TOP Mexico Real Estate

Mexico Real Estate Closing Costs, How to Avoid Unpleasant Surprises

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 17 Dec 2009 09:51:22 -0600

Mexican law says that Mexico real estate taxes must be paid on the higher of the following: purchase price OR appraised value Since many appraisals in the La Paz real estate market are lower than the actual selling price your taxes will be condisderably lower if the appraisal value is declared Payment on this basis has taken place for many years in many parts of the country It is, however, illegal

Should you choose to pay your Mexico real estate taxes based upon this basis, please be aware that: 1. it is violation of the law and 2. your tax base will be low for declaration of value in the property when you sell it Furthermore, if you are financing your property through an institutional lender, full value must be declared

Mexico Official Appraisal:Most appraisals in the La Paz real estate region are made by an appraiser who is usually an architect and who is recognized as a Perito Valuador, Official Appraiser, by the property tax authorities in the municipality where the property is located This is required prior to completing any transfer of title If an institutional lender is involved, a commercial appraisal may also be required You can follow more of these tips at TOP Mexico real estate blog

"Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"
Thomas Lloyd, graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. Mexico Real Estate Degree & Professional Identificacion Number S.E.P. #5978657. He is the current president of TOPmexicorealestate

The bike trails of the Chapala real estate area offer a rustic and “green” experience

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 16 Dec 2009 10:18:28 -0600

The rainy season in the Chapala Real Estate area have had a surprisingly pleasant benefit: pleasant bike rides through extraordinarily lush and green scenery. Bike rides are and activity which allows you to enjoy a closer contact with the setting around you, and are especially pleasant during non-rainy half of the day, which is that much greener because of the daily rain this season brings.

The late summer months are especially ideal for enjoying a bike ride in the area known as the Ribera de Chapala. The rain of this season has covered the mountainsides into a complete and beautiful green. The road sides as well are all that much greener; an excellent example of this are the roads in Mezcala de la Asunción, which were formerly the main access to the village, but now provide a scenic alternative to the highway.

Located conveniently close to the Chapala Real Estate area - just a 30 minute drive from Chapala, you can get to this village easily by car, and then take a tour of these ancient paths, which follow the lakeside during certain stretches, and join the neighboring villages.

They are perfect for a bike ride, since they are long, quiet, and only sparsely populated. Along the ride, you can see large tracts of chayote plantations, children and youths leading their donkeys with their load of firewood, and some others leading cows. You will see children and adults alike enjoying the freedom of living outdoors.

It’s a real experience to travel these roads from which you can see virtually untouched lakefront, or those which are separated from the road and each other by rustic stone barriers, giving the impression of an earthly paradise.

For anyone who enjoys mountain biking, there is a more difficult road heading further east; the road begins to rise with the land, heading towards San Pedro Itziscán. There are several miles of road which any mountain biker would enjoy, especially considering the added benefit of the spectacular view of the lake and the mountains.

To arrive to this villaje, you take the Venustiano Carranza Street from the gas station in Chapala to Pepe Guizar Avenue, and follow this road until the intersection with the extension (prolongación) of González Galla Avenue. There you turn left to take the highway towards Santa Cruz de la Soledad. After passing through the village of Santa Cruz, you arrive to San Nicolás de Ibarra, then to Tlachichilco and finally to Mezcala. The arrival to Tlachichilco is marked by a large statue of Christ which stands exactly where the highway turns off toward Poncitlán; to arrive to the town center, you need to turn right and follow the signs.

Chapala Real Estate will offer a bike route perfect for anyone who enjoys biking – whether a serious cyclist, or someone who just enjoys a relaxing Sunday morning bike ride. For more information about life in Chapala and finding your ideal Chapala home, contact us.

Choosing the Right Mexico Real Estate Agent

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 15 Dec 2009 10:15:27 -0600

An important aspect of purchasing real estate in Mexico is finding the right brokerIt is nota requirement to have a Mexico real estate license, so anyone can sell real estate. However, there is a professional association which adheres to ethical standards. This association is called A.M.P.I. (The Mexican Association of Real Estate Professionals) and is recognized by NAR (National Association of Realtors in the USA). Since real estate is a major investment, it is important to choose a broker that forms a part of this association to assure you are dealing with a reputable company in the Cancun Real estate market or any region throughout Mexico.

A good broker should respond to your inquiries and as you build a relationship, you will determine if this person will do the best job for you. It is very important that you find a broker that has extensive experience working with non-Mexican buyers, as the process is much more complicated.

Once you find a broker that you feel will do the best job for you, stick with that broker. Provide them with as many details about your ideal property and price range so he/she can offer you appropriate options. Working with one good broker will streamline your search, saving you lots of time and effort.

Consider using a buyer s broker. This is a broker who concentrates on working with buyers to find what they are looking for. Most brokers are listing brokers, who essentially work for the seller. They spend much of their time hunting for properties to list and their first goal is to sell you their listings.

A buyer s broker is accustomed to showing properties from many sources with the goal of finding the right property for their client. Your buyer s broker will guide you through the entire Mexico purchase process, beginning with the property search as well as closing and post closing assistance.

*Services of a buyer s broker do not cost you more as commissions are built in to the sales price and are shared by listing brokers.

Rule of Thumb on Capital Gains Taxes on the Sale of Mexico Real Estate

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Mon, 14 Dec 2009 09:44:32 -0600

MEXICO REAL ESTATE CAPITAL GAINS TAXES

(called ISR or Impuesto Sobre la Renta)

In the Yucatan real estate market, including other regions of Mexico, ISR are assessed when you sell a property The current rate is 28% of the gain (some states might have an additional one or two points) The calculation used to arrive to this Mexico real estate tax owed will depend upon several factors:

1 Years of ownership

2 Citizenship or immigrant status

3 Title held in a Mexico Bank Trust or corporation or

4 Square meters of property

5 Square meters of construction

6 Electrical or Telephone receipts in Owner's name that reflects the address of the property

7. Proper ID of the Seller that reflects the property address.

If the Mexico property qualifies as your primary residence you can usually avoid a substantial amount of the ISR To qualify for this exemption, as a foreigner, you will need to have the following:

1 A current FM-2 visa that reflects your name and address as it appears on your escrituras/Fideicomiso.

2 Electrical and/or telephone receipts that also reflect the name and address recorded in the escrituras.

3 The property must be held in a Fideicomiso (corporations do not qualify to avoid the ISR tax).

Prior to closing, the seller needs to provide the Mexico notary public with the documentation mentioned above The notario is going to follow a formula (calculation) to determine the amount of ISR owed by the Seller.

The calculation is based upon the square meters of construction in relation to the square meters of the entire lot The notario will multiply the square meters of construction by 2 If the result is larger than the square meters of total land, the entire ISR may be avoided by the seller.

If the amount of land is greater than 2 times the size of the construction, the remainder of the property will be subject to ISR

The Ixtapa Real Estate Market Offers More than Oceanview; Fishing, Surfing, Food, Culture

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 11 Dec 2009 09:47:18 -0600

If you are thinking of buying properties in the Ixtapa real estate market it is most likely you are asking yourselfWhat s happing in Ixtapa-Zihuatanejo Cultural events are an important consideration for anyone looking for Mexico Real Estate; fishing, surfing, cheerleading tournaments, cultural celebrations, great food – Ixtapa offers a wide variety of events and activities for people of all tastes, as this sample of events from the past year shows.

Ixtapa-Zihuatanejo welcomed the year with a spectacular display of fireworks. At exactly 11:59:50 on December 31st, 2008, a 15-minute-long show of continuous fireworks began, with shapes of chrysanthemums and the traditionalcastles in the air The incredible display could be enjoyed from various beaches in Zihuatanejo and Ixtapa a real bonus for anyone considering Ixtapa Beachfront Real Estate. More than 100 different restaurants and hotels offered wine, liquors and Ixtapa-Zihuatanejo s famous cooking traditions to visitors and residents who celebrated the New Year here.

One of the advantages of Mexico Beachfront Real Estate is the sea and all the activities and adventure it offers. At the beginning of May Ixtapa-Zihuatanejo hosted the 26th International Sailfish Tournament, which included marlins as well. Ixtapa is internationally recognized as one of the best destinations for sport fishing during this season Sailfish in the area can reach up to 175 pounds.

Almost immediately following the fishing tournament, the city hosted the 15th National Cheerleading Championship, organized by the Asociacion Nacional de Porristas (National Cheerleading Association). The event welcomed more than 1000 participants from universities throughout the country. The Association is recognized on an international level, having participated in competitions such asThe United States All Star Federation ,The International All Star Federation ,The International All Star Federation for cheer and dance teams and theAustralian All Star Cheerleading Federation Likewise the competition was judged by an international panel.

Last year, from September 18th to 21st, Ixtapa-Zihuatanejo also hosted the Latin-American Surfing Tournament, a six-star competition (the highest possible category in surfing championships), and the most important competition of its type in Latin America. This was made possible by the logistic support, planning and organization of various local and national organizations, and by the ideal conditions in Ixtapa-Zihuatanejo. The city welcomed more than 100 participants from various countries including Costa Rica, Colombia, Peru, Mexico, Argentina, Panama, Venezuela, the Dominican Republic and Puerto Rico. The competition took place onEl Palmar beach in Ixtapa, one of the most ideal places for surfing not only in Mexico but also in the world.

Cancun, Cozumel, and Playa del Carmen Get New Beaches

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 10 Dec 2009 11:31:30 -0600

Three regions of the Mexico real estate market receive good news this week from the Federal Secretary of Tourism (SECTUR) The long awaited beach recovery project looks to be nearly 98% approved with only the final authorization being awaited from the (SEMANART), which is the Secretary of Environment and Natural Resources.

Several private companies have been waiting for the announcement of who won the contract to begin the project along Cozumel beachfront properties, in Playa del Carmen, and as well in the Cancun region The joint venture project made up of the company Mexicana de Dragados and the company Codralux were given the winning nod on an announcement made Tuesday afternoonIn our Mexico real estate blog, we have been making updates on the progress of this Cancun Beach Recovery Project.

The project is estimated to have the cost of nearly $800,000,000 – $1,000,000,000 pesos This will be sourced from the following entities,

Quintana Roo $200,000,000

Zofemat $300,000,000

Semarnart $100,000,000

Sectur $100,000,000

SCT $100,000,000

The project will include the recovery of nearly 12 kilometers of beachfront for the Cancun real estate market On these beaches, they also plan to construct a 300 meter long wall within the water off of the shore to help future deterioration

For the Playa del Carmen beaches, 4.2 kilometers of new sand will be pumped all along the city front area to improve the area attractions Cozumel real estate region will also see benefits from this project as they will be receiving attention on 1.5 kilometers of beach recoveries

The Playa del Carmen real estate market will see very positive effects upon the completion of this project Cancun and Cozumel also will see benefits to this 4 month long project which will bring indirect and direct effects upon the market place for these three regions One of the most important natural resources that attract tourism and the quality of life for the residents in these zones are its' beaches and the water life within the shores As Mexico ramps up the nationwide tourist campaign, it is also investing money into the regional infrastructure which will give a base and support to future growth

President Calderon Visits Playa del Carmen and Cancun

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 09 Dec 2009 09:37:19 -0600

The president of Mexico, Felipe Calderon, has just spent several days visiting and touring throughout various cities and hotels in Quintana Roo He brought his wife Margarita who will also be participating on events in this tourist intensive region The Mexico real estate market, when focusing upon the segment dealing with the international second home markets, normally coincide with the same regions of the popular tourist markets. Thus, we follow closely the activities that involve the tourism industry as we know this have direct effects upon the Playa del Carmen real estate market, and many other real estate markets throughout Mexico

President Calderon began his tour with an event in the Hotel Hacienda Tres Rios located within Playa del Carmen Later in the week, Ms. Margarita Calderon was in Cancun attending an event in the Ritz Carlton while the president was in the water park Xcaret, participating in the world day of ecology

While touring in the city, they were also invited to be involved in the inauguration of the new resort hotel called Las Grand VelasAll Suites & Spa Resorts This large new complex is located just north of Playa del Carmen and south of the Mayakoba Golf course The tour will end with a visit to Costa Maya, Majahual to review the newly rebuilt cruise ship pier and new boardwalk in the downtown section of this town

The president's tour here in Quintana Roo is also supported with a national advertising campaign called VIVA MEXICO which is designed to jump start the tourism industry In the spring of 2009, with the world economic downturn, the travel warning that were distributed by the US on the drug wars in Mexico, and then with the Swine Flu scare in the April May months, the tourism markets of Mexico faced some of the lowest occupancy rates seen in over 10 years The federal government, along with various state governments have been putting together advertising strategies which will be released world wide throughout the remainder of 2009 in preparation for the 2010 season

Purchasing Your Mexico Dream Home; Condo Regime Part 4

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 08 Dec 2009 09:46:48 -0600

I have various articles written on the subject of How to Buy Your Mexico Home, if you wish to follow this series please click here to see the first post on PURCHASING YOUR MEXICO DREAM HOME Below I continue the series discussing the Mexico Condo regime.

INVESTIGATE THE STATUS OF THE MEXICO CONDO REGIME

A word of caution for those who are considering the purchase of a condominium or a lot in a subdivision In the La Paz Mexico real estate market, just as it is in the rest of Mexico and in other countries, the unit, or lot must be legally described and an individual property tax number issued This individual property must be registered in both the Property Tax Office and in the Mexico Public Registry of Property Often, a developer will spend time and energy on promoting the sale of the Mexico Real Estate properties prior to completing the establishment of the Condominium Regime Until this is completed, legal title to an individual unit or lot cannot be granted since there is nothing to describe! Be sure to investigate the status of the condominium regime prior to completing the offer to purchase!

INSIST UPON RECEIVING A REGISTERED TITLE

The Purchase/sale document signed by buyer and seller is generally legally valid between the parties to the transaction It most likely contains the description of the property, the price to be paid to the seller, and any other special terms and conditions It may be drawn up by the parties, their agent(s), or by a third party It should be considered as an interim contract, however Until the final deed is drafted by and signed before a Mexican Notary Public and duly registered, the transfer WILL NOT provide valid notice to third parties This final deed must be recorded in the Mexico Public Registry Office of the municipality in which the property is located Mexico's land registry system functions in much the same manner as those in the United States or Canada Unless the deed for the rights of the beneficiary has been recorded, there may not be a remedy for the purchaser who neglected to obtain a registered deed… his interest, his investment, may be lost.

When a foreigner is acquiring residential property for which a Mexico bank trust is required, the purchaser should receive a deed which has been signed by the bank trustee before a Mexican Notary Public This will name the beneficiaries and substitute beneficiaries of the trust in accordance with the purchaser's instructions. A full description of the property must be included, seller's Mexico capital gains taxes paid and buyer's acquisition tax paid These receipts should be included in the deed document which may consist of eight or ten pages, or more The final page of the document should bear the stamp of the Public Registry, together with Book and Page numbers and the date on which it was recorded If this stamp is not on the document, the transaction has not been completed, the buyer is not fully protected

Thinking of buying real estate in Mexico How do you choose the right broker

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Mon, 07 Dec 2009 10:50:55 -0600

What you need to know before making important decisions about Mexico Real Estate.

Did you know that real estate licensing in Mexico is not mandatory That anyone can sell real estate without having to go through training specific to the field There just recently became available a program to obtain a Mexico real estate professional degree and license but again, this is not mandatory. Yes, unfortunately this is all true. So how can you, as a consumer, protect yourself in such an unregulated market

Even though the field is not yet regulated, there is an association that was established to ensure good business ethics among its members. This association is called A.M.P.I (The Mexican Association of Real Estate Professionals) A.M.P.I. National was founded in 1956 in Mexico City with the intention to raise the technical level of the profession and establish codes of ethical business practice. This group is diligently pursuing the matter of licensing as well as ongoing training requirements for the real estate field.

This group has been striving towards a higher level of professionalism and has been recognized by NAR (National Association of Realtors) in the USA. Because of their high standards of ethics, A.M.P.I. members are now recognized as NAR International Affiliate Members. A.M.P.I. is also a member of ICREA (International Consortium of Real Estate Association) an alliance of leading national real estate organizations in the world s major marketplaces.

The constant pursuit for professionalism in the real estate field, has led to the development of courses that members can now take and one day such courses will be a requirement to receive the real estate license. For example, this year in the Cancun real estate region, the A.M.P.I. organization will sponsor a six day course for C.I.P.S (Certified International Property Specialist) as part of the ongoing training for members.

As professional Mexico brokers and agents in the market place, we get to see first hand some of the questionable practices of unprofessional independent orpart time brokers and it is frightening to see the risk unsuspecting consumers are exposed to. Many foreign consumers are unaware that the real estate profession is not regulated. You should always investigate the background of a broker before entrusting them with your business. Beware, some brokers may use the A.M.P.I. logo without being a member of the association. Some may even use the REALTOR logo if they were a licensed broker in the US, but they may not be a member of A.M.P.I. Selling real estate in the U.S. is very different from here in Mexico, so being a REALTOR is not really of great benefit for the consumer.

In hot real estate markets in Mexico, such as Cancun and the Riviera Maya, it is common to find waiters, taxi drivers, etc. moonlighting in real estate to try their luck at making a hefty real estate commission. These part timers may not have bad intentions but their lack of experience could result in a costly mistake for you.

There are still some horror stories from buyers of pre-construction developments throughout Mexico. In many of these situations, the buyer bought directly from the developer. Many consumers think that if they buy direct and avoid a broker, they will get a bigger discount. Unfortunately, that is not the case. There is always a commission paid. If there is no broker, then the commission is paid to the in-house sales staff that works directly for the developer and represent his interests. Without your broker, there is no one looking out for your interests. It is especially important in the current market to always have a knowledgeable broker, one who can recommend developments that are safe for investment. There are so many new pre-construction Mexico condo projects on the market which creates the possibility that some of them will not complete construction. Your broker will know the factors that are important in determining the risk involved based on the developers track record, marketability of the project, guarantees to the buyer and market conditions that affect sales.

Since the boom of foreign buyers in the last few years, professional brokers have realized that the way to do business is by transparent transactions. Many have realized that we have to adjust the Mexico purchasing process to one that the foreign buyer understands and gives them the greatest protection.

It is unfortunate for both buyers and professional brokers, that many brokers in Mexico still have not adopted transparent business practices. This not only puts the consumer at risk but stories of fraud and deception always come back to haunt the real estate field. Thankfully, A.M.P.I. continues to push forward to find ways to better protect and educate consumers to ensure the safety of their investments.

There are fewer fraudulent sales every year, but they still happen. Buying real estate is one of the biggest investments you will ever make. To make sure you are working with an A.M.P.I. professional go to http://www.ampi.org/ Don t be afraid to ask for references and do check them.

The Cozumel Real Estate industry Listens Anxiously to Tourism Secretary's Announcement

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 04 Dec 2009 10:25:40 -0600

The Federal Secretary of Tourism, Rodolfo Elizondo, is to announce the quantity of money that has been ear marked for the Quintana Roo Marketing budget For the past 2 weeks, this budget has been kept secret since the federal authorities had not decided the complete amount to be injected into the injured tourist industries.Along with the decrease of tourism various other external factors in 2009 have been hammering away at the demand for properties south of the border which has been putting downward pressures on the Mexico real estate market specifically those within the popular tourist regions

The Cozumel real estate market is one of the regional areas that is feeling the effects of the downturn that has occurred from the negative publicity Mexico has received in the spring of 2009 due to the drug wars, and then in April May due to the Swine Flu scare But now, on the Mexican Caribbean island of Cozumel, where the first cruise ship is scheduled to dock after one complete month of cancellations, the budget of a new campaign is to be revealed The regional directors of tourism in Quintana Roo have announced that they expect an amount similar to what was funded after the Hurricane Wilma rescue plan Ten million dollars were invested into the publicity campaigns in that occassion

Some have argued that this new marketing campaign “Vive Mexico” is a good nationwide strategy, but what Quintana Roo and other regions require is a focus upon their specific product, or specific city The occupation rates over the past week for the state has increased their averages up to approximately 40 percent thanks to theAmerican holiday week end of Memorial day Although the majority of these visitors were for the Cancun region with some hotels obtaining 60%, Riviera Maya had an approximate 30% rate while Cozumel witnessed 47%

Purchasing Your Mexico Real Estate Through Seller Financing

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 03 Dec 2009 10:03:52 -0600

The Mexico real estate market has gone through various changes over the last several years Title insurance, escrow accounts, and financing are new options and tools now available to help the non-Mexican acquire La Paz real estate properties and even properties throughout various regions of Mexico.

Until recently, most Mexico homes and condominiums were for sale for all cash or financed by the seller With the advent of NAFTA however, several mortgage companies have entered the Los Cabos and Cancun real estate marketplaces and offer long-term financing for qualified buyers If you are considering financing your purchase, and are buying in a location where financing is offered, it makes sense to investigate the terms and plans available, select the company of your choice and make lender approval a condition for the purchase

If the seller will be financing your purchase, request that title be transferred to you and a pledge guarantee contract executed guaranteeing payment Traditionally, sellers have preferred to hold title to the rights in their name and transfer title to the rights only upon receipt of payment in full from the buyer Meanwhile, however, the seller may die, may disappear, may go bankrupt… a risky situation for the buyer The prudent buyer will insist upon a transfer of title and registration of a mortgage or pledge in which he gives his rights in the property as security for payment of the remaining purchase price In the event of default by the buyer, the seller must conduct a proceeding similar to a judicial foreclosure in the United States and Canada It is troublesome, as is any foreclosure in any country in the world but not notably more problematical The registered title and recorded pledge or mortgage provide the buyer a greater comfort level in his investment The lender also enjoys protection in having his loan recorded and will have an established legal proceeding to follow in the event of default by the buyer

Yucatan Real Estate Property Taxes

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 02 Dec 2009 09:39:59 -0600

ANNUAL PROPERTY TAXES in the Yucatan real estate market and even in Quintana Roo are very reasonable.

Example: A Mexico real estate property in Yucatan, with an appraised value of, let's say, $1,000,000 pesos will be assessed annual property taxes of, more or less, $2000 pesos Probably less.

It is important to remember that Mexico propurperty taxes are based upon the Catastral appraised value of the property If at closing, the buyer decides to record the purchase at the actual sales price, (instead of the Catastral appraised value) the actual sales price will be recorded on the new deed and that will be the new value in which annual property taxes will be assessed Food for thought…

The homeowner should receive a predial (tax bill) every year that shows the property tax that has been assessed Usually, if you pay the tax early you receive a discount.

Interview with Tulum Hotel Association President

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 01 Dec 2009 09:34:33 -0600

One of the industries that effect the Tulum real estate market most significantly is the hotel and tourism industry In matter of fact, the entire Mexico real estate market is efected directly or indirectly to the activities of the tourist trade In less than 6 years, it is expected that tourism will become Mexico's number one source of revenue for the entire country So I thought it would be a good idea to post this interesting interview

How do you consider that the touristic conditions can improve here in this region, what steps are being taken

We have joined together, created a block to inform the associates and to take decisions, we are working closely with the city and the state to improve the situation with our tourist destination

We have been effected tremendously by the lower visitors and we consider that the situation will begin to stabilize by the winter months.

Our organization is meeting with different departments who has in their hands the money of Mexicans, to see which relief packages or stimulus programs will be given to the businesses, in order to save the working positions and to protect the working class from the reductions in the work forces

We have created an alliance with Chanal 30 of Tulum along with AIM Sports and Caribedicion; which are two important channels; one in Mexico about sports that is transmitted in the north, center, and south America We are preparing to pass a series of spots which will be exhibited in different hours within the programing of these channels The Tulum tourism is not a large volume rather a small quantity, and we are visited more by those people who wish to get in touch with nature and the culture

We are confident that Tulum living will recuperate much quicker than many other part of the Riviera Maya We have proposed to convert Tulum as its own proper product Although we also participate with the Trust called the Riviera Maya, whose group we have worked with in order to fortify the image of the region and of this destination.

We have taken steps to strengthen ourselves and to bring new markets to Tulum, and we realize that we have a very important product in our hands, a product that we will defend We are aware that this destination sells itself and with a little help, we hope that very soon we will return to take up the same rhythm of tourists.

What are the city and state participation of the governor of the stage

The governor of the state has been very attentive to the situation through the Tourist Secretary.We have already had meetings, they have maintained us informed of the advances and the actions of the governor of the state The next Friday, the governor will introduce various series of stimulation packages designed for the investor, I am confident that these stimulation packages will be released and will come to relieve the economies

Everyone here has seen that Tulum is a different destination compared to the others, we have created a commitment with ourselves and with our Tulum, for said reason the manner we have discovered is necessary to participate as a team, as a proven strategy that can impulse whatever project as long as the people who participate have a vision We are aware that businesses give fruit in the future and in the long run Like my father always said, “why cut the green ones if the ripe ones fall by themselves”

What will you tell the businesses that have an interest on Tulum

That they should take a look at Tulum, That they should view us with a capability of growth and that they see Tulum as a model place, the pride of Mexico, and those who have visited us, see an example of growth I believe we can accomplish this with the participation of everyone We are all Mexican and we should care for Tulum, each of us investing our grain of salt, finding a common project, walking proudly, and realizing tasks correctly The people who will judge us will be our grandchildren, defining if we did the things good or bad

Cancun Vacation Rental Income

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Mon, 30 Nov 2009 09:43:18 -0600

I finally found a perfect Cancun real estate paradise, a beautiful two bedroom condo right on the white sandy beach overlooking the turquoise blue waters of the Caribbean and at an unbelievable price of $200,000 USD I am sitting on my terrace admiring the fabulous view, knocking back a couple of margaritas and adding up all the Cancun condo rental income that has come streaming in. I have been enjoying wonderful vacations that this income pays for and not to mention that I have been putting a tidy sum away with the super cash flow it s bringing in.

I kick back and put my feet up and pat myself on the back for my savvy Mexico real estate investment I made.

Then suddenly, I wake up ..It was just a dream.

I think we all have the same dream. If that super deal with super rental income did exist, you would be second in line, because, of course I would have to buy it.

So, what is reality That comfortable two bedroom Cancun beachfront condo will really be upwards of $500,000 USD and vacation rentals will not come streaming in.

The Mexican Caribbean is becoming one of the most popular tourist destinations in the world, so the market for vacation rentals is huge. However, when choosing a property these are some guidelines to go by.

1 The closer to the beach, the higher the cost of purchase but also the property has much more potential for a higher occupancy. In some areas such as in the Playa del Carmen real estate market, the vacation rental market is so hot that properties not on the beach also do well. But the further away from the beach the lower the occupancy will be and rental rates must be lowered accordingly.

2- Occupancy rates even on most Mexico beachfront properties do not reach 100% annually since vacation hot spots are seasonal Also there are many factors that influence vacation rental income, such as recovery from a hurricane, economic problems in other countries, acts of terrorism, etc.

3- Your vacation rental income potential will be greatly influenced by the property manager you choose. Also, if you actively participate, the occupancy can increase. You will need to decide how much time and money you wish to invest in promoting your property.

4- Buy a property keeping in mind that vacation rentals should help cover the property s expenses monthly condo fees, Mexico real estate taxes, utilities, etc. Any extra income then starts to help pay for your vacations. It is not wise to purchase with the idea of positive cash flow, however if you do become actively involved and have a good manager you can do nicely with the income.

5- If you plan on using your property most of the winter, especially Christmas week, the rental income will decrease substantially. High season for vacation rentals is Christmas week through Easter.

6- Consider a Mexico condo hotel. You can purchase a fully titled condo but let the hotel operator rent it out. They will normally take care of all expenses and maintenance and you may still receive some income after all expenses and rental operation fees. However, this will limit your own vacation time as there are limits to how many weeks you can use it. Most have contracts for a certain period of years and then you can opt out if you like.

7- Another option would be a small entry level condo in an older beach front complex. There are still some options under $200,000 USD located on nice beaches. However, they are small modest units in older building. These do well for economy vacation rentals and you can have a place on the beach without a huge investment.

Vacation rental income is a definite benefit of buying a second Cancun home here in the Mexican Caribbean, but do be realistic and choose wisely. Buy what you can comfortably afford without relying on the rental income and you will enjoy your place in paradise.

Purchasing Your Mexico Dream Home; The Bank Trust Part 3

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 27 Nov 2009 09:45:33 -0600

I have been putting together various posts on the processes involved on how to buy Mexico real estate. You can see the previous posts on this series by clicking here Mexico Dream Home Below I will start to discuss the Mexico Bank Trust

Payment of the purchase price is not enough In order to have a valid ownership interest in the property which you are buying it is necessary to have the title recorded This puts the rest of the world on notice that the property is yours If you area a foreign person purchasing property in many parts of Mexico, including the La Paz Mexico real estate market and all of the Baja pensinsula, the property will transfer not to your name but to the name of a Mexican bank as trustee for your interests The Mexican constitution prohibits direct ownership of real property by foreigners in the “prohibited zone”, a strip of land thirty miles wide along its seacoasts and sixty miles wide along its borders with the United States and Guatemala/Belize, as well as the entire Baja peninsulaThis is the reason for the bank trust, the “fideicomiso”, which has been established under the guidelines of the Mexican government so that foreigners may be protected in their property acquisitions

Whether you are purchasing in a zone requiring a bank trust or in an area where title can be taken directly into your name, it is necessary that this transfer take place and your interest registered as soon as possible after the successful conclusion of the negotiations to purchase your dream property Until this transfer takes place you are vulnerable: the seller may die, the heirs may be unwilling to recognize your rights in the property , you may become involved in a lengthy and expensive probate proceeding Meanwhile, your interest may not be recognized by the authorities should you wish to obtain a building permit, by the bank should you wish to borrow money and use the property as collateral or as part of your assets; by the courts should a third party also claim an interest in the land, or, very importantly, should you later decide to sell it

The prudent buyer of real estate in the United States or Canada would not consider leaving his title “in limbo” in either of those two countries; one should not do so in Mexico either.

The foreigner purchasing real estate in Mexico is buying personal, not real property if the acquisition is on the Baja Peninsula, within thirty miles of any coastline on the mainland, or within sixty miles of any border The acquisition is personal property How does personal vs. real affect the foreigner who acquires property under a Mexican bank trust The effect is negligible Instead of using the words; “transfer of title” one should more property say “transfer of trust rights”, or, “assignment of trust rights” In practical terms the beneficiary has full control of the property He may direct the trustee bank to 1. – lease the property, 2.- mortgage the property, or 3.-sell the property The foreign owner enjoys full rights of usage and may do anything to the property permitted under Mexican law He enjoys the same rights of dominion as any Mexican citizen who has direct title to the property He may construct a building, tear it down or modify it in compliance only with the local zoning and planning ordinances or, if applicable, the home owner's condominium regime A permit to acquire the rights in the property must e obtained from the Secretary of Foreign Relations and the terms of the permit form a part of the deed Currently, the term for a trust is fifty years Multiple renewals are permitted under that law By requesting extensions each fifty years a property may be controlled by a family or business entity for generations

Yucatan Real Estate; Rectifying the property measurements

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 26 Nov 2009 09:35:01 -0600

The Mexico real estate industry is faced with many twists and turns that are not normally experienced in property transfers within our own home countriesFor example, it is common in some operations in the Yucatan real estate market the need to rectify property measurements If this occurs, this means most likely, that there is going to be a delay in the Mexico real estate purchasing process. Essentially, the escrituras on file with the Catastro and the seller's copy of escrituras have a (usually small, often infinitesimal) difference in the meets and bounds measurements stated in the documentation.

If the property is to be held in a Fideicomiso, the bank requires that the escrituras of the seller and the escrituras filed with the Catastro be absolutely the same. If they are not, the Catastro will need to send an engineer to the Mexico property to re-measure the property and record it properly. After the engineer re-measures and issues the new measurements, the owners of all the properties that bound the re-measured property must literally “sign off” on the new measurements. This can be a long and arduous process, especially if the property has numerous neighbors adjoining it.

Are you a Client or a Customer

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 25 Nov 2009 09:32:32 -0600

Is your Mexico real estate agent really working for you Do they really have your best interests in mind Are you their client or customer

So maybe you are thinking what is the difference

What exactly is the difference Well, the dictionary definition for client is:

a- one that is under the protection of another

b- a person or group that uses the professional advice or services of a lawyer, accountant, advertising agency, architect, etc.

And the definition of customer is:

One that purchases a commodity or service

Mexico Real estate properties are one of the biggest investments you will ever make, so how do you want to be treated Like a client or a customer

Your broker should be one that works to protect you, one that has your best interests at heart and one who gives you the best professional advice. Sure, all of us get paid by commissions, but those of us who will have greatest success in the business are those who put the client first.

A few weekends ago, I ran into a friend while looking at some Cancun beachfront real estate He had just started training for a very well known US real estate franchise with an office in the area. He is young and ambitious, but has little experience in Cancun real estate sales and even much less experience in doing business in Mexico. So he opted to train and work with a major company. He said he felt the training was good, but then he commented something to me that I could not believe. I had mentioned that I would be glad to share information on my listings so he can help me promote them, and that I would be glad to help promote any of his listings. In our professional association, A.M.P.I. (Mexican Association of Real Estate Professionals), this is the ideato share properties, so we may better service our clients.

Well, I was surprised when he told me that in his training, they taught that he should always try to promote their own company s listings. Only as last resort should they promote other broker s listings. And this big company is even a member of our association.

So, how does that affect you Well, if you are working with a broker that only shows you what they have listed, you are certainly missing out on other opportunities that could even be better ones. Your broker should not sell you what they want you to buy. They should help you find what you want.

So getting back to client or customer..don t you want to be a client

Lake Chapala real estate area to benefit from new tourism development plans

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 24 Nov 2009 09:45:26 -0600

Tourism sector development is a key factor in the development of the real estate market in Mexico, and Lake Chapala Real Estate is no exception. Tourist development means more infrastructure, more services, and more economic movement to support a higher quality of life. The Lake Chapala Real Estate area is currently a part of a state government program to open up undeveloped tourist potential in the area.

The Secretariat of Tourism of the State of Jalisco (SETUJAL),together with the support of the National Fund for Promoting Tourism (FONATUR) is working on an integral program, called the Regional Program for Tourism Development in various parts of the state, including the Lake Chapala region. In Chapala On July 23^rd and 24^th FONATUR held two workshops for strategic planning, in which several representatives were present from both FONATUR and SETUJAL. The general objective of this program is to promote an organized and sustainable development of tourism-sector activity in the area, responding to needs in the market and the expectations of the population. The program will establish strategies for action and investment in the short, medium and long term which will contribute to the implementation of integrated tourism-related projects and sustainable regional development.

The workshops mentioned had the purpose of getting feed-back from the experience of participants, among which there were officials from all three levels of government, members of the State Congress, scholars, commentators, and service providers for the tourism industry in the area. Each of these shared their knowledge and experience in different work groups, in which they evaluated and built on a diagnosis of tourism, the environment, infrastructure and social development.

FONATUR’s objective in this program is to create an organized plan for the entire region, including the Ribera de Chapala – and the main attraction of this region is Lake Chapala. The project would protect wetlands and develop potential tourism growth in the region. SETUJAL is also carrying projects throughout the state of Jalisco with FONATUR’s support, including one in the Tequila region (the place where the famous Mexican liquor originates), and one in the region of San Juan de los Lagos, which have just been approved by the state.

These projects, along with the one in Chapala, show that the state government of Jalisco is concerned with and taking action to tap in on undeveloped tourism potential, and develop the areas in a sustainable way. The government will continue working through SETUJAL with the cooperation of FONATUR. Lake Chapala Real Estate, which is already a thriving market, will only benefit from a structured and organized development plan.

Tulum's Highway Toward Development

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Mon, 23 Nov 2009 10:01:45 -0600

In the past five months Tulum real estate owners, the hotel industry, service providers, travelers, people who live year round in the Riviera Maya region and visitors have all noticed a big change The Mayan Riviera highway has been improved considerably with an expansion to 4 lanes and overpasses in Puerto Aventuras, Akumal, Bahia Principe resort, Chemuyil and Xel-ha Many of these bridges are nearly 90% in completion and should be ready in a matter of weeks.

People who have not been in the region lately will have a pleasent surprise to find their driving time from Playa de Carmen to Tulum be reduced by at least 20 minutes NO “topes”! Topes are speed bumps and are very common on the roads throughtout all of Mexico Intersections can represent very dangerous situations on any highway so the construction of these new bridges along this Mexican Caribbean coastal highway has been welcomed by many communities in the region Car and pedestrian accidents have already seen immediate improvements as these incidences have been reduced drastically in only a few months.

On a separate note,the southbound section is being covered with an asphalt layer to prevent sliding when wet and therefore making it safer Besides reducing the number of accidents the new coat on the road extends the life of the highway Hopefully the same treatment will apply to the Northbound

The reduced travel time and accessibility are improving property values all along the region but more so in Tulum This small town of on the southern edge of the riviera maya is poised to boom when the market gains confidence again Beautiful beaches, pyramids and cultural history, international visitors, a major airport on the planning board and government investment into the future growth You would expect to see hundreds of condos, single family homes, golf courses and shopping centers to bring the attention of the Mexico infrastructure investors But no, the inventory is extremely low Buyers today need to venture out a little, risk their real estate purchases in areas that are far from the Tulum beachfront property options, in neighborhoods where homes have no restrictions or control on the quality or style of structures that might be constructed next to your investmentOn the other hand, there is one new project which is attracting attention for the points mentioned above If you can't find condos on the beach, then people always search for properties to be as close as possible and within walking distance Aldea Zama in Tulum is stacking up points on various factors that make your investment create positive returns here in the Mexico real estate market such as; Low inventory, little competition, strong regional infrasture investment, beautiful beaches, easy accesibility

These five bridges were built in a very short time span in 2009.TheHighway 307 from Cancun to Chetumal will be completed in 2010.Most of you have seen Playa del Carmen break records as the fastest growing community in Latin America Would you bet that Tulum is going to repeat Is Aldea Zama in the right place at the right time

Playa del Carmen AMPI Chapter Elects New Board

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 20 Nov 2009 09:36:04 -0600

The Playa del Carmen real estate market's AMPI association elects a new board for the coming term of 2009 – 2011. The AMPI Riviera Maya chapter spent the morning casting and counting votes to choose a new president and committees. AMPI, with over 4,000 members nationwide is represented in all regions of the Mexico real estate market with just over 50 chapters The association has amongst its goals the continuous training of its members, the encouragement of following a guide of regulations and ethics for members and various other objectives

The new board of directors were chosen as follows;

President Wilberth Gutierrez

Secretary Enriqo Dozza

Treasurer Ulla Meihbohm

Committe of Honor and Justice Teresa Gutierrez Thomas Lloyd Jorge Penkoff

Committee of Vigilance Enrique Dominguez Ruben Rios Maricarmen Domani

The Mexico Real Estate Closing Process

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 19 Nov 2009 09:36:48 -0600

So, you have found your Mexico real estate propertyOr in my case, you have found a Yucatan real estate property, we have negotiated and signed a contract, you have paid your Mexico earnest moneydeposit and contracted with a notario/attorney to handle your closing. You have decided to either utilize the Fideicomiso, corporation or both. Your attorney/notario has copies of your passport, visa, the contract, and perhaps a POA from you to sign on your behalf.

The ball is now in your attorney's court to prepare all the necessary documentation for closing. This documentation includes checking to see that there are no debts or liens against the Mexico property; that the taxes are paid, the meets and bounds descriptions are correct, title is clear, the property is in the name of the seller listed in your contract, order the permiso for your Mexico bank trust(Fideicomiso) and/or create your Foreign Owned Mexican Corporation.

Typical closing time from signing the contract to actual transfer of title is a process of 4-6 weeks. If there are problems with the title or meets and bounds it may take longer. Usually the “Offer to Buy” purchase contract provides for an automatic extension of 90 days to acquire proper documents if there is a problem. Should the documentation problem take longer to rectify, the seller and buyer will need to sign a contract to amend the closing date.

Most foreign buyers wire the proceeds for closing to the Mexico real estate agent's earnest money account a few days prior to closing. If the Seller wishes to be paid in pesos, the realtor exchanges the proceeds into pesos on the day before closing and orders certified checks or cash to pay the seller and the notario. The realtor issues a final closing statement for review by the seller, buyer, agents, attorneys, and bank the day prior to closing.

The Mexico notary public will provide the buyer with a copy of certified escrituras at closing, after all signatures are collected. Afterwards, the notario will send the new escrituras to the office of the Catastro for recording of the new owner and title. The Catastro will then send the newly recorded title either back to the notario, the buyer, or the buyer's agent or accountant. The Office of the Catastro is notoriously slow. It is not unusual to wait many months for the new escrituras.

The offices of Catastro in the states of Yucat n and Quintana Roo are in the process of moving all the title and property tax information from paper files to electronic files that will be digitalized and stored electronically. This process has caused additional delays in receiving new title documents from the Catastro.

Second Chance in the Playa del Carmen Real Estate Market

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 18 Nov 2009 09:40:05 -0600

The Playa del Carmen real estate market has had some of the world's most interesting growth rates and fascinating samples of regional trends During the 1990's the little village was known as the pier town where you grabbed the ferry to get to Cozumel

It was not the destination, but more the community on the road towards the destination This soon changed though, people began to notice its beaches and the community.European backpackers began frequenting the area and the 5th avenue began to make a name for itself. Hotels and investors began to notice quite quickly the potential of the area Hotel room inventories grew from 10,000 units up to 15,000 – 20,000 Today, the Riviera Maya hotels have more rooms than Cancun With the tremendous growth in various Playa del Carmen industries, the populaton boom began and the real estate market began taking off

Playa del Carmen over the past five years, has been some of Mexico's strongest appreciation markets with returns in the double digits Many investors would purchase Mexico pre construction condo units and sell them 8 or 12 months later with 30% or more appreciation It was a boom all over the coast being witnessed during the first years of the 2000 decade.In the middle of this decade, the comments “I should have bought that property 2 years ago” were quite common These observations from the buying market in 2006-2008 were also accompanied by a decline on the appreciation rates Each year, as the price per square meter crept upwards, the rate of appreciation began losing some steam

2008 and summer of 2009 brought a unique occurence to this regional marketplace.The world economic recession has brought its effects onto the Playa del Carmen real estate market and in the Mexico real estate industry The appreciation rates have flattened and have begun to drop Large amounts NO,but very interesting amounts Some people see this as a half empty glass of water but the current scenario does bring about some fantastic opportunities for the smart investor In fact, there are some quite interesting investment alternatives that could be reviewed as an even healthier market for investment purposes than than the investment environment originally witnessed during the beginning of the years 2000 Let me explain

At the beginning of the Great Appreciation Boom of Playa del Carmen, there were still many risks in the market, there was the risk of new developers, risk of the reaction of the buying market, risk of unknown area development. Today, investors have first hand, regional history data The market absorption and projections are based more on history facts rather than the guessing game or correlating future results based on similar marketplaces in other regions Risks within investments, if purchasing finished products,have been reduced by the knowledge of purchasing a finished product versus the unknown results investing within a new construction Reduction of risks by knowing which neighborhoods were successfully developed and which neighborhoods have not been accepted by the buyers Also, the investor is able to measure how continuous of a demand the Playa del Carmen has reacted over several years of construction and absorption cycles These first hand facts give you and your consultant better data to manage your investments and increase your probabilities of strong returns

The probabilities of continued long term growth are strong in favor of the real estate investor when purchasing properties in the region of Playa del Carmen Obviously there is a short term downturn But that is what this entire article is discussing This fall of 2009 is presenting some incredible and unique real estate opportunities that are not common and which allows many people the “Second Chance ” to buy into the market and ride the wave of appreciation. Contact us here at Lloyd's Real Estate to learn more on how to buy real estate in Mexico and how to apply some strategies when acquiring land in Mexico

Cozumel Real Estate Updates in the News

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 17 Nov 2009 10:09:14 -0600

The Cozumel real estate market is effected by several factors which include amongst many others, hotel occupancy rates, the ecological environment of the island, and the cruise boats that visit the piers from this Mexican Caribbean islandBelow are short updates on activities this past month that are effecting the island but also the Mexico real estate market as a whole.

During the Easter vacations, the hotel occupancy rates arrived to nearly 80% Currently the island has approximately 3,522 units in inventory for the hotel industry People comment that the world economic situation has reduced the normal rates but also pointed out that with the gain of the dollar against the peso, this has regained opportunities given the fact that tourists have more pesos to spend It is estimated that each hotel room guest spends approximately $100 usd while a cruise ship tourist spends nearly $80 usd

Another update is in regards to the project of the recuperation of the beaches in Cancun, Playa del Carmen and the Cozumel Island The mayor of the municipality met withthe governor this month to advise that the island is not against the project of restoration of the beaches, but is searching for an alternative area where they plan to extract the sands The current project outlines an area on the norther part of Cozumel where they plan to dig up fresh sand The project calls for the restoration of 7 million cubic meters of sand to be sucked up from the ocean floor off of the island and blown back to the beaches throughout the cities of Quintana Roo

The news that is on front page throughout many parts of the world is the virus outbreak called the swine flu Here on the island, and in the entire state of Quintana Roo, there have been no reports of anyone having been infected The federal government has been aggressive on their response and their actions to prevent further spread of this flu and have closed all schools throughout the entire country until May 6th Cruise ships coming to Cozumel have also been postponed for the immediate future until the federal Secretary of Health gives the green flag They expect the ports to be open if all goes well within 7 – 14 days At the same time, as the government has taken correct steps in the prevention of the spread of the virus, the local, state, and federal government are already preparing action plans and marketing campaigns to be initiated to support the re surge of the important tourist industries

What is a Mexico Notary Public and What Are Its Roles

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 13 Nov 2009 10:19:05 -0600

A Mexico notary public is an attorney that specializes in real property law and is specifically licensed by the state to legally transfer Mexico real estate property from one party to another. In my previous post in our Mexico real estate blog, I talked about the how to buy real estate in Yucatan One of the most important roles during the transaction are that of the notaries The number of Mexico notary public licenses is limited by the state. An attorney who wishes to become a Mexico notary must first attend classes and then pass a board. It is a demanding process and many do not make the cut.

For those few attorneys that do pass the test and are eligible to become a practicing Mexico notary public, they enter a waiting list for the next available notary license from the state. The wait is usually many years. Frequently, a law firm will have one or two junior partners who have completed the notario board exam and can assume the position of notario for the firm. A Mexico notary public license is extremely valuable and dearly guarded by the firms that have them.

The notary public is ultimately responsible to ensure that a clean, merchantable title is passed from the Seller to the Buyer, that the property taxes, transfer fees/taxes and any Mexico capital gains taxes are paid at or prior to closing. They are also responsible to properly record the transaction in their personal books and with the office of the Catastro (Mexico Public Registry). Should a notary public fail to discharge their responsibilities in an honest, fair and transparent manner, they could lose their notary license.

Choosing a notary public is usually not difficult and your Mexico real estate agent will be able to suggest a good notary that is versed in transferring titles to foreign buyers. You may also choose to work with an attorney who is not actually a notary but is connected to a notary. Frequently, these attorneys have passed their board to become a notary and are waiting their turn. In the meantime, they are skilled at checking titles, ordering Fideicomisos and setting up corporations.

If you are setting up a corporation, it is a good idea to find an attorney/Mexico notary public that understands the mechanisms of the proper corporation to best execute your business plan and objectives. Having your corporation construed and worded properly the first time will save money, time and frustration.

Notary Public fees will vary from one firm to another. Many fees are based upon the amount of the operation (appraised value of the property). Taxes and transfer fees are based upon this appraised value.

Frequently, the appraised value of the property is much less than the actual purchase price. If you wish to record your deal at the actual purchase price, that is fine, but be prepared to pay higher closing costs and, perhaps, you will be expected to pay the additional capital gains tax that the Seller will incur due to the buyer's desire to close the deal at the actual purchase price instead of the appraised value.

Thinking of buying a place now for a future Mexico retirement

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 12 Nov 2009 09:30:22 -0600

Not quite ready for that Mexico retirement But if you re planning your future in a sunny place, now is the time to get the ball rolling. Join the multitude of buyers doing just that.

Mexico Condo & Pre-construction Opportunities

In the last few years the variety of options for second homes and retirement homes in the Cancun real estate region and the Riviera Maya area has increased to enormous proportions. This boom in the Cancun condo market and the pre-construction opportunities provides options for different lifestyles and tastes. And with more options available, developers are becoming more competitive, offering more amenities and better finishings.

This competitive market has also opened the door for more flexible payment plans. Over the past few years, most developers throughtout the Mexico real estate industry required an initial down payment, maybe 25-30% and then the balance paid in equal installments over the construction period. This scenario made it difficult (and undesirable) for most buyers.

Finally some savvy developers are offering more accessible plans, with an initial down payment and the balance upon delivery and title. With this type of payment plan, buyers can apply for long term financing. There are now many banks and Mexico mortgage companies offering financing for US and Canadian citizens.

And now with the credit problems in the US, many developers are rolling back prices to spur sales. Since there are lots of options available for buyers, they are starting to realize they need to be competitive with pricing. Because of the devaluation of the peso, many are switching their pricing schedules to pesos, making it even more attractive for US buyers. With the currently high Mexico exchange rates, buyers can get more for their dollars in this market.