If you have always thought of settling down in Mexico, this is the time your dream can come true. Many of you may have thought about this but wasn’t sure if you are allowed to settle down in Mexico or not. But, today, all your confusions will be wiped out once you get to know that you can easily buy and sell property in Puerto Vallarta. To acquire properties here, you need to know about the restricted zone and also about the laws regarding buying houses here.
The restricted zone is stretched about 100kms of the borders of this country and also 50kms along the coastline. Not only that, but the entire Baja California and Banderas Bay are also included in the restricted zone. To buy property here, a Trust Deed is used. Now, let’s find out how buying property in Mexico can be easy for foreigners.
Who Can Help You In Buying Real Estate Property in Mexico?
If you are determined to buy Puerto Vallarta homes or condos or any other real estate properties, you can get help from:
- A real estate company or agent
- The lawyer of the buyer
- A public notary
- A bank
These people are quite helpful in many areas of Mexico where you want to buy a property. If you are buying property outside the restricted zone, you don’t need to involve the bank. Else, the criteria are necessary to be fulfilled.
Can Foreigners Buy Property in Mexico?
Yes, you can, but there are certain restrictions. If you are a Mexican citizen, you can buy property anywhere in the country without any barriers. But, once you are a foreigner, specific geographical issues may stop you buying real estate property at your desirable areas. But, things are not so complicated here. If you want to buy property within 62 miles from the border or 31 miles or closer to the coastline, you need to do it through a trust from a Mexican Bank. There is no doubt that it is a long process, but it will ensure that you can buy properties in those areas.
Besides the bank, you will also need a notary and a lawyer for the entire purchasing purpose.
How can Property Agents Help You to Find the Right One for You?
Once you are planning to buy property in Mexico, you need to search for the best real agents in the area you are choosing to buy it. Your search should be extensive and enough so that you find suitable realtors as per your need. Here, you also need to remember that the realtors’ fees are quite high in Mexico, so, you should go for negotiation always.
Hopefully, now you know how buying Puerto Vallarta condos or other types of houses in Mexico is easy. Here, you also need to stay alert to avoid scams. You can study the market, go for the reviews and referrals, inspect the property, and then proceed to buy your house in Mexico.