• Home
• Lifestyles
• Real Estate
• Rental Division
• Playa Amor
• Buying in Mexico
• About Us
• Punta Mita Region

Buying in Mexico

Acquisition Process

1. Initially, a 'Promise to Purchase and Sell' is made; this act is prelude to the future 'binding contract'. At this point, the buyer s expected to make a deposit of between 10%-50% of agreed purchase price. The property is then taken off the market.

   On closing the transaction, the Notary must be involved again. They will require the following documents to transfer the title to the property and record the Purchase sales Agreement. This contract needs to be in writing.

   To record the agreement and put a 'hold' on anyone else over-riding your purchase transaction, the Notary requires the following documentation.

   1. Title documents for the property
   2. Property tax receipts for past 5 years
   3. Water bill receipts for past 5 years
   4. Certificate of no encumbrances; this shows the history of title and a description of the property and also ensures there are no other claims to the property.
   5. Topographical study report
   6. Notice of purchase

   Aside form the Notary fee, other taxes and costs are held by the Notary, including the income tax form the sale. Traditionally, the buyer pays the transaction fees, but this can be negotiated privately.