Multi Purpose
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FAQS
Can foreigners buy property in Mexico, especially near the beach?
Yes, foreigners can buy property in Mexico, including in coastal areas. However, within the restricted zone (50 km from the coast or 100 km from the border), foreigners must use a bank trust, called a fideicomiso, or set up a Mexican corporation to hold the title.
What are the closing costs when buying property in Mexico?
Closing costs in Mexico are typically higher than in the U.S. or Canada, ranging from 5% to 10% of the purchase price. These include notary fees, transfer taxes, bank trust setup (if applicable), and other administrative fees.
How safe is it to invest in Mexican real estate?
With the proper due diligence and a trustworthy real estate agent, investing in Mexico is safe. It’s essential to work with professionals who understand local laws and can guide you through the process.
Are there property taxes and ongoing fees in Mexico?
Property taxes in Mexico, called predial, are relatively low compared to Canada and the U.S. If you’re in a coastal area using a bank trust, you’ll also pay an annual fee for its maintenance. Book a call
Can I get financing for a property in Mexico?
Financing options are limited for foreigners. Some Mexican banks offer mortgages to foreign buyers, but most buyers choose to purchase in cash or secure financing through their home country if possible.
