PROCESS OF BUYING A PROPERTY IN MÉXICO

Here is a list of some of the necessary steps when acquiring Real Estate in Alamos, Sonora.

In Alamos foreigners can buy a property directly from a seller because we are outside of the restricted zone. To own property is necessary to obtain a permit by applying with the Mexican government. This is just a formality and is very easy to get.

The buyer will receive a deed of the property in their name. the deed is processed by a Notario Público. In México a Notario Público is a highly qualified and respected lawyer who is appointed by the governor of the state after a specialized examination.

After the buyer and seller agree on the price and conditions they sign a contract specifying the details:

1. You will need 3 copies of your visa and passport which must be notarized by a Notario Público. This copies are included with the application for the permit to the Mexican government.


2. A new survey is required. This will be included in your deed. On occasion the old survey may not be accurate and it is necessary to verify the actual size of the lot.


3. A letter from the Registro Público to certify there are no liens on the property. The Registro Público is similar to County Recorder in the United States.


4. A letter from Tesorería Municipal stating that property taxes have been paid.


5. Appraisal. This is very important because your transfer taxes, notary fees, register feeds an capital gains taxes are based upon the appraisal. Most of the time capital gains in México are paid by the seller.

When all the documents are complete, an appointment will be made with the Notario Público. At this time the buyer and seller will meet with the Notario Público and sign the appropiete papers. After the documents are signed it takes about a week to receive the deed.

Property taxes in México are very low. They are paid annually and if paid by the end of January. A 10% discount is awarded.

Normally, you do not need a lawyer to buy a property in México, but it is recommended that a lawyer be consulted if the property is in probate of there are any questions regarding the title of ownership. Camino Real can provide legal advice regarding real estate issues and other matters.

Then, enjoy México in your new house.

  Our goal is to offer you the   most professional, ethical and   friendly service available.

 

Lic. Everardo Ramos Zayas.