Mexico » The Purchase Process

Process for purchasing real estate in Mexico is comparatively simple and well regulated; it does involve many stages, a great deal of paper work and the support of a well respected lawyer and a good legal representative. Foreigners wishing to buy land or property in Mexico today are no longer limited in any way.

The legal representative is also liable for conducting a number of searches on the property an investor is buying. Once property has been sourced and a successful offer made for it, the sale agreement can be drawn up. This will include the cost of the property and any conditions for the sale; it will be signed by the buyer and vendor and a deposit of up to 10% of the propertys price will be due.

Permission to purchase will then be applied for from the Foreign Secretarys office, this procedure is usually just a formality and the property investors lawyer and notary public will conduct their thorough and detailed searches and checks on the property and the vendor.

If all is found to be in order with the real estate the sale will be closed, the outstanding purchase price will need to be paid and all taxes, fees and charges will be due. The entire purchase process takes an average of three months in Mexico, although with a complicated sale the duration of the purchase process can be even more drawn out.