
2. Are there any legal restrictions on foreigners owning property in Quintana Roo? No, there are no specific legal restrictions on foreigners owning property in Quintana Roo. As long as the property is not located in a prohibited zone, such as close to the coastline or border, foreigners can acquire and own property in Quintana Roo through the Fideicomiso mechanism.
3. What legal protections are in place for foreign property owners in Quintana Roo? The Mexican legal system provides legal protections for foreign property owners in Quintana Roo. Property ownership rights and safeguards are enshrined in the Mexican Constitution and reinforced by various laws and regulations. These protections ensure that foreign property owners have secure and recognized ownership rights, similar to Mexican nationals.
4. Are there any additional legal matters to consider when buying property in Quintana Roo? When buying property in Quintana Roo, it is essential to work with a professional licensed advisor in real estate who is knowledgeable about local laws and regulations. They will guide you through the legal process, assist with due diligence, review contracts, and ensure compliance with all necessary legal requirements.
5. Can foreign property owners enjoy the same property rights and benefits as Mexican nationals in Quintana Roo? Yes, foreign property owners in Quintana Roo can enjoy the same property rights and benefits as Mexican nationals. They have the right to use, sell, rent, or transfer their property, subject to the laws and regulations governing property ownership in Mexico.
6. How can a licensed advisor in Quintana Roo assist with legal matters related to property ownership? A licensed advisor in Quintana Roo specializes in the local real estate market and is well-versed in the legal aspects of property ownership. They can provide valuable guidance on legal matters, including understanding property rights, navigating the Fideicomiso process, conducting due diligence, and ensuring compliance with local laws and regulations.
7. What is a Fideicomiso?
   A fideicomiso is a real estate trust held on your behalf by a Mexican bank of your choosing (Scotiabank, HSBC, Banamex (Citigroup), Santander, etc.). The bank acts as the Trustee, and you and those you designate are the Beneficiaries of the trust. As the beneficiary of the trust, you maintain complete control over it, retaining the use of the property and making all investment decisions. This is not a lease; it is equivalent to a Living Trust in the US. A fideicomiso bestows upon the Beneficiary of the Trust (you) absolute and irrevocable control over the property: to enjoy, lease, improve, mortgage, sell, inherit, and will. As stated, your property is placed in a trust you own to be administered by a Mexican bank on your behalf.
8. Why is a Fideicomiso necessary?
   The purpose of the fideicomiso is to allow foreigners to buy prime Mexico real estate inside the “restricted zone” and ensure a safe and secure transaction. The restricted zone is any land within 31 miles (50 km) of the coastline and 62 miles (100 km) of the borders. When created, the Mexican Constitution was designed to protect their land and prevent the massive land loss they had endured throughout their history. Rather than amend its constitution, Mexico created and added the fideicomiso to encourage foreign investment in highly desirable areas, particularly along the coastline. Residential properties outside of the restricted zone can be acquired directly by foreigners without needing a bank trust, although some buyers opt to use it.
9. Is the Fideicomiso an asset of the bank?
   No. Your trust is not an asset of the bank; they are merely the stewards of the trust. You and those your designate are the beneficiaries. The trust to your Mexico real estate property is held by the bank for the beneficiary (you) and is not considered an asset of the bank therefore not exposed to any legal action that the bank might find itself in. The trust is the beneficiary’s property.
10. Can the Government take my Property?
    Foreigners often worry about their land being expropriated by the Mexican government. Under the North American Free Trade Agreement, NAFTA, Mexico may not directly or indirectly, expropriate property except for a public purpose (i.e. building roads). And only through a legal condemnation proceeding will this be possible. In the rare case where it is necessary to expropriate land, the government will pay swift and fair market compensation to the owner, together with accrued interest. This is the same process known as Eminent Domain in the USA, Compulsory Purchase in the UK, or Expropriation in Canada. Insider Tip: If you have ever heard one of those stories about someone getting their property taken by the Mexican government, it is because the unfortunate person bought Ejido land, which is untitled land that only a Mexican national can legally own. Ejido land is the only land in Mexico that is without a title.
11. What are the Types of Mexican Corporations?
    There are several different types of Mexican corporations, however, the two most common are a limited liability corporation (LLC) and a limited liability partnership (LLP). Choosing which type of corporation to set up is important for tax purposes in both the US and Mexico and you should speak with an attorney or accountant on both sides of the border to understand the benefits and costs each one entails. Making sure the choice is made correctly from the beginning will save you time and money.

In addition to the down payment, buyers should budget for closing costs, which typically include fees for appraisal, inspections, title search, and insurance. It’s important to discuss these costs with your Playa Realtors real estate agent and lender.

The timeline for buying a home can vary depending on factors like market conditions, financing, and the complexity of the transaction. On average, it takes 30-60 days from the time an offer is accepted to the closing date.

To make an offer, you’ll need to work with your real estate agent. They will assist in drafting the offer letter, including the purchase price, contingencies, and any additional terms. The seller can accept, reject, or counter your offer.

Contingencies are conditions that must be met for the sale to proceed. Common contingencies include the satisfactory completion of a home inspection, obtaining financing, and the sale of your current home.

Yes, you can negotiate the price of a property. Your Playa Realtors real estate agent will help you determine a competitive offer based on market conditions and comparable sales. Negotiations typically involve back-and-forth communication with the seller.

The closing is the final step in the home-buying process. It involves signing all the necessary paperwork, paying closing costs, and transferring ownership of the property. You’ll receive the keys to your new home once the transaction is complete.

To protect your investment, consider purchasing homeowner’s insurance, which covers property damage and liability. Regular maintenance and repairs are also essential for preserving the value of your home.

Our sister company PLAYA MOMENTS LLC will! Choosing the right Property Management company can mean the difference between an excellent appreciating investment and a huge liability. If you are a property owner in search of Property Management, we are happy to be able to refer you to the best, most professional Property Management Company and will gladly arrange a meeting with their teams.The right management company for you will take the time to construct a cohesive plan that will best serve your particular needs and help you to realize your property’s maximum potential and protect your investment. If you are looking for Professional Property Management Services for your home in Playa del Carmen or the Riviera Maya, please visit our Sister company playamoments.com page.

In an effort to provide the best possible buying experience for our customers, Playa Realtors recently expanded its services to offer furniture packages for Buyers who have purchased new and unfurnished villas or condominiums.The actual company provides furniture packages for clients who have purchased a new home in Mexico and want to avoid the pitfalls associated with purchasing and arranging for delivery of furniture while thousands of miles away. Our mission is to provide our clients with high-quality furnishings at a reasonable price and to eliminate the stress and uncertainty that naturally comes with making a significant purchase from afar.
We will also coordinate with the property management company of your choice to be sure that your new investment is completely outfitted and ready to welcome vacation renters.

The process of buying property in Canada and Quintana Roo, Mexico has several key differences:

1. Ownership Structures: In Canada, property ownership is typically straightforward, with direct ownership being the most common form. In Quintana Roo, Mexico, due to the Restricted Zone, foreign buyers acquire property through a Fideicomiso, a Mexican bank trust.
2. Financing: In Canada, buyers have access to a well-developed mortgage market, allowing them to finance a significant portion of their property purchase. In Quintana Roo, Mexico, financing options for foreign buyers may be more limited, and many transactions are cash-based.
3. Multiple Listing Service (MLS): Canada has a robust MLS system that provides comprehensive property listings accessible to buyers and real estate professionals. In Quintana Roo, Mexico, there is no centralized MLS, making it essential to work with PLAYA REALTORS as licensed advisor who can provide access to property listings through their professional network.
4. Legal Procedures: Legal procedures for property transactions differ between Canada and Mexico. In Canada, the process often involves a real estate lawyer who ensures all legal requirements are met. In Quintana Roo, Mexico, it is crucial to work with a licensed advisor and potentially seek legal advice to navigate Mexican real estate laws, review contracts, and ensure compliance.
5. Tax and Fee Structures: Tax and fee structures vary between Canada and Quintana Roo, Mexico. Property taxes, transfer taxes, and closing costs differ, and it is important to understand the specific obligations in each jurisdiction.
6. Title Insurance: In Canada, it is common to obtain title insurance to protect against potential title defects. In Quintana Roo, Mexico, title insurance is not as prevalent, but a Playa Realtors licensed advisor can assist in conducting thorough due diligence to ensure clear title and mitigate risks.

How can a licensed advisor in Quintana Roo assist buyers in navigating the differences? A licensed advisor in Quintana Roo plays a crucial role in helping buyers navigate the differences between buying property in Canada and Quintana Roo, Mexico. Playa Realtors provide valuable expertise and guidance throughout the process, including:

1. Understanding the Local Market: Playa Realtors has extensive knowledge of the local real estate market in Quintana Roo, Mexico, including property values, neighborhoods, and market trends.
2. Access to Property Listings: Without an MLS system, Playa Realtors can provide access to a wide range of property listings through their professional network, helping buyers find suitable properties based on their preferences and budget.
3. Legal Expertise: Playa Realtors can guide buyers through the legal procedures and requirements specific to Quintana Roo, Mexico. They work closely with legal professionals, review contracts, and ensure compliance with Mexican real estate laws.
4. Due Diligence: Playa Realtors assists buyers in conducting thorough due diligence on properties of interest, including title searches, property inspections, and assessment of potential risks.
5. Local Connections: Playa Realtors has established connections with local professionals, including real estate lawyers, notaries, and property management companies, facilitating a smooth transaction and post-purchase support.
   By working with PLAYA REALTORS in Quintana Roo, buyers can benefit from their expertise, local knowledge, and guidance, ensuring a successful and secure property purchase in Mexico.

The process of buying property in the United States and Quintana Roo, Mexico has several key differences:

1. Legal Systems: The United States operates under a common law legal system, while Mexico, including Quintana Roo, follows a civil law legal system. This results in different legal processes, documentation, and contract structures.
2. Ownership Structures: In the United States, property ownership is typically straightforward, with direct ownership being the most common form. In Quintana Roo, Mexico, foreign buyers acquire property through a Fideicomiso, a Mexican bank trust, due to the Restricted Zone regulations.
3. Notary Requirement: In Mexico, including Quintana Roo, a notary public plays a significant role in real estate transactions. Notaries have legal authority and responsibilities beyond those of a traditional notary in the United States. They oversee the transfer of property ownership, ensure the legality of the transaction, and authenticate documents.
4. Escrow Process: In the United States, an escrow company or attorney often handles the transfer of funds and documents during the closing process. In Quintana Roo, Mexico, a notary typically oversees the escrow process, holding and disbursing funds to ensure a secure and transparent transaction.
5. Closing Costs: Closing costs in the United States and Quintana Roo, Mexico, differ. While the United States generally has various fees associated with the closing process, Mexico often has a higher percentage-based transfer tax (known as the “impuesto sobre adquisición de inmuebles”) based on the property’s appraised value.
6. Title Insurance: In the United States, it is common for buyers to obtain title insurance to protect against potential title defects. In Quintana Roo, Mexico, title insurance is not as prevalent, but a licensed advisor can assist in conducting thorough due diligence to ensure clear title and mitigate risks.How does the notary requirement in Quintana Roo, Mexico, differ from the United States? In Quintana Roo, Mexico, a notary public is an integral part of the real estate transaction process. The notary oversees the transfer of property ownership, verifies the legality of the transaction, and ensures that all documents are properly executed. They play a crucial role in maintaining the security and transparency of the transaction.In the United States, while notaries are involved in certifying signatures on documents, their role in real estate transactions is generally less prominent compared to Mexican notaries. The United States relies more heavily on attorneys and title companies to handle the legal aspects of the transaction.How can a licensed advisor in Quintana Roo assist buyers in navigating the differences, including the notary requirement? PLAYA REALTORS in Quintana Roo provides invaluable assistance in navigating the differences between buying property in the United States and Quintana Roo, Mexico, including the notary requirement.We offer the following support:
   1. Notary Guidance: Playa Realtors can explain the role and responsibilities of a notary in Quintana Roo, Mexico, ensuring buyers understand the significance of notarization in the real estate process.
   2. Legal Expertise: With our knowledge of Mexican real estate laws and regulations, a licensed advisor can help buyers understand the legal requirements specific to Quintana Roo, including the notary’s role in executing and authenticating documents.
   3. Notary Recommendations: Playa Realtors can provide recommendations for reputable notaries in Quintana Roo, ensuring buyers work with professionals who are experienced in real estate transactions and can provide the necessary legal protections.
   4. Document Review: Playa Realtors can review and explain the legal documents associated

There are numerous factors to consider when you buy a beach house. Are you buying a beach house for rental income or are you simply buying a second home for investment and family enjoyment?

LOCATION

Best place to buy vacation home: If you’re purchasing a second home for pure enjoyment sake (not renting it out) then ideally, your beach house would be between one and five hours away by plane. Otherwise after the initial excitement wears off, you’ll find yourself vacationing there less and less. Obviously that’s not attainable for most of us but you will enjoy it more frequently if you’re that lucky!

If you’re buying a beach property for rental income, (and handing it over to a property management company,) you might be fine with it being a plane ride away. In this case you’ll care more about a prime location for steady rentals, than how easily you and family can get up there for weekends.

Personally, I rarely buy anything unless I think it’s a good investment. You just never know when you might need/want to sell.. If you care about buying a second home for investment, then here are some of the qualities to look for:

• Is it in a desirable area where people like to vacation?
• Are properties appreciating steadily?
• Is it easy to get to? What do you pass getting there?
• What’s around it? Visit your potential new home during the day and night.

SIZE

Do you dream of a little cottage by the sea? Or a big rambling house for the kids, grandkids, and friends? Or perhaps a cozy one bedroom condo is exactly what you have in mind.

The size of your beach house may depend more on what you can afford, but do start thinking about how you intend to use it, and what size you’d like.

From my experience, try to get at least a two-bedroom if you can. Anyone other than a couple will want at least that much space.

AND if you’re buying a beach property for rental purposes, get one with bunk beds stashed in a hallway. I can’t tell you how many times we rented the house/condo with the extra bunks over a rental without. I don’t like having guests on the “sleeper sofa”… I mean what if you want to get up and start breakfast while they’re sleeping? But with those handy bunk beds, you have extra sleeping spots.

COSTS

Now for the fun part how much can you afford? Or a better question might be, how much do you want to invest? You don’t want to max yourself out where you can’t even enjoy your new home.

Costs to consider are:

• Price of the home
• Down payment and monthly payments if you’re financing
• Management fees and vacancies if you’re buying a house for rental income
• Maintenance and upkeep
• Insurance
• Association fees
• Taxes
• Furnishing the house and patio(s)

We represent the most prestigious and innovative real estate developments and offer our clients prompt and exclusive access to the highest quality properties. These modern apartments and houses are not only designed for real estate investment, but also for acquiring a second home, a vacation residence or a retirement place in the Riviera Maya.

THESE ARE OUR GOALS:

• Understand your aspirations and create solutions that fit.
• Know the ever-changing market and how to keep our clients moving toward success, no matter the climate.
• Be a strategic advisor: lowering your real estate costs and occupancy risks while at the same time maximizing workplace flexibility and productivity

Cómo comprar una propiedad de playa adecuada para usted

Hay numerosos factores a considerar al comprar una casa de playa. ¿Está comprando una casa de playa para obtener ingresos por alquiler o simplemente está comprando una segunda casa para inversión y disfrute familiar?

LOCALIZACIÓN

El mejor lugar para comprar una casa de vacaciones: si va a comprar una segunda casa por puro placer (no por alquilarla), lo ideal sería que su casa en la playa estuviera entre una y cinco horas en avión. De lo contrario, después de que la emoción inicial desaparezca, se encontrará cada vez menos de vacaciones allí. Obviamente, eso no es posible para la mayoría de nosotros, pero lo disfrutará con más frecuencia si tiene más suerte.

Si está comprando una propiedad en la playa para obtener ingresos por alquiler (y entregándola a una empresa de administración de propiedades), es posible que esté de acuerdo con que esté a un viaje de avión. En este caso, le preocupará más una ubicación privilegiada para alquileres constantes que la facilidad con la que usted y su familia puedan llegar allí los fines de semana.

Personalmente, rara vez compro algo a menos que crea que es una buena inversión. Nunca se sabe cuándo podría necesitar / querer vender … Si le interesa comprar una segunda casa para invertir, estas son algunas de las cualidades que debe buscar:

• ¿Está en un área deseable donde a la gente le gusta vacacionar?
• ¿Las propiedades se están apreciando constantemente?
• ¿Es fácil llegar? ¿Qué pasas para llegar allí?
• ¿Qué hay a su alrededor? Visite su posible nuevo hogar durante el día y la noche.

 

TAMAÑO

 

¿Sueñas con una casita junto al mar? ¿O una gran casita para los niños, nietos y amigos? O quizás un acogedor condominio de una habitación es exactamente lo que tiene en mente.

El tamaño de su casa en la playa puede depender más de lo que pueda pagar, pero comience a pensar en cómo piensa usarla y qué tamaño le gustaría.

Según mi experiencia, trate de conseguir al menos un apartamento de dos habitaciones si puede. Cualquiera que no sea una pareja querrá al menos ese espacio.

Y si va a comprar una propiedad en la playa para alquilarla, obtenga una con literas escondidas en un pasillo. No puedo decirte cuántas veces alquilamos la casa / condominio con las literas adicionales en lugar de un alquiler sin las mismas. No me gusta tener invitados en el “sofá cama” … Quiero decir, ¿qué pasa si quieres levantarte y empezar a desayunar mientras ellos duermen? Pero con esas prácticas literas, tienes lugares adicionales para dormir.

 

COSTOS

 

Ahora la parte divertida ¿cuánto puede pagar? O una mejor pregunta podría ser, ¿cuánto quiere invertir? No quiere maximizarse donde ni siquiera puede disfrutar de su nuevo hogar.

Los costos a considerar son:

• Precio de la vivienda
• Pago inicial y pagos mensuales si está financiando
• Honorarios de administración y vacantes si está comprando una casa para obtener ingresos por alquiler
• Mantenimiento y conservación
• Seguro
• Cuotas de condominio
• Impuestos
• Amueblando la casa y el (los) patio (s)

Somos una empresa especializada en la venta de desarrollos inmobiliarios en Playa del Carmen, Tulum y la Riviera Maya.

Representamos a los desarrollos inmobiliarios con mayor prestigio e innovación y ofrecemos a nuestros clientes un pronto y exclusivo acceso a las propiedades de mayor calidad. Estos departamentos y casas modernas no solo están diseñadas para la inversión inmobliaria, sino también para adquirir una segunda casa, una residencia de vacaciones o un lugar de retiro en la Riviera Maya.

ESTOS SON NUESTROS OBJETIVOS:

• Comprender sus aspiraciones y crear soluciones que se ajusten.
• Conocer el mercado en constante cambio y cómo mantener a nuestros clientes avanzando hacia el éxito, sin importar el clima.
• Ser un asesor estratégico: reduciendo los costos inmobiliarios y los riesgos de ocupación y, al mismo tiempo, maximizar la flexibilidad y productividad en nuestro lugar de trabajo.

Lee HarrisonHere are a few things you should know about buying in Mexico… ways in which Mexico is different from what you might expect.

1. 1. Prime, Oceanfront Ejido Land… Why It’s Mexico’s Best Bargain
      Without the issue of ejido land (pronounced eh-HEE-doh) there wouldn’t be anything exciting to talk about when it comes to buying Mexican real estate.Ejido land is the source of almost all the stories you’ve heard about confiscation of property from foreigners in Mexico. Ejido land can be a terrific bargain, because after buying it, it’s not really yours.Ejido land is communal agricultural land, which was granted to a community… often an indigenous community. Much of this land, while not worth that much at the time, is now prime, sought-after beachfront property.In order to buy some of it, you would need the approval of 100% of the community members, separation of your parcel from the ejido, and conversion of that parcel to a freehold title. (And that’s over-simplified… simply identifying the community members and their descendants who should have a vote can be hard.)Converting ejido land to private ownership is a complicated and difficult process… which is why so many have ignored doing it legally, resorting instead to bribing officials, falsifying records, or just hoping no one will say anything down the road.

      There are, however, reputable legal firms in Mexico who specialize in converting ejido land into land that can be sold via a freehold title. If you feel you’ve got an irresistible opportunity to buy legally converted ejido land, I’d still personally recommend the following:

      • Verify that the property is recorded in the property registry as a freehold title before your purchase (don’t convert it concurrently with your purchase).
      • Have an independent, third-party attorney review the title’s history and assess the legality of the ejido land’s conversion to freehold title.
      • Purchase title insurance to guard against future legal claims, which may be valid or frivolous.

      Both I and my colleagues here at Live and Invest Overseas think it’s best to avoid ejido land altogether.

   2. No Restrictions On Foreign Ownership… AlmostGenerally speaking, there are no restrictions on the ownership of residential property in Mexico, and you can hold the title in your own name. You can choose to hold it in a trust—for asset protection or estate planning purposes—but it’s not required.If the property is near the coast or an international border however, special rules will apply. See the following paragraph.
   3. Special Rules Apply When Buying Near The Coast Or Land BorderMexico has a restricted zone—called the Zona Restringida—that occupies a band within 50 kilometers (31 miles) of the coast or 100 kilometers of an international land border. Since the early 20th century, non-citizens have not been able to hold property in their own name within this zone.But in order to encourage foreign investment, the government created a workaround in 1973, formalized in its current version in 1993. In short, it authorized the use of a trust to purchase property within the restricted-zone. This trust is called a fideicomiso (fee-dey-com-EES-oh) and it’s similar to a Land Trust in the United States.In U.S. trust parlance, you (the property buyer) are the Grantor of the trust, and also the Beneficiary… so you fully control the purchase, sale, and management of the property. A bank of your choosing acts as the Trustee.At first, I resisted the idea of having to use a fideicomiso. I actually toyed with the idea of creating a corporation—with all its overhead and reporting requirements—just to get around it. But that was counterproductive.

      Instead, I decided to appreciate the benefits of having my property in a trust. It gives me a level of asset protection, and more importantly, allows me to do estate planning—using beneficiaries and contingent beneficiaries—without having to probate a Mexican will or follow normal probate protocols.

      Fideicomisos must be renewed after 50 years.

   4. The Notary: Not Like The States… Not Like France… Not Like Ecuador…The role of the notary in Mexico is different from their role in most of Latin America, Europe, or the United States. The notary is appointed by the state governor and must be an attorney with at least five years of experience.As a buyer in Mexico, the notary is your representative in the process. He is not an impartial third party, and does not represent the seller. Consequently, there is usually no reason hire a second attorney to represent you in a straightforward property sale. The role of notaries in Mexico are most like the roles of escribanos in Uruguay and Argentina.You may, however, need an additional attorney for a non-standard sale. For example, if you’re forming a corporation or starting a business concurrently with the purchase.The notary will perform a title search, prepare all the paperwork, process the real estate transaction, record the new title with the municipality, and collect the taxes and fees.

      Be sure to hire a notary who is fluent in English, unless you’re a fluent Spanish-speaker. He will serve as your translator, and explain what all those Spanish-language documents are saying.

      Don’t have your real estate agent serve as your only translator at the notary office.
      And don’t use a notary who does not speak your language.

   5. Great! An English Sales Contract (Which May Not Be Valid)The official language in Mexico is Spanish, and all official documents are in Spanish… including your sales contract and closing documents.But for simplicity’s sake, most good realtors will give you an English version of the sales agreement. This is a great tool for making sure that you and the seller understand the terms of the deal, such as sales price, included items, or any special conditions or contingencies.Keep in mind however, that when there’s a conflict between the English version and the Spanish documents that you signed, the Spanish (official) version will govern.Make sure that any changes made by you and the seller on the English version make it through to the Spanish version at the end of negotiations. At your discretion, you can have some of the official documents translated by a third party.

      Keep in mind that most of the processes described here will be done by the notary, working with your agent. All you really need to do yourself is sign the documents and write a check for the fees.

      Your experience buying property in Mexico will most likely be a good one. There are hundreds of excellent realty companies, and more genuinely-certified REALTOR® agents than I’ve seen anywhere in Latin America.

      But there are also some fly-by-night operators and crooks. Most often, it’s a “guy who knows a guy” with a place for sale, or a tour operator, taxi driver, or rental agent who can’t resist the idea of a commission.

      • Make sure you buy from a reputable real estate company, who employs real agents, and follows the rules.
      • When in doubt, don’t hesitate to call a time-out and ask questions until you’re satisfied.
      • Don’t be afraid to clarify Spanish conversations you’re hearing, or terms that are new to you.

In the end, the enjoyment you’ll get from your new property in Mexico will be worth the effort.

Just contact me….

 

Buying Real Estate and Owning Property in Playa del Carmen & Mexico

 

Can foreigners really own property in Mexico?

Yes! Today, Mexican laws give foreigners the ability to own real estate in Mexico. There is, however, a Restricted Zone that extends 50 km inland from the coastline.Outside the Restricted Zone, a foreigner may purchase land and be direct owners of the property with all the rights of a Mexican national in compliance with Mexican Law. Inside the Restricted Zone, there are two alternatives for foreigners who wish to buy real estate. Since 1973, foreigners have been able to purchase coastal property through a Mexican bank trust, known as a Fideicomiso.

A Fideicomiso is established by the government and gives foreigners the same rights of ownership as Mexican citizens. The only difference is that they never receive the actual fee simple title. A bank holds it in trust for them. The Trust system of ownership is sanctioned by the Mexican government, provided for under the Mexican Constitution, and secured by the Central Bank of Mexico, all exclusively for the purpose and protection of enabling foreign ownership of coastal property in Mexico.

Alternatively, you may own property by establishing a Mexican corporation. The corporation is the direct owner of the property and enjoys the right to conduct business in Mexico. (Consult your agent and attorney to find out which form is best in your case).

What is a Fideicomiso?

A fideicomiso is a real esate trust held on your behalf by a Mexican bank of your choosing (Scotiabank, HSBC, Banamex (Citigroup), Santander etc.). The bank acts a s the Trustee, and you and those you designate are the Beneficiaries of the trust. As the beneficiary of the trust, you maintain complete control over it, retaining the use of the property and making all investment decisions. This is not a lease, it is equivalent to a Living Trust in the US. A fideicomiso bestows upon the Beneficiary of the Trust (you) absolute and irrevocable control over the property: to enjoy, lease, improve, mortgage, sell, inherit and will.

Simply stated, your property is placed in a trust that you own to be administered by a Mexican bank of your behalf.

Why is a Fideicomiso necessary?
The purpose of the fideicomiso is to allow foreigners to buy prime Mexico real estate inside the “restricted zone”, and ensure a safe and secure transaction. The restricted zone is any land within 31 miles (50 km) of the coastline and 62 miles (100 km) of the borders. The Mexican Constitution, when created, was designed to protect their land and prevent the kind of massive land loss they had endured through their history. Rather than amend their constitution, Mexico created and added the fideicomiso to encourage foreign investment in the highly desirable areas, particularly along the coastline.

Residential properties outside of the restricted zone can be acquired directly by foreigners without the need for a bank trust, althought some buyers opt to use it.

Is the Fideicomiso an asset of the bank?
No. Your trust is not an asset of the bank; they are merely the stewards of the trust. You and those your designate are the beneficiaries. The trust to your Mexico real estate property is held by the bank for the beneficiary (you) and is not considered an asset of the bank therefore not exposed to any legal action that the bank might find itsel in. The trust is the beneficiary’s property.

Can I get financing for my real estate purchase in Mexico?

Yes, for sure. We have special companies who borrow money to American and Canadian citizens.

Can you recommend a good English-speaking attorney?

Over the years, we have orchestrated the sales of hundreds pieces of Mexico real estate, representing both Buyers and Sellers as well as developing properties of our own. In that time, we have carefully created a team of trusted attorneys who we recommend to our clients. Each has been chosen for their honesty, integrity, their tenacity and their knowledge of the intricacies of the real estate transaction for foreigners investing Mexico. Our customers have full access to all of their services.

We will arrange a meeting early on to insure that you are comfortable with the process and fully understand all of the documentation you are presented with. Just as each Playa Realtors4U agent adheres to a strict Code of Ethics, our attorneys also have a fiduciary responsibility to you the client. This is a responsibility we take very seriously to minimize any risk and protect you at all times. We usually work with MexLaw, they are super professional and expedite.

What about the availability of title insurance?

Beginning in 1996, Stewart Title Mexico began underwriting title insurance for Mexican properties at an approximate cost of 1% of the insured amount. Other types of insurance, including property, liability, damage, and earthquake, are all readily available in Mexico, at low cost, and policies can be written to pay claims in U.S. dollars. MexLaw also provide this service.

What can I expect to pay in property taxes?

Property taxes have historically been low in Mexico because they have never been considered a source of governmental revenue. Known as Predial, the tax is calculated as a percentage (currently .25% of the assessed value), determined at the time of sale. Generally speaking, you can expect to pay $100 usd per $100,000 usd of assessed value yearly.

How will I furnish my new condo or villa in Mexico?
In an effort to provide the best possible buying experience for our customers, Playa Realtors4U recently expanded its services to provide furniture packages for Buyers who have purchased new and unfurnished villas or condominiums.

This company, Actual, provides furniture packages for clients who have purchased a new home in Mexico and want to avoid the pitfalls associated with purchasing and arranging for delivery of furniture while thousands of miles away. Our mission is to provide our clients with high quality furnishings at a reasonable price and to eliminate the stress and uncertainty that naturally comes with making a significant purchase from afar.

We will also work in coordination with the property management company of your choice to be sure that your new investment is completely outfitted and ready to welcome vacation renters.

Who will manage my property when I am not using it?

Our sister company PLAYA MOMENTS will! Choosing the right Property Management company can mean the difference between an excellent appreciating investment and a huge liability. If you are a property owner in search of Property Management, we are happy to be able to refer you to the best, most professional Property Management Company and will gladly arrange a meeting with their teams.

The right management company for you will take the time to a construct a cohesive plan that will best serve your particular needs and help you to realize your property’s maximum potential and protect your investment. If you looking for Professional Property Management Services for your home in Playa del Carmen or the Riviera Maya, please visit our Sister company www.playamoments.com page.

Why should I consider buying property in Mexico?

The coastal real estate market in Mexico is booming. Mexico’s economy, the 9th largest in the world, values and encourages foreign investment dollars and especially tourism; Mexico is a top world-destination for both vacation and retirement among US and Canadian citizens.

​Can the Government take my Property?

The answer is NO. Foreigners often worry about their land being expropriated by the Mexican government. Under the North American Free Trade Agreement, NAFTA, Mexico may not directly or indirectly, expropriate property except for a public purpose (i.e. building roads). And only through a legal condemnation proceeding will this be possible. In the rare case where it is necessary to expropriate land, the government will pay swift and fair market compensation to the owner, together with accrued interest. This is the same process known as Eminent Domain in the USA, Compulsory Purchase in the UK or Expropriation in Canada.

Insider Tip: If you have ever heard one of those stories about someone getting their property taken by the Mexican government, it is because the unfortunate person bought Ejido land, which is untitled land that only a Mexican national can legally own. Ejido land is the only land in Mexico that is without title.

What are the Types of Mexican Corporations?

There are several different types of Mexican corporations, however the two most common are a limited liability corporation (LLC) and a limited liability partnership (LLP). Choosing which type of corporation to set up is important for tax purposes in both the US and Mexico, and you should speak with an attorney or accountant on both sides of the border to understand the benefits and costs each one entails. Making sure the choice is made correctly from the beginning will save you time and money.

Mexico Real Estate has a lot to offer in terms of great weather, beautiful scenery, and authentic Latin American culture. Mexico Real Estate has a lot to offer in terms of great weather, beautiful scenery, and authentic Latin American culture; plus, you will find lots of affordable real estate in Mexico. It is perfectly legal for foreigners to own Mexican real estate.

The time is right for Mexico….

It is the United States’ closest neighbor to the south, and at no other time in the long history of that relationship have the benefits of living and investing in Mexico been more apparent…and easier to take advantage of. Not just for U.S. citizens, but for Canadians, Europeans, South Americans…anyone looking for great weather, low prices, rich culture, and potential profits.

Mexico is also one of International Living’s top retirement destinations. The annual Global Retirement Index looks at the best opportunities worldwide for retirement living. Mexico is regularly in the top 10.

Mexico has it all…rich culture, perfect climate…affordable living…not to mention mountains, beaches, deserts, and just about everything in between.

Whether you dream of a colonial home with graceful arches, thick walls, and a garden overflowing with pink bougainvillea; a lazy beachfront retreat where you can sit on your front porch with your feet propped up and watch the Caribbean roll up on the sand; or a dramatic Pacific coast lookout where the waters crash against the cliffs below and you can watch the sun set behind a watery horizon—you can find your dream home in RIVIERA MAYA, Mexico.

Incluso viviendo en Estados Unidos?

Este articulo es para tí.

Tenemos acceso a fuentes de financiamiento para comprar la propiedad de tus sueños en la Riviera Maya. Contactanos hoy para más información.

Mexicanos Compran la Mitad del Total de Bienes Raíces en la Riviera Mayaúd d yyyy de j

Escrito por Richard Houghton

Para Atestos momentos, no debería ser una sorpresa el gran dejajj yque vive el mercado de bienes raíces dejjjdd la Riviera Maya, con una oferta en residencias vacacionales y segundos hogares que es rebasada por la demanda. Playa del Carmen y Tulum constituyen tres grandes mecas para expatriados de todo el mundo, que vienen a vivir a estos idílicos destinos vacacionales de tiempo completo o parcial.

Pero no solo los extranjeros se han volcado a disfrutar de todos los atractivos naturales, culturales, gastronómicos y de entretenimiento de esta mágica región, los mexicanos también están mostrando un incremento en sus preferencias por disfrutar de todo lo que la Riviera Maya tiene que ofrecer.

De acuerdo con cifras de la Asociación de Desarrolladores Inmobiliarios de la Riviera Maya (ADIRM), del total de seis mil propiedades que actualmente se encuentran en comercialización en la Riviera Maya, tres mil de ellas serán adquiridas por el mercado mexicano, que las considera una segunda residencia. De este total, 5 mil 500 unidades están localizadas en Tulum, y el resto en Playa del Carmen.

“En el caso del segmento de segundas viviendas, que es donde nos concentramos nosotros como asociación, lo que vemos es que el consumo nacional sigue siendo fuerte a pesar de una cierta desaceleración que ha habido este año, y tenemos información por cómo estamos viendo la comercialización del 50 por ciento de las propiedades, lo que nos habla de estabilidad económica”, manifestó Sergio Carlos de la torre, presidente de la asociación.

Atractivos de la Riviera Maya para Invertir en Bienes Raíces

La Riviera Maya es una mágica región de México, ya que representa la única costa frente al Mar Caribe Mexicano, y se caracteriza por tener algunas de las mejores playas del mundo, con hermosa y suave arena aperlada y cristalinas aguas color turquesa. Un clima cálido y el milenario legado cultural de la civilización maya, así como la exuberante selva tropical y refrescantes cenotes de agua dulce se agregan a sus atractivos naturales, para definir y caracterizar a algunos de los más importantes destinos vacacionales del mundo, como Playa del Carmen y Tulum.

Además, las actividades en la Riviera Maya ofrecen un sinfín de posibilidades para los turistas, que año con año regresan para descubrir nuevos y emocionantes atractivos.

Todo esto ha elevado la demanda en el mercado de bienes raíces de Playa del Carmen y Tulum por propiedades de inversión que funcionen tanto como residencias vacacionales personales, como propiedades de renta que puedan generar un atractivo retorno de inversión.

Cientos de extranjeros y mexicanos están optando por invertir en desarrollos residenciales tipo turnkey, que ofrecen propiedades de lujo completamente amuebladas y equipadas para ser utilizadas desde el momento de la adquisición.

A menudo, este tipo de bienes raíces también incorporan un programa de rentas vacacionales “Propiedad Sin Preocupaciones, Sin Molestias”, que asigna a un equipo profesional al cuidado de la unidad, encargándose de todas sus necesidades, desde el mantenimiento y el pago de servicios, hasta las reservaciones de huéspedes y su promoción en línea para mantenerla rentada el mayor tiempo posible, y de esta manera maximizar el retorno de inversión.

La ADIRM también explica que la otra mitad del mercado de bienes raíces la conforman inversionistas de Estados Unidos y Canadá, además de un creciente número de compradores de distintos países de Latinoamérica, como Colombia, Brasil y Argentina. De esta forma, se confirma la amplia demanda que tienen las propiedades de inversión en la Riviera Maya, cuyas unidades a menudo se agotan durante la fase de preventa, que ofrecen atractivos precios, descuentos y ofertas, ya que una vez que el desarrollo culmina su construcción, el valor de los inmuebles suele dispararse. Por todo esto, el mejor momento para diversificar tu portafolio de inversión e invertir en bienes raíces de la Riviera Maya mientras los precios continúan siendo asequibles es hoy.

¿Tienes alguna pregunta sobre invertir en bienes raíces de la Riviera Maya?

MANEJAMOS CRÉDITOS ESPECIALES PARA MEXICANOS INCLUSO VIVIENDO EN EL EXTERIOR.

Contactanos.

Nicolas Manetta-“Those who don’t think outside the box are easily contained.”“We have reached a tipping point,” real estate market experts are saying. They point out that more homes are being listed for sale, and the prices are still rising, but not at the double-digit frenzy we have seen over the last year.

Homebuyers are stepping back into action and making offers on homes now that there may be only five competing offers on the house they want instead of twenty-five offers.

Buying a Second Home

How to buy a beach house the right way

Whether you’re thinking about buying a second home for pleasure, or simply buying a second home to rent as an investment, you’ve come to the right place.

Who hasn’t dreamed of owning their very own beach house? I can remember as a teenager, going to Cancun and looking up at the houses overlooking the ocean, and thinking: “I’ll own a house like that someday.”

The idea of breathing in salt laden air while gazing out over the ocean from my own beach house porch, was intoxicating to me, even as a kid.

If you’re at a place in your life where that possibility is open to you, this is where you’ll get clarity on how to buy second home the right way.

Are you buying second home or an investment home?

Let’s determine the difference between a vacation home to buy versus purchasing an investment home (or vacation rental property.)

Deciding ahead of time how you want to use your new beach house will help you in two ways:

• It’ll be easier to decide where you want your house located, and what details are important.
• You’ll know what kind of loan you’ll need to qualify for. (Assuming you’re financing.) Financing a second home has different loan requirements than an investment home mortgage.People refer to vacation homes in a variety of ways: second home, short term or long term rental, income property, but the truth is, all these terms are not necessarily interchangeable from a credit perspective. Lenders strictly distinguish between second home mortgage requirements and getting an investment home mortgage. The two have very have different qualifying requirements if you apply for financing. So let’s look at difference between investment property versus second home.

The key determining factor that differentiates the two is this:

Is this a beach house exclusively for your family’s enjoyment (= second home) or do you plan on renting it out for income (= investment home)?

Four common ways to purchase either a second home or investment property are:

1. Available cash
2. Utilizing a cash-out refinance on your primary residence
3. Taking out a second mortgage (HELOC or fixed home equity loan) on your current home
4. Secure the first mortgage using subject property itself as collateral.Keep in mind, that with options #2 and #3 you’ll tie up equity in your primary home.It’s also important to note that unlike mortgage transactions where real estate is intended to be occupied as a primary residence, investment property purchases are not an eligible transaction that allows the use of gift funds (personal gifts or gifts of equity) towards borrowers’ down payment or closing costs. When you buy a second home, the transactions allow the use of gift funds, but with certain limitations.For either property type, the purchase process is basically the same as if you purchase a standard home, although the qualification requirements are a bit different.

PLAYA REALTORS: YOUR TRUSTED SOURCE FOR RIVIERA MAYA (FROM MAHAHUAL TO CANCUN, INCLUDING PUERTO AVENTURAS, AKUMAL, TULUM, XPU-HA, PUERTO MORELOS & PLAYA DEL CARMEN REAL ESTATE)

We are real estate agents with the knowledge & expertise to best assist you with buying a condo or home in Playa del Carmen & the Riviera Maya

Led by Argentinian / Mexican Broker Karina Sayed, as one of the top real estate agencies in Playa del Carmen we have been helping clients make their real estate dreams comes true for over 18 years.

Diseñe la vida que desea: formas de pensar estrategicamente para su hogar y financiamiento.

MUJERES INMOBILIARIAS

ESCRITO POR JO GARNER

Nicolas Manetta- “Aquellos que no piensan fuera de la caja son fáciles de contener”.

“Hemos llegado a un punto de inflexión”, dicen los expertos del mercado inmobiliario. Señalan que se están poniendo a la venta más viviendas y los precios siguen subiendo, pero no al frenesí de dos dígitos que hemos visto durante el último año.

Comprar una segunda casa

Cómo comprar una casa en la playa de la manera correcta

Ya sea que esté pensando en comprar una segunda casa por placer o simplemente comprar una segunda casa para alquilar como inversión, ha venido al lugar correcto.

¿Quién no ha soñado con tener su propia casa en la playa? Recuerdo que cuando era adolescente, iba a Cancún y miraba las casas con vista al océano y pensaba: “Algún día seré dueño de una casa así”.

La idea de respirar aire cargado de sal mientras contemplaba el océano desde el porche de mi propia casa en la playa me embriagaba, incluso cuando era niño.

Si se encuentra en un lugar de su vida donde esa posibilidad está abierta para usted, aquí es donde obtendrá claridad sobre cómo comprar una segunda casa de la manera correcta.

Está comprando una segunda vivienda o una vivienda de inversión?

Determinemos la diferencia entre comprar una casa de vacaciones y comprar una casa de inversión (o una propiedad de alquiler vacacional).

Decidir de antemano cómo quieres usar tu nueva casa de playa te ayudará de dos maneras:

Será más fácil decidir dónde quiere que se ubique su casa y qué detalles son importantes.
Sabrá para qué tipo de préstamo deberá calificar. (Suponiendo que está financiando). Financiar una segunda vivienda tiene requisitos de préstamo diferentes a los de una hipoteca de vivienda de inversión.

La gente se refiere a las casas de vacaciones de diversas formas: segunda residencia, alquiler a corto o largo plazo, propiedad de ingresos, pero la verdad es que todos estos términos no son necesariamente intercambiables desde una perspectiva crediticia. Los prestamistas distinguen estrictamente entre los requisitos de una hipoteca para una segunda vivienda y la obtención de una hipoteca para una vivienda de inversión. Los dos tienen requisitos de calificación muy diferentes si solicita financiamiento. Así que veamos la diferencia entre una propiedad de inversión y una segunda vivienda.

El factor determinante clave que diferencia a los dos es este:

¿Es esta una casa de playa exclusivamente para el disfrute de su familia (= segunda casa) o planea alquilarla para obtener ingresos (= casa de inversión)?

Cuatro formas comunes de comprar una segunda vivienda o una propiedad de inversión son:

1. Dinero en efectivo disponible
2. Utilizar un refinanciamiento con retiro de efectivo en su residencia principal
3. Obtener una segunda hipoteca (HELOC o préstamo con garantía hipotecaria fija) sobre su vivienda actual
4. Asegure la primera hipoteca utilizando la propiedad en cuestión como garantía.Tenga en cuenta que con las opciones n. ° 2 y n. ° 3, inmovilizará el valor líquido de su vivienda principal.

También es importante tener en cuenta que, a diferencia de las transacciones hipotecarias en las que se pretende que los bienes raíces sean ocupados como residencia principal, las compras de propiedades de inversión no son una transacción elegible que permita el uso de fondos de obsequio (obsequios personales o obsequios de capital) para el pago inicial de los prestatarios. o costos de cierre. Cuando compra una segunda vivienda, las transacciones permiten el uso de fondos de regalo, pero con ciertas limitaciones.

Para cualquier tipo de propiedad, el proceso de compra es básicamente el mismo que si compra una casa estándar, aunque los requisitos de calificación son un poco diferentes.

PLAYA REALTORS: SU FUENTE DE CONFIANZA EN BIENES RAICES EN RIVIERA MAYA (DESDE MAHAHUAL HASTA CANCUN, INCLUYENDO PUERTO AVENTURAS, AKUMAL, TULUM, XPU-HA, PUERTO MORELOS & PLAYA DEL CARMEN)

Somos agentes de bienes raíces con el conocimiento y la experiencia para ayudarlo de la mejor forma en la compra de un condominio o una casa en Playa del Carmen y toda la Riviera Maya.

Dirigido por la agente de bienes raices argentina / mexicana Karina Sayed, como una de las principales agencias de bienes raíces en Playa del Carmen, hemos estado ayudando a los clientes a hacer realidad sus sueños inmobiliarios durante más de 18 años.

THIS ARTICLE IS SPECIALLY FOR YOU.

RRSP ACCESS PROGRAM

The program allows Canadians to use the funds in their RRSP to finance their Vacation Membership. Our unique program is modeled after the hugely succesful Home Buyers Plan (HBP), allowing our clients to utilize the funds inside thier RRSP.

A Registered Retirement Savings Plan (RRSP) is a retirement savings and investing vehicle for employees and the self-employed in Canada. Pre-tax money is placed into an RRSP and grows tax-free until withdrawal, at which time it is taxed at the marginal rate.

Qualified Canadians simply transfer their existing RRSP to a new qualified RRSP on a tax-free basis, for the purpose of investing in a Canadian Mutual Fund Trust which is a qualified investment for RRSP’s. The business of the Mutual Fund is to provide consumer loans to creditworthy Canadian borrowers to finance the purchase of Vacation Products.

VACATION HOME BUYERS PLAN

Qualified Canadians simply transfer their existing RRSP to a new qualified RRSP on a tax-free basis, for the purpose of investing in a Canadian Mutual Fund Trust which is a qualified investment for RRSP’s. The business of the Mutual Fund is to provide consumer loans to creditworthy Canadian borrowers to finance down payments for Vacation Homes.

Seaport credit has developed strong working relationships with developers and real estate brokerages throughout Mexico and the Caribbean.

Inspired by the hugely successful Home Buyers Plan (HBP), which assisted many Canadians in proudly achieving the goal of home ownership . Seaport Credit provides the link between you and your under utilized RRSP funds to assist you with the purchasing of your vacation dream home in the sun.

In this spirit, we have endeavored to create a unique product that likewise assists Canadians in acquiring that home in paradise they always dreamed of.

CONTACT US FOR INFORMATION ABOUT THIS PROGRAMM AND HELP YOU TO BUY YOUR DREAM PROPERTY IN RIVIERA MAYA.

MEXICO ENTERS THE TOP 10 AS A RECIPIENT OF FOREIGN DIRECT INVESTMENT

Written by Martín G.F.

MEXICO MANAGED TO CLIMB POSITIONS IN THE WORLD RANKING, GOING FROM 14TH IN 2019 TO 9TH IN 2020, ACCORDING TO UNCTAD.

Mexico was the ninth country in the world that received the highest amount of foreign investment during 2020, which represented an improvement compared to the fourteenth place that was obtained in the 2019 ranking, revealed a report from the United Nations Conference on Trade and Development ( UNCTAD).

This result is relevant since, due to the Covid-19 pandemic, Foreign Direct Investment (FDI) flows were reduced by 35 percent worldwide, going from 1.5 to 1 trillion dollars.

Despite the improvement that was presented in the general ranking, the country was not immune to the adversities generated by the pandemic, since the foreign flows that Mexico received were 14.7 percent lower than those observed in 2019, since during that year the country raised 34 billion dollars, while a year later, the figure rose to 29 billion dollars.

For Jesuswaldo Martínez, economic researcher at the Belisario Domínguez Institute, Mexico’s entry into the Top 10 was due more to the fact that other countries suffered significant drops in their receipt of FDI, the United Nations (UN) is that Mexico knew better contain the situation than other countries, “he said.

He explained that there were economies that registered significant falls in the reception of FDI, “foreign investment in Brazil fell about 60 percent, in the United States it decreased by 40 percent and in China, the fall was 5 percent,” he said.

They reinvest

On the other hand, Jorge Molina Larrondo, specialist in public policies and international trade at Tec de Monterrey, explained that reading the UNCTAD report should be taken with caution, since only 22 percent of foreign investments registered with the Secretariat of Economy were classified as new investments, while 55.4 percent were reinvestment of profits and another 22.6 percent were accounts between companies.

“During the pandemic, the federal government did not support the private sector, so foreign companies operating in Mexico faced scarce and expensive credits, and since their sales were very restricted and scarce, they found the only alternative to resort to funds from its own portfolio and its parent company abroad, “he said.

In this way, the foreign investments that Mexico received during the pandemic year were used to maintain the operations of the companies that were already installed in the country, but there was no announcement of new large projects, added Larrondo.

However, as a point in favor, the specialist added that the Treaty between Mexico, the United States and Canada (T-MEC) granted legal certainty and certainty, which created an environment of tranquility for companies to continue trusting in the country.

Recovery at the door

Luis Güemez, professor at the CETYS Graduate School of Business, pointed out that Mexico was attractive for receiving FDI in 2020, which will be a good sign for the future, and recalled that the Organization for Economic Cooperation and Development (OECD) placed Mexico within the Top Ten of nations that received the highest FDI during 2020.

“Although, the Covid-19 pandemic has caused various negative effects on the global economy, decrease, high inflation rates and even deflation, being part of this Top Ten is an incentive for the economic recovery of the country, but a favorable ecosystem for investment and the rule of law ”, indicated Güemez.

He added that Mexico’s entry into the Top Ten was due to the economic crisis in a globalized system and large-scale financial estimates.

The countries that surpassed Mexico were the United States (156 billion dollars), China (149), Hong Kong (119), Singapore (91), India (64), Luxembourg (62), Germany (36) and Ireland ( 33).

FDI trends in 2020 varied significantly by region. Developing regions and economies in transition were relatively more affected by the impact of the pandemic on investment in resource-based and GV-intensive activities.

The asymmetries in the fiscal space for the deployment of economic support measures also generated regional differences.

FDI flows to Europe fell by 80 percent, while those to North America fell less sharply (40 percent).

The decline in FDI flows in developing regions was uneven, with 45 percent in Latin America and the Caribbean and 16 percent in Africa.

By contrast, flows to Asia increased by 4 percent, with East Asia being the main recipient region, accounting for half of global FDI in 2020.

UNCTAD estimated that this year could be a more encouraging outlook, as foreign flows worldwide could rise between 10 and 15 percent. This would still leave FDI 25 percent below the 2019 level.

“The outlook is very uncertain and will depend, among other factors, on the pace of economic recovery and the possibility of pandemic relapses, the potential impact of recovery spending packages on FDI and political pressures,” said the UN agency.

Source: El Financiero

THIS ARTICLE IS SPECIALLY FOR YOU.

Quick Facts About Investing in Mexican Real Estate Through an IRA, by MexLaw

Did you know you can increase returns on your pension savings by purchasing Mexican real estate through a self-directed IRA? The majority of us invest our pension automatically and do not pay attention to the rate of return that the plan is generating. With this alternative investment, you can take control of your retirement. U.S. citizens can increase returns on their investments by making the right choices and reduce fees and administrative costs payable to brokers and advisors.

The IRS allows foreign real estate as an alternative investment; provided you follow the rules set out by the IRS, it is essential that you are aware of these regulations before you make your acquisition.

When buying property through your retirement plan, remember that its only purpose is to generate income or realize a capital gain for your retirement — investing in a future retirement home by buying property at today’s price, meanwhile preparing for a better quality of life during your retirement.

The rules and regulations are complicated, but MexLaw has the experience and the competence to assist you through the entire process, beginning in the U.S. to closing in Mexico, including ongoing accounting services.

Investment property purchased through an IRA is not meant to be enjoyed right now, investors cannot utilize the property as their residence or as a vacation home, nor can it be rented out to a disqualified person which includes the account holder, their spouse, ascendants or descendants. The law does not explicitly include brothers and sisters as disqualified individuals. Disqualified persons also include individuals that provide services to the IRA such as your custodian, your attorney, CPA, and financial advisor.

IRS rules state that you cannot directly benefit from an asset owned by your IRA. It is strictly prohibited for you to engage in transactions that, directly or indirectly, will benefit you. You can rent the property out to an unrelated party, the rental income is tax-deferred inside your IRA, and then you may claim the home as your own when you take your final IRA distribution. Your IRA can sell the property at any time. You cannot lend yourself money from your IRA nor can you pay yourself a salary or fees for managing the property. In this case, a property management company would care for your property, providing you with a worry-free investment.

You may consider investing in large developments utilizing other investors’ IRA as well; another option is to have friends and family invest in your Mexican LLC as shareholders.

If you participate in a prohibited transaction as described above, your IRA will be de-registered, and it will be treated as though the property was distributed and you will have to pay the tax on that distribution. If the IRS considers this a distribution, it can also impose a tax equal to 100% of the amount involved.

Learn how to increase your returns, protect your investment, and proceed with this type of investment without causing a tax event by discussing the process with us @playarealtors

Q: What is a contingency in an offer to purchase?

A: contingency is a provision in a sales contract stating that certain events must occur or conditions must be met before the contract is valid. Common contingencies include Financing Commitment, Home Inspection, Appraisal, and Radon. Your agent will explain the pros and cons of each contingency in the offer to purchase.

Q: What is the difference between being pre-qualified and pre-approved for a loan?

A: If you are pre-qualified, you MAY be able to get a loan for a certain amount assuming that all of the information you provided to your loan officer is accurate and true.
If you are pre-approved it means you have undergone a rigorous extensive financial background check which includes looking at your entire credit history, previous tax returns, and verifying your employment.

Q: How long does the loan process take?

A: The number of days from the time you apply for your loan to closing is most typically around 45 days. Some lenders are quicker and some are slower. Variables such as loan type and property type can impact your contract to close time. Before your agent drafts an offer, they will discuss with your lender the amount of time needed to close on your contract.

Q: Can foreigners really own property in Mexico?

A: Yes! Today, Mexican laws allow foreigners to own real estate in Mexico. However, there is a Restricted Zone extending 50 km inland from the coastline. Outside the Restricted Zone, a foreigner may purchase land and be the direct owner of the property with all the rights of a Mexican national in compliance with Mexican Law. Inside the Restricted Zone, there are two alternatives for foreigners who wish to buy real estate. Since 1973, foreigners have been able to purchase coastal property through a Mexican bank trust, a Fideicomiso.

A Fideicomiso is established by the government and gives foreigners the same rights of ownership as Mexican citizens. The only difference is that they never receive the actual fee simple title. A bank holds it in trust for them. The Trust system of ownership is sanctioned by the Mexican government, provided for under the Mexican Constitution, and secured by the Central Bank of Mexico, all exclusively for the purpose and protection of enabling foreign ownership of coastal property in Mexico.
Alternatively, you may own property by establishing a Mexican corporation. The corporation is the direct owner of the property and enjoys the right to conduct business in Mexico. (Consult your agent and attorney to find out which form is best in your case).

Q: What is a Fideicomiso?

A: A fideicomiso is a real estate trust held on your behalf by a Mexican bank of your choosing (Scotiabank, HSBC, Banamex (Citigroup), Santander, etc.). The bank acts as the Trustee, and you and those you designate are the Beneficiaries of the trust. As the beneficiary of the trust, you maintain complete control over it, retaining the use of the property and making all investment decisions. This is not a lease, it is equivalent to a Living Trust in the US. A fideicomiso bestows upon the Beneficiary of the Trust (you) absolute and irrevocable control over the property: to enjoy, lease, improve, mortgage, sell, inherit, and will. As stated, your property is placed in a trust you own to be administered by a Mexican bank on your behalf.

Q: Why is a Fideicomiso necessary?

A: The purpose of the fideicomiso is to allow foreigners to buy prime Mexico real estate inside the “restricted zone”, and ensure a safe and secure transacation. The restricted zone is any land within 31 miles (50 km) of the coastline and 62 miles (100 km) of the borders. When created, the Mexican Constitution was designed to protect their land and prevent the massive land loss they had endured throughout their history. Rather than amend its constitution, Mexico created and added the fideicomiso to encourage foreign investment in highly desirable areas, particularly along the coastline. Residential properties outside of the restricted zone can be acquired directly by foreigners without needing a bank trust, although some buyers opt to use it.

Q: Is the Fideicomiso an asset of the bank?

A: No. Your trust is not an asset of the bank; they are merely the stewards of the trust. You and those your designate are the beneficiaries. The trust to your Mexico real estate property is held by the bank for the beneficiary (you) and is not considered an asset of the bank therefore not exposed to any legal action that the bank might find itself in. The trust is the beneficiary’s property.

Q: Can I get financing for my real estate purchase in Mexico?

A: YES, of course!!

Do not hesitate to contact us immediately, WE ARE EXPERTS IN THIS AREA.

You can be prequalified digitally.

Digital Prequalification:

Once the information is reviewed, you will be provided with an estimate of the loan amount, interest rates, monthly payments, etc. This takes us approximately 1 business day.

What documentation is required?

In most cases, you will need to provide:
Passport, driver´s license, birth certificate, or utility bill.
Paystubs.
Tax returns.
Bank statements.
Asset statements.

Q: Can you recommend a good English-speaking attorney?

A: Over the years, we have orchestrated the sales of hundreds of pieces of Mexico real estate, representing both Buyers and Sellers as well as developing properties of our own. In that time, we have carefully created a team of trusted attorneys we recommend to our clients. Each has been chosen for their honesty, integrity, their tenacity, and their knowledge of the intricacies of the real estate transaction for foreigners investing in Mexico. Our customers have full access to all of their services.

We will arrange a meeting early on to ensure that you are comfortable with the process and fully understand all of the documentation you are presented with. Just as each Playa Realtors4U agent adheres to a strict Code of Ethics, our attorneys also have a fiduciary responsibility to you the client. We take this responsibility very seriously to minimize any risk and protect you at all times.

Q: What about the availability of title insurance?

A: Beginning in 1996, Stewart Title Mexico began underwriting title insurance for Mexican properties at an approximate cost of 1% of the insured amount. Other types of insurance, including property, liability, damage, and earthquake, are all readily available in Mexico, at low cost, and policies can be written to pay claims in U.S. dollars.

Q: What can I expect to pay in property taxes?

A: Property taxes have historically been low in Mexico because they have never been considered a source of governmental revenue. Known as Predial, the tax is calculated as a percentage (currently .25% of the assessed value), determined at the time of sale. Generally speaking, you can expect to pay $100 USD per $100,000 USD of assessed value yearly.

Q: How will I furnish my new condo or villa in Mexico?

A: In an effort to provide the best possible buying experience for our customers, Playa Realtors Corp Real Estate recently expanded its services to offer furniture packages for Buyers who have purchased new and unfurnished villas or condominiums.

The actual company provides furniture packages for clients who have purchased a new home in Mexico and want to avoid the pitfalls associated with purchasing and arranging for delivery of furniture while thousands of miles away. Our mission is to provide our clients with high-quality furnishings at a reasonable price and to eliminate the stress and uncertainty that naturally comes with making a significant purchase from afar.

We will also coordinate with the property management company of your choice to be sure that your new investment is completely outfitted and ready to welcome vacation renters.

Q: Who will manage my property when I am not using it?

A: Our sister company PLAYA MOMENTS LLC will! Choosing the right Property Management company can mean the difference between an excellent appreciating investment and a huge liability. If you are a property owner in search of Property Management, we are happy to be able to refer you to the best, most professional Property Management Company and will gladly arrange a meeting with their teams.

The right management company for you will take the time to construct a cohesive plan that will best serve your particular needs and help you to realize your property’s maximum potential and protect your investment. If you looking for Professional Property Management Services for your home in Playa del Carmen or the Riviera Maya, please visit our Sister company playamoments.com page.

Q: Why should I consider buying property in Mexico?

A: The coastal real estate market in Mexico is booming. Mexico’s economy, the 9th largest in the world, values and encourages foreign investment dollars and especially tourism; Mexico is a top world destination for both vacation and retirement among US and Canadian citizens.

Q: Can the Government take my Property?

A: Foreigners often worry about their land being expropriated by the Mexican government. Under the North American Free Trade Agreement, NAFTA, Mexico may not directly or indirectly, expropriate property except for a public purpose (i.e. building roads). And only through a legal condemnation proceeding will this be possible. In the rare case where it is necessary to expropriate land, the government will pay swift and fair market compensation to the owner, together with accrued interest. This is the same process known as Eminent Domain in the USA, Compulsory Purchase in the UK, or Expropriation in Canada.

Insider Tip: If you have ever heard one of those stories about someone getting their property taken by the Mexican government, it is because the unfortunate person bought Ejido land, which is untitled land that only a Mexican national can legally own. Ejido land is the only land in Mexico that is without a title.

Q: What are the Types of Mexican Corporations?

A: There are several different types of Mexican corporations, however, the two most common are a limited liability corporation (LLC) and a limited liability partnership (LLP). Choosing which type of corporation to set up is important for tax purposes in both the US and Mexico and you should speak with an attorney or accountant on both sides of the border to understand the benefits and costs each one entails. Making sure the choice is made correctly from the beginning will save you time and money.