Buying in Mexico
Notary Public
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(The Notary Public is used to set up the Bank Trust and record the Purchase Sales Agreement)
In Mexico, the Notary Public are licensed attorneys, and hold far greater office than those in the States or elsewhere. It is an important position which is taken most seriously by those who hold the post. It is the Notary that will prepare the deed to the property and everything official should be done through a Notary Public to help ensure all documentation is correct and above board. We do however advise you secure the services of a lawyer versed in real estate to assist you through the process.
- Title documents for the property
- A 'No tax Liability' certificate; to ensure there are no outstanding tax or other liabilities on the property
- 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.
- Topographical study report
- Appraisal; this must be done by a bank appraiser or a State attorney, licensed to perform appraisals. The value is used to calculate property taxes etc.
The Notary fee varies depending on the property price and is usually around 2.5%.
