Mexican Real Estate

This title is currently out of print. Introduction to the Mexican Real Estate System was written to fill a knowledge gap between foreign professionals, lenders, and investors, on the one hand, and the fascinating Latin country whose emerging economy, population, and opportunities will set the tone for North America development in the years to come. As the author says in his Introduction, "One may well debate whether the Americanization of Mexico is better or worse than the Mexicanization of the United States, but there is no longer any question of the direction in which history is moving." Neither an arid legal treatise, nor a compendium of experiential anecdotes, the book attempts to strike the right balance between the general and the specific, between the deep background and the nitty-gritty of daily practice, to deliver to its readers a functional knowledge of the subject.

As home prices in the U.S. hit record highs, Mexico has emerged as a solid contender for people who are considering either buying second homes or investing in a holiday home or future retirement properties. The U.S. State Department estimates that there are 385,000 Americans permanently liv-ing in Mexico. This book details precisely what to look for in real estate investments and buy-ing prospects, as well as how to find the best opportunities, buy with little or no money down, decide where to purchase, and how to choose and hire a realtor. You also will become knowledgeable about negotiating and financing, budgets, home-buying timelines, the process of building a house, homeowners' insur-ance, creative financing, closing and settlement inspections, legal contracts, what you can afford, and which government agencies can help. This book is a must-have for the investor considering a second home below the border.

After nearly a decade of work in Mexico insuring real estate properties to foreign purchasers, the same issues always seem to surface regarding second home acquisitions: "If I buy a house in Mexico, don't I get a 99-year lease from the government?" "I understand that I can buy a residence in Mexico only if the title is vested in a Mexican corporation." "I didn't think Americans could own Mexican beachfront properties." All of these suppositions are incorrect. This book attempts to help clarify and explain why Mexican real estate, when using the proper safeguards, can be a terrific, secure investment. It will also explore the purchasing mistakes of the past, summarize several of the attractive new locations that are luring foreign dollars and explain why Mexico is so eager to welcome second home buyers from outside its borders. The worst thing a potential purchaser can do is to remain ignorant of the law and procedures involved in the conveyance of real estate in a foreign country. As we state several times in this book, Mexico is not the perceived "Wild West" where anything goes and the prevailing Mexican attitude is "trust me, no problema." It is inherently important for non-Mexican buyers to understand that Mexico has formality of law with authorized regulation of real estate development procedures at all levels. This process is coupled with a statutory government framework for the legal conveyance of real property. Great personal wealth has been attained through real estate ownership, but for most of us, it has been limited to investment in a primary residence. Although Mexican real estate also can be a viable investment venue, Americans have had a great deal more trepidation considering properties "south of the border." And for good reason--considering the history of some acquisitions. Given today's investment climate, however, Mexico provides an attractive, alternative arena for potential investment. Real estate in Mexico should have a similar appreciation "upside" as does real estate in a U.S. development--coupled with the advantage of use and enjoyment of the property as a vacation residence.

More than a million Americans own second homes in Mexico, according to the National Association of Realtors. As home prices in the U.S. hit record highs, Mexico has emerged as a solid contender for people who are considering either buying second homes.

Over the past 35 years, hundreds of thousands of readers have agreed: This is the classic guide to "living, traveling, and taking things as they come" in Mexico. Now in its updated 14th edition, The People's Guide to Mexico still offers the ideal combination of basic travel information, entertaining stories, and friendly guidance about everything from driving in Mexico City to hanging a hammock to bartering at the local mercado. Features include: • Advice on planning your trip, where to go, and how to get around once you're there • Practical tips to help you stay healthy and safe, deal with red tape, change money, send email, letters and packages, use the telephone, do laundry, order food, speak like a local, and more • Well-informed insight into Mexican culture, and hints for enjoying traditional fiestas and celebrations • The most complete information available on Mexican Internet resources, book and map reviews, and other info sources for travelers

A guide to Mexico's civil law system helps foreigners learn the property buying process. A bonus section provides tips on how to choose a real estate agent plus practical matters such as utilities, fees, and insurance.