Unless you’ve been living under a rock, you must be aware of the surge in the real estate market of Mexico. The fact that today, even foreigners can invest in Puerto Vallarta condos or a piece of land somewhere in Punta Mita proves a case in point. You might wonder if you too would like to buy a beach-facing property now when the time is right. However, while the temptation might be strong, there are a few points every potential property buyer in Mexico must take note of. These are basic thumb-rules for foreign nationals as well as local Mexicans to ensure they strike a deal properly.
Study the Property Market
If your friend buys condos in Riviera Nayarit, don’t just jump in the bandwagon yet. Take time to study the market real close. Check the rates that vary as per the cities and so check them out too regularly. You will be able to see the benefits of buying property in certain areas and from certain developers also. All this information will come in handy. Likewise, it will help you to be aware of when the property rates are going up or low.
Go for Trusted Real Estate Agents
It makes sense to hire only a trusted and a reputed real estate agent for helping you pick the right plot or condo. Whether you are looking for Riviera Nayarit condos or a spacious villa with pool at Puerto Vallarta, just get the best agent. The agent will be aware of the on-going projects and the completed ones. They will also save your time by narrowing down your options in the quickest possible ways. You will not have to worry about the real estate paperwork too. Read online reviews and go for recommendations from known sources when it comes to finding an agent. Watch out for scamsters whether you are a foreign national or a local.
Book an Appointment with the Seller
If you are planning to buy a property, do not hesitate in meeting the present owner or the seller of the property in Mexico. Fix an appointment with them and drop in to meet them in person. Look around the property and then even inform them of your intention to go for a final inspection before purchase. He or she would agree to this.
The Final Inspection of the Property
Hire an expert to check the property for any leaks or plumbing or drainage issue. If the house has weak ground, these specialists might be able to warn you in advance. Though the property might be new, there might be chances of mold.
Hire Legal Expert for the Possession Formalities
If you are sure about the purchase of a property, hire the attorneys to draft the papers. They will also help to get the blueprint and the transfer of ownership papers.
In short, proceed with caution and make sure your property acquisition of the Riviera Nayarit condos happens smoothly and in the legally right process.