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Frequently Asked Questions
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BUYING A HOME IN JALISCO, MEXICO
WHAT YOU NEED TO BUY REAL ESTATE IN MEXICO?
- PASSPORT
- VISÁ - WITH READABLE STAMP ON BACK
- 10% OF PURCHASE OFFER PRICE FOR DOWN PAYMENT (EARNEST MONEY)
- A NOTARIO (ATTORNEYS THAT HAVE BEEN APPOINTED TO THE POSITION OF NOTARIO).
- SRE NOTIFICATION (SECRETARIO OF EXTERIOR RELATIONS).
l. DO YOU OWN THE LAND?
YES, YOU OWN THE LAND. THERE ARE RESTRICTIONS ON OCEAN FRONT PROPERTIES AND PROPERTIES BORDERING OTHER COUNTRIES.
2. HOW DO I RECEIVE TITLE TO MY REAL ESTATE? YOU HAVE A CHOICE OF:
A. DIRECT DEED (SIMILAR TO THE USA
BENEFICIARIES: MUST BE DIRECT LINE OR SPOUSES
NO ANNUAL FEES.
B. TRUST - THE PROPERTY IS HELD IN TRUST BY THE BANK OF YOUR CHOICE.
BENEFITS: ANYONE CAN BE A BENEFICIARY.
PROBLEMS: ANNUAL FEE TO THE BANK OF APPROXIMATELY $450 USD. PER YEAR.
3. WHO PAYS THE CLOSING COSTS?
THE BUYER PAYS ALL CLOSING COSTS.
4. WHAT DOES THE SELLER PAY?
COMMISSION.
CAPITAL GAINS (IF APPLICABLE)
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