Ever thought of buying real estate in Mexico, having
your own beach property in Nuevo Vallarta, 10 minutes
North of Puerto Vallarta?
Buying a retirement or vacation home in Puerto
Vallarta, the best investment!
Mexico’s close proximity to the US is a great benefit
to US-citizens who own real estate or a beach property
in Nuevo Vallarta, 10 minutes North of Puerto Vallarta, Mexico.
The low cost of living, availability of quality resort home and lower
prices compared to the US, wonderful weather conditions and great
medical facilities make living in the Puerto Vallarta area extremely
attractive.
Puerto Vallarta’s international airport features many direct flights to and from
all major North American cities daily.
What types of real estate or beach property
ownership can a foreigner have and what is the acquisition
process?
Residential properties located within costal areas are acquired through a Mexican Bank Trust called a Fideicomiso.
The bank serves a trustee which holds the title to the property for 50 years. The cost for the permit to establish a bank
trust is less than $1000 USD. To purchase through a Fideicomiso, a foreigner must hire a ‘Notario’ (a governor appointed attorney)
who will prepare the deed based on the instructions from the trustee bank.
Applicable taxes are paid (2% of purchase price), and then the deed is recorded in the local municipality.
The foreigner, as a beneficiary of the Fideicomiso, has the right to use, improve, lease, sell, mortgage
and will the property. A second beneficiary to the trust can be named on a Fideicomiso to avoid probate.
Upon expiration, a Fideicomiso may be extended indefinitely in 50-year periods. After 100 years, the property remains yours,
but a new trust must be created.
What type of real estate financing is available in Mexico?
In Mexico, most residential real estate and beach properties are purchased
on cash basis.
Financing of homes in Mexico has been customarily done through a home equity loan on a U.S. buyer’s primary residence.
Mexican banks and finance companies have begun to offer loans to foreigners. U.S.-base mortgage companies are
offering long term, fixed rate financing with as little as 20 to 30% down.
Construction Loan Programs Available
- Interest Only Loan during construction. Converts to permanent financing.
- Minimum loan amount of $500,000
- Maximum loan to value 65%
Advanced Mortgage In Mexico (see our page financing) has a successful track
record of closing loans in Mexico.
You can feel secure when trusting your loan to our experienced team. We have the know how to get your loan closed in this
new and exciting market.
* APR of 9.85%
** The above is provided as general information.
As laws are subject to change and not all details can possibly be mentioned in this page.
We recommend that you seek legal and tax advice from a qualified professional.
Do you have any questions, or do you want more info on
our villas and houses for sale, our rentals or real estate?
Call our tollfree number (1 800 940 7512) or fill in the form on our page contact and you will be contacted soon.
top
|
