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Mexico Real Estate

The following outlines what you can normally expect in a traditional buying process in Mexico and, specifically, Puerto Vallarta.

The Players

Your transaction team supporting each phase of the process from both the Buyer and Seller side consists of:


  • Closing Buyer’s Real Estate
  • Agent (the Julie Guerrero Real Estate Group)
  • Seller’s Real Estate Agent (Listing Agent)
  • Notary
  • Transaction Coordinator (Real Estate Attorney who has been selected and appointed by the Mexican state.)
  • The Julie Guerrero Real Estate Group Transaction Coordinator

How We Make It Easier For You

A commercial/residential/land purchase can be a daunting process anywhere in the world. Foreign investment in Mexico continues to enjoy an upward trend with Puerto Vallarta currently being one of the fastest-growing real estate markets in the country. An international real estate transaction, i.e., a person whose primary residence is outside Mexico purchasing real estate in Mexico, adds other considerations to an already exciting and stressful process. The following outlines what you can normally expect in a traditional buying process in Mexico and, specifically, Puerto Vallarta. While sharing some characteristics of the buying/selling process in the U.S. or Canada, the laws governing real estate purchase in the state of Jalisco by non-residents includes processes that do not exist in the U.S. or Canada. As your trusted advisors in Vallarta, the Julie Guerrero Real Estate Group, a member of AMPI (Asociación Mexicana de Profesionales Inmobiliarios) commits to a thorough consultation with you at the onset. We employ a holistic approach to define what strategy best serves your vision and needs. Powered by Keller Williams Realty, the #1 Real Estate Company in the world, the Julie Guerrero Real Estate Group has a global reach with local expertise.
Your Financial Set Point
This first-step actually involves multiple actions. It helps you assess the price maximum for which you are financially qualified and will lead us in focusing your search criteria based on price as one of the factors. Most of our buying clients are not buying their first property. Experienced and savvy investors know what loan products are available in their primary-residence country based on home equity, personal retirement accounts, and other financial assets. There are mortgage loans now available in Mexico for non-Mexico residents purchasing residential property. We direct you to our preferred providers for mortgage loans in Mexico should you want to consider a Mexican mortgage.
The Home Search Begins!
Once you have determined your financial parameters, finding the perfect match between you and your dream investment means getting to know you, your vision, what makes you happy, and how you see your future in Puerto Vallarta. Commercial? Land? Rental income? Retirement home? Second home? Every situation is different. For residential investments, since lock boxes are not used in Puerto Vallarta, the showing process depends on coordinating three schedules: the listing agent, the buyer’s agent, the potential buyer. In light of the scheduling process, we need a minimum of 24-48 hours to schedule residential viewings, depending on the property. For commercial and land investments, we have real estate attorneys that serve as our preferred providers to provide expertise on the legal requirements of the purchase.

Comparative Market Analysis (Comps)

Once we find the investment that meets your specifications, we will thoroughly review the commercial value and help you determine a fair offer price. We provide comparative market analyses through the only Multiple Listings Service available in the states of Jalisco/Nayarit, in addition to providing on-the-ground observations.

Making the Offer

All legal documentation in Mexico is written in the official language of the country: Spanish. The Offer, any Counter-Offers, and Addendums are written in a two-column format, with a courtesy English translation provided. Electronic signatures are accepted through digital platforms, e.g., Docusign, to streamline the process. Original signatures are obtained thereafter. For legal effects, the Spanish versions prevail. Once an offer is accepted, an escrow account is opened in the U.S. to accept the guaranty deposit for the transaction. We use a standard paragraph in our Offers indicating that there will be “automatic 30-day extensions to the closing date should that date need to be extended due to bureaucratic delays.” One of the primary reasons for a delay in closing is the length of time required to release an existing bank trust. It is beyond either the Listing Agent’s or Buying Agent’s control to obligate the bank’s response.

Due Diligence


Once an offer is accepted and the guaranty deposit has been confirmed, the due diligence portion of the process begins. Depending on the size and scope of the transaction, the legal requirements will include, but not be limited to, the evaluation of the state of the property, inspection of the property, and evaluation of the bank trust1. Any issues arising during this phase will be resolved between Buyer and Seller in order to proceed with the transaction.

Escrow

Closing


A closing date and time is scheduled when:

  • The due diligence has been completed to the Buyer’s and Seller’s satisfaction

  • The Trust Bank documents are complete

  • The Power of Attorney is defined should the Buyer and/or Seller elect not to be present for the formalization date, i.e., closing,

Final closing costs and the balance of the purchase price of the property are deposited into the escrow account no later than the business day prior to the scheduled closing date.

Post Closing


The Julie Guerrero Real Estate Group continues to work with you through your transition to Puerto Vallarta residents. From ensuring your original property title is delivered within 90 days, facilitating the change of utilities services accounts, to the seamless transition to rental property infrastructure, we continue to work with you beyond the closing.

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