The process of buying a home here in the greater Puerto Vallarta area isn’t dramatically different from purchasing a home in the United States or Canada, but there are a few minor differences worth knowing. We have a team of highly specialized real estate agents that are ready to assist you with all you need to get that perfect home.
The Multi-List System used in Mexico works similar to the ones used in other countries like USA and Canada. Below is the step by step process that you will take when you decide to purchase a property in Mexico:
Step One: Finding a Property
Listed properties will be scoped out by agents and their agencies to ensure that all is well with the deed and that there is nothing that could hinder closing. These checks also verify if the seller is legit to sell the property and that any mortgages or trusts have also been disclosed.
Step Two: The Documentation Process
Once an offer is made on a Mexico home, it will undergo an inspection and the prospective buyer will review HOA documentation such as financial details, by-laws, annual meeting notes and more.
Step Three: The Money Transaction
The offer will also have information regarding the acknowledgment of any legal issues related to the property and staff. The next step will happen after the offer or counteroffer is accepted and it’s during this time that money exchanges will take place.
Step Four: Signing the Agreements
The agent you’re dealing with will also accompany you or your power of attorney to the closing. At the Notaria’s office which is the same as the notary public in USA, both the buyer and the seller will sign the agreement after the closing coordinator reviews the deed with the buyer.
Step Five: Registration
The registration process takes a few months to complete and once the Bank Trust Officers and the Notaria sign the documentation, the Notaria will send the deed to officially register the buyer as the owner.
These are the basic steps you will take when buying a home in Mexico. We strongly recommend that you use a trusted AMPI (Asociacion Mexicana de Profesionales Inmobiliarios) or in English “Professional Real Estate Association in Mexico”.
Are you thinking of purchasing property in Mexico? Ron Morgan Properties is a reputable and experienced full-service, innovative company, which is essential when buying property. We’re here to help you find your new or second home, your best rental options, or your perfect office space in one of the most beautiful Bays in the world! So get in touch with us at Ron Morgan Properties and let us help you find clarity and make the best choice amongst the homes for sale in Mexico.