Puerto Vallarta Real Estate Articles

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Check list of things to understand before you buy real estate in Mexico.
By Harriet Murray
November 29, 2003

You need to ask questions and think through what you are going to do before you take the plunge. You will be much happier later if you do your homework.

What is the restricted zone and how can foreigners buy within this zone?
Who is a fiduciary and what does that mean?
What do I what to know about agents before working with one?
Is licensing required of agents?
Is there a code of ethics they operate by?
What laws are agents and sellers bound by?
Who is a buyer’s agent?
Who is a dual agent?
Who is a listing agent?
What does an exclusive listing mean in Mexico?
What should I understand about a conflict of interest?
Do I need to understand Spanish?
Is there financing available?
What are costs associated with a purchase?
What are costs associated with a sale?
Who is a notary and what is his function?
Do I need an attorney to assist me in a real estate transaction?
Is there an inspection company that I can hire?
How is “as is” of purchased property handled in this market?
Does capital gains tax apply in the sale of a Mexican property?
What is Hacienda and are they involved in a real estate transaction?
Will I need an appraisal?
Will I need a survey?
How do I know what the realistic sales price should be, whether I am the seller or the purchaser?
Should I submit a written offer?
How do leases work in Mexico”
What taxes do I owe if I own or rent in Mexico?
How does inheritance of property work here?}
How do the purchase funds get sent and paid to the seller?
Who do I trust?
What have I forgotten to ask?

This article is based upon legal opinions, current practices and my personal experiences in the Puerto Vallarta-Bahia de Banderas areas. I recommend that each potential buyer conduct his own due diligence and review.

Harriet Murray

Sources for this article are from Robert Million “Zapata—The Ideology of a Peasant Revoluntionary”; Roger Parkinson, “Zapata”, and John Womack, “Zapata and the Mexican Revolution”