Real Estate Listing Websites for Best Mexican Property Deals

Real Estate Listing Websites for Best Mexican Property Deals 

Summary: The property listing websites are very beneficial for buying Mexican beachfront properties. Here we have detailed some important information on these websites. 

Resource Box: Mexico property deals are very different from other real estate markets. And land for sale Mexico should always be bought with proper bank trust or corporation. 

Most of the time people are confused when they think of buying a land for sale Mexico. As the country does not fall under the jurisdiction of the United States, the laws governing all the real estate transactions are different. Therefore before you set your step to buy a Mexico property we would like to share some interesting facts which will benefit you. In Caribbean environment, the feel of the freshness and joy in the air lures many to own their land here. Looking at the increased interest of the investors who are looking to buy property in the area and so the government has eased the regulations to an extent. 

Now owning your own coastline land in the Mexican region is not as difficult as it used to be. Still the real estate dealings in the region are not exactly the same like other property markets. The Mexican government do not support any other nation’s lawyer intervention or services for the legal work. Therefore, first you will need a Mexican lawyer strictly to represent your side in the deal. Another important thing is that due to no direct regulation in the real estate markets in Mexico, it is not safe to buy any property from individual and part time or freelancing agents or brokers. Always take help from the legal professionals and qualified real estate companies to buy a property in Mexico. You can easily get the credentials of reputable companies with the Mexican consulates. 

The online services 

Buying a beachfront property is way too easy for the clients making use of the online real estate listing services. The Mexican beachfront area is very restrictive and in the past few years there has been a dramatic increase in the population there. This has caused high rise in the price of properties in Mexico. The online Mexican property listing  websites offer you the opportunity to make most of the available beachfront properties easily. 

These listing websites only deal with the reliable and genuine properties. This decreases the troubles on the part of the buyers. They do not have to do background checks and all other stuff to find out a legally approved property.

With the use of the websites, it is also very easy to find a potential property of your interest. As the properties listed on these websites are filtered based on price, space specification and other keywords you can easily find a property of your interest. Also, it is not possible for you to visit every coastline property on your own, these listing websites bring all the specifications and descriptions at your doorstep. Make use of these websites to understand the advantages and unique features of a property which can be more beneficial for you. As these websites offer you many options, you may find a better deal within the same budget. 

As the legal documentation of Mexican real estate transactions is different from other listing websites provide many useful resources for this support as well. Altogether the real estate listing websites provide you a reliable as well as proficient way of buying Mexican beachfront properties with ease. 

MLS Mexico

Buyers guide for Mexico beachfront property

Summary: People usually have many problems related to oceanfront property in Mexico. Here we have listed all the details of buying such properties for you. 

Resource box: Buying beachfront in Mexico is a dream for many. Well buying Mexico property is not as simple as there are different laws governing the markets. 

Mexico, the land of enchantment is a place which attracts tourists from all over the world due to its beaches. Having your own place in Mexico can be very exciting as well as a great choice. This is exactly what came to my mind when I was buying beachfront in Mexico. It appeared to be a very simple task at the first place but the real task of buying a Mexico property turned out to be somewhat difficult. It is not that there is some kind of sinister real estate market here but due to my unawareness. Being new to the Mexico real estate policies, I was not at all aware of how to proceed. 

I do not want you all to face the same problem, that is why I bring you all the important information on how to buy a beachfront property in Mexico. 

The Beachfront Real Estate in Mexico 

The Caribbean beachfront properties are very limited. Not everyone gets the chance to boast that they own a property in the Caribbean. The property prices of the Eastern coastline of Mexico which is constituted by Cancun, Playa del Carmen, Puerto Morales, Tulum and Puerto Aventuras witnessed exceptional growth in the past years. Due to this, the property prices along the northern coastline called the Mayan Rivera, soared very high. The Rivera Maya is home to Sian Ka'an in the south east which is one of the world’s largest natural reserves. In this area, buying property is allowed but very restrictively and the transportation is also very difficult. In the next few year the Mexico gulf area of Campeche will be starting to come into its own so now is a good time to invest.

Therefore you have an idea how difficult it is to secure your place in Mexico. 

The things to keep in mind 

As there is no regulatory body as such which is controlling the real estate business in Mexico you will find a great variance in the quality of services you get. You will find an agent who is offering very lucrative property deals but their reliability is doubtable. Therefore before you hire any agent these are some questions to clarify: 

• Is the real estate company they represent has a certified escrow account either in Canada or U.S.?
• Is the agent resident of the local area? 
• If the agent is a foreigner, then can he can show you a valid working visa and passport?
• Ask for the referral of their previous clients 

Once all these questions are answered satisfyingly, then you can proceed further. 

After the agent has shown you enough convincing property then you can sign up the agreement. Make it a point to never pay even a dollar to the agent or company in hand. Transfer the money to the escrow account in the States or Canada.  The paper trail then obtained after making the payment assures that all your money is in right hands and safe. According to the normal norms the initial payment is 10% of the deal. 

Also remember that all these policies are for the domestic nationals, for foreigners the laws are entirely different. 

Useful Links

MLS Mexico

Merida Realty

Free Wanted ads in Mexico

Are you looking for Property in Mexico. 

There are many sites out there which let you list your property but only MLS Mexico url www.multilistingservicemexico.com allows you to list your intension to buy a property in Mexico.

What this means is you can go the the website and with in a few minute leave a ad for agents and brokers to see what type of property you are looking for, and in what area you also require.

This is how it works.

First only agents in that area get to see your wanted ad, this stops you getting spam email from all over Mexico.

Second they have to be members of MLS Mexico to be able to see your ad and have logged into MLS Mexico property system.

Third the Agents and Brokers must work with in the term and conditions of our site which stops them send you listing on properties you are not interested in.


So here is the direct link.

MLS Wanted Ads Mexico


Enjoy hope you find what you are looking for.

Buying Property in Mexico

The rise of burrito bars and Mexican street food restaurants springing up around the UK shows that Mexican culture away from the traditional images of tequila and huge hats is beginning to win the hearts and minds of the British public.

And while we may still lagging behind our North American counterparts in snapping up Mexican property, a small and adventurous band of Brits are beginning to discover the diverse delights that Mexico has to offer. Moving to Mexico means a great quality of life. The country’s economy, currently ranked 14th in the world, is booming with 700,000 new jobs created in 2010 alone. And the good news is that this economic surge has not been met with increased costs of living for residents and visitors. It is possible to live an extremely comfortable lifestyle for just £200 a month.

For those thinking of moving full time, Mexico is also famed for its excellent medical facilities. Becoming a resident (which you can do after purchasing land) enables entry into the National Health Care Plan which offers 100% cover for around £160 a year and access to the country’s first rate hospitals. And then there’s the warm weather. The Mexican Caribbean (Costa Maya) is 28 degrees year round and the rest of the country stays warm across the seasons.

Property hotspots in MexicoLos Cabos – One of Mexico’s most popular areas for investment, tourism, and relocation, Los Cabos is starting to see huge swathes of development and is already home to some of Mexico’s most prime luxury properties. The area’s popularity means that buyers will never be short of things to do, with a wealth of leisure and entertainment options available. While prices are rising in the area, you can still get a luxury townhouse, with access to golf courses and 24 hour security, starting from around £350,000. However, big spenders have the potential to spend £2 million on something really stunning.

Lake Chapala – An area that is growing in popularity with expat Brits, Lake Chapala offers one of the finest climates in the world and stunning scenery courtesy of the impressive 55 mile body of water. A nearby international airport at Guadalajara is only twenty minutes away, making access easy for holidaying Brits or visiting relatives.  Here, it is possible to buy a three bedroom villa within a semi gated community with access to a shared pool for £200,000.

Cancun – One of Mexico’s most international destinations, Cancun is popular with visitors from across the world in part due to its well connected airport Cancun International, which is Mexico’s biggest for international travellers and operates direct flights to and from London Gatwick, Glasgow International, Belfast International and East Midlands among others. Property in Cancun is, as a result, relatively high in price and more generous in rental yields. A 275sqm condo can be yours for  around £700,000 while a smaller but still not unsubstantial property of around 275sqm would set you round about £460,000.  The future is also looking bright for the area- modern beachfront hotels are beginning to attract increasing numbers of visitors to the area, which means even greater development.

Campeche – This area that is fast becoming the next Rivera Maya is of the Gulf side of the Yucatan. The area now has several large developments along the perfect white sandy beaches. A nearby international airport at Campeche is only forty minutes away from Sabancuy a small fishing village set to be the next big explosion in property market.  Along the coast you will see a few finished properties and the first main coastal attraction AKK Bal. Lots are available in this area from 95,000 for a 20 meter beachfront plot.

Buying process

The Mexican system of buying a property follows the Spanish notarial system with a notary acting for both the buyer and the seller. After the offer on a property has been accepted it is the notario’s job to organise the surveys, transfer of deeds, and to register the property with the relevant local authorities. Prior to this happening though, the buyer and seller will sign a promissory contract and a deposit of around 5-10% will be taken from the buyer.

One slight complication is the fact that the Mexican constitution prohibits direct ownership by foreigners of property within a “restricted zone”, which includes any land within 100km of Mexico’s borders (with the USA, Belize and Guatemala) and within 50km of its coastlines.

However, there are ways to get around this law.  Having realised the implications on overseas buyers investing in the country, the Mexican government introduced a form of trust scheme in 1994 which enables a bank (ie the mortgage lender) to own the title to the property, nominating the buyer as a beneficiary (meaning they have full ownership rights). Known as a fideicomiso, this is easily renewable and available in 50-year intervals.

There is no legal requirement to appoint a lawyer in Mexico, although this is highly recommended.

Buying costs

In total the cost of buying a home in Mexico will come to around eight per cent of the purchase price which includes forming the trust which your property is held in, estate agents fees and costs including notary fees and expenses and transfer taxes.

The cost of setting up the fideicomiso involves a one-off fee of £1,600, plus an annual fee for the trust based on the value of the property. In addition to this yearly charge, you will also need to pay 0.25 property tax per annum.

There is no VAT payable on residential property, but you will be charged 33 per cent capital gains tax on the rise in value of your property when you come to sell. The good news is that Mexico operates a double taxation treaty with the UK meaning that you will not be taxed twice on any profit you make.

Buyer beware

A consideration that potential buyers in Mexico must be aware of is the high cost of securing a mortgage in Mexico compared with the UK. Interest rates are currently around 14 per cent, and banks will require a deposit of between 30 and 40 per cent. It is also hard to secure funding through US lenders as many will only lend according to equity you have built up in the States. The best way to finance your property if you’re not buying with cash is to remortgage in the UK, which will enable you to avoid the high interest fees.

Another thing to note is the fact that estate agents in Mexico are not licensed or regulated in any way. Make sure you shop around to ensure you are dealing with someone reputable and that they are offering you value for money.

info supplied by 

www.multilistingserviceunitedkingdom.com

http://www.aplaceinthesun.com/

Condos for sale in Mexico

Resource Box > MLS Mexico > www.multilistingservicemexico.com

Searches for luxury coastal property in Mexico by overseas buyers have increased by 32% since it was revealed that a 100 year restriction on foreigners buying by the sea is to be revised.

In particular real estate investors from the UK and German have increased their number of enquiries while Americans are also interested in buying over the border.

Mexico’s lower house of congress voted in April 2013 to loosen restrictions on foreigners buying property in the area, and since then international online firm LuxuryEstate has seen a huge increase in sales inquiries.

Changes are likely to make it much easier for foreign buyers and real estate agents expect the number of inquiries to rise again once the changes have been ratified.

The resort towns of Cancun and Playa del Carmen are set to benefit the most, with 57% of all property searches by UK residents centered on the state of Quintana Roo, in which they are located.

Mexico is emerging as a particularly popular destination for British visitors with nearly 20% growth in the first quarter of 2014 alone and the UK now ranks third in terms of numbers of visitors to the country.  International visitors to Mexico grew 6.8% in the same quarter overall.

To view properties in Quintana Roo you should visit MLS Mexico this is network of people Agents brokers and individuals that list property in a central location for people to search, for condos, apartments and beachfront land in Mexico.

If you are looking to sell your property there are buyers waiting in the wanted section check out the listing to compare the market value in your area.

Other helpful sites in the Quintana Roo are listing on Martindale

Buying Real Estate in Mexico

Resource Box > Merida Realty > www.meridarealty.com

Mexican Law: Property Ownership

Mexican Law provides for private ownership of land by foreigners, and its law is very specific about the way in which land rights should be transferred from seller to buyer, and also what type of lands are not eligible for public ownership. A Notary Public (see below) will guide you through the details of these, but generally:

• Property may be purchased and owned outright for residential use by foreign nationals outside of the 100km restricted land border zone, or outside of the 50km coastal zone;
• Inside of the restricted border/coastal zones, foreign nationals may own land through a fidecomiso (a trust) which is set up through a bank and provides for ownership of the land and property in all but name or by setting up a Corporation. See Below

The Mexican Constitution previously banned foreign nationals from owning property that was within the restricted border zones. This old law was intended to protect Mexican soil from foreign invasion.

Fideicomiso: Land Trusts

Because the Constitution cannot be altered in this respect, the Government introduced a system of land trusts, so that foreign nationals could invest in property inside of the 'restricted' zones.

So now, if you as a foreigner, want to buy a dream home with a Pacific beach view, you now can, except that it will be by means of a trust, set up through one of the main banks in Mexico.

The trust holds the deeds to the property, and you and/or other named persons which you specify are sole beneficiaries to the trust (and therefore, the property). You have full rights to do whatever you like with your property: it can be developed (in accordance with local planning regulations), rented, leased, sold, or given away. In other words, you own the property in all but name.

The trust enables you to name a beneficiary upon your death, and you do not need to have a Mexican will in order for your wishes in regard to the trust to be executed.

You do not have to be resident in Mexico to own property there, so there is no need to qualify for resident status under immigration laws in order to have a property investment in Mexico.

Mexican Law on property ownership is comprehensive and provides protection for the seller and the buyer in all property transactions, provided that the law is followed, and you ensure that all necessary documentation is present and that the procedures are adhered to. Your Notary Public is an important person in this process, and he/she will guide you.

Difference between Trust and a Corporation

Foreigners are welcome to invest in property along the coast, but there are restrictions. The most important restriction is contained in Article 27 of the constitution which states "that foreigners cannot own property within 100 kilometers (60 miles) of the border and 50 kilometers (30 miles) of the coastline." The government, however, provides two ways to get around this restriction - through the use of a Trust (Fideicomiso) or a Mexican corporation.

How Does the Trust Work? - Three parties are involved in the trust:

• The trustor (the owner of the original property)
• The trustee (which is the bank)
• The beneficiary (the person who will receive the benefits of the trust.)

The Trust, which in Mexico is called a Fideicomiso, does not give direct ownership to the foreign beneficiary. Instead, it establishes the legal basis by which the bank holds legal title to the property in order to act on the foreigners behalf. This trust deed assures the foreign buyer of all rights and privileges of ownership. The Foreign Investment Law, a Constitutional amendment created in 1973 and amended again in 1994, allows the trust to be established for a term of 50 years and is renewable any time during its existence, forever.

The Bank (trustee) holds the trust deed for the person who purchases the property (beneficiary). The property is not part of the bank's assets and cannot be liened or attached for any other obligations. You, the purchaser, are the beneficiary and have all rights of enjoyment of the property including the ability to remodel, lease, mortgage, pass to their heirs or sell the property at any time.

The Mexican government established the trust system as a protection for foreigners interested in owning property in Mexico. By making ownership pass through the trust process, the bank is required to check ownership, insurance, and liens against the property. There would be an automatic review of the transaction, thus ensuring:

• Valid Ownership
• No outstanding indebtedness of the Property

Bank Trusts may be granted and extended in 50 year periods. If you purchase property, the existing trust deed may be assigned or a new 50 year trust created. Trusts are renewable at any time by simple application. The costs to establish a fideicomiso trust vary from bank to bank. However, the range is approximately $1,000 to $1,500 U.S. dollars for the trust set up and about $300 to $500 U.S. dollars for each year's maintenance of the trust. These fees are paid directly to the bank that has your trust.

Bank trusts are established by a Mexican Notario (Notary), following the receipt of a permit by the Minister of Foreign Affairs. This procedure is routine due to the large number of foreign property owners. The forms are standardized and the entire process is usually completed by the notary as part of the closing procedures.

What does the Bank Do? - It is an important link between the foreigner and the government. The bank accepts full technical, legal and administrative responsibilities and protects the beneficiary's interests. While the bank is the technical owner of the property, they have a statutory responsibility to follow the beneficiary's (YOUR) instructions concerning the property. Therefore, the control of the property is in your hands - not the bank's.

What can the Foreigner Beneficiary Expect from the Trust Agreement?

• The beneficiary can occupy the property for the life of the trust.
• Title to the property can be transferred to the foreign beneficiary in the event that he acquires legal capacity to hold such property, or to any legally qualified person he/she may designate.
• The trust can also be heired to your family by naming them as substitute beneficiaries in the event of your death. The property can also be sold to a person legally authorized to own land or to a foreigner via a trust.
• The property may be rented with prior approval from the ministry of foreign affairs.

Beneficiaries are allowed to modify their property. Construction, in accordance to local zoning regulations, is permitted at the owner's expense.

Closing Procedures - Once your offer of purchase and sale has been accepted, the closing process begins. To validate the Offer of Purchase and Sale, a deposit (normally 10% of the purchase price) is required. The money is held either by your attorney, notario, real estate agent, or placed in an escrow account. These funds are held during the time needed to close. The balance is payable upon the signing of the trust deed at the office of the Notario. Most real estate agents have one or two notarios with whom they usually deal.

In order to obtain the trust deed, the notario will:

• Ensure the property is free and clear by checking the Land Registry Office. This is guaranteed by obtaining a non-lien certificate and tax statement from the treasury. Additional checks are made for outstanding utility bills and municipal taxes.
• Obtain a permit from the Minister of Foreign Affairs to establish the trust deed.
• Prepare all documents for both buyer and seller.

When the above has been completed, the notario will present your representative with a statement of remaining funds due and, once paid, will present the legal transfer papers to be signed by the seller. The entire closing process takes between 30 and 60 days.

The Closing Costs - Closing costs are paid by the Buyer and depend on the value of the property purchased. They include a transfer tax (ISAI) of 2% which goes to the Mexican government, an average of 2% for legal Notary fees, a registration fee of .05% of the assessed value of the property, fees for the tax certificate, title search fees and property appraisal, as well as miscellaneous office expenses.

The Seller pays all capital gains taxes and real estate fees. Capital gains taxes are 35% of the difference between assessed values at the time of purchase and sale, with adjustments made for inflation and capital improvements.

Capital Gains Taxes - As noted above, the seller pays all capital gains taxes. As a buyer you are eligible for a one time exemption from capital gains tax if you establish residency for 2 years after your purchase prior to selling.

To establish residency, you must have an FM3 (Resident Tourist Visa), and all the utility and phone bills in your name for 2 years. FM3 Visas are issued from Mexican Immigration. You can request the forms from Immigration which tells you everything you need to apply for the visa. They usually take 30 to 45 days to obtain, once submitted.

The Mexican Notary - In Mexico, certain attorneys are designated by the government as a Notary, and their services are required for the legal transfer of real estate. They are an unbiased, official representative of the government and have a fiduciary responsibility to both parties and sanctions the contract from a tax and legal point of view.

Property Taxes - Property taxes are very low here. The property tax, known as "predial" is a rate of .08% of the assessed value, paid every bimester. The assessed value is determined at the time of the sale. Historically, property taxes have always been low because they have never been perceived as a source of revenue for the government.How does the Corporation Work? - Ownership of property through a mexican corporation is an interesting and potentially lucrative alternative. First of all, as long as there are two or more parties to the corporation, a Mexican corporation can be wholly owned by foreigners - a Mexican citizen no longer need be part of a Mexican corporation to be valid. Secondly, a mexican corporation can own property outright, eliminating the need for a fideicomiso trust and their respective fees. This means that you, as sole owners of the corporation, own the property essentially in "fee simple," similar to the U.S.

Finally, by establishing the property in a corporation, you can then legally rent out the property, thereby generating attractive income if you are in a prime vacation destination such as Puerto Vallarta. Mexican corporations are set-up similarly to those in the U.S., with by-laws, articles of incorporation and the issuance of stock. You should discuss the pros and cons of forming a Mexican corporation with an attorney in Mexico who is familiar with the process.

Establishing a Mexican corporation for the purpose of purchasing real estate is relatively simple and can be accomplished within 1-2 weeks and generally costs from $1,500 to $2,500 USD, depending on the complexity and number of partners involved.

Resource Box > Merida Realty > www.meridarealty.com

MLS Mexico takes on the sole marketing of EL Molon beachfront land in Mexico

MLS Mexico has signed a deal to market
EL MOLON

Location Between Isla Aquada and Sabancuy Km 62,6 Champeche

Titled property and free to sale

Paperwork have been started for uso de suelo for the whole land 

The lots have Electricity and water

650 hectares (1591 Acres = 69,965,417 ft2)

3075 linear meters sea front (10088 feet) of wide white sandy beach

2100 meters deep to the lagoon in the back (68899 feet)

75 meters (246 ft) - 120 meters (393 ft) deep from the water (highest tide) to the road

Price: 18 450 000 USD 

Lots for sale:

We are going to do lotification of 10 lots with in the next few weeks, it will be from north part of property,as you drive down the coast from Sabancuy.  20 meters (65 ft) beachfront x 2100 meters (6561 ft) deep

75 meters (246 ft) - 120 meters (393 ft) deep from the water (highest tide) to the road

Building permits can not be included as discount.

Cash client gets 10% discount only when buying 2 lots

Financing:

50k down and rest in 4 years 7% interest yearly and if delay in mothly payment comes 12% for monthly payment per week

Selling price 145 000 USD this is price of 5 first smallest lots

Website coming soon EL MOLON