Are you planning on purchasing a property in Mexico?
We´ve compiled the following information to educate and guide you through obtaining a mortgage and purchasing property in Mexico.
Deed expenses
Please contact your CBI representative for an up to date break down of the fees involved with your transaction. They will usually include:
Notary fees.
Taxes, Certificates and Registration Fees.
Trust permit and trust bank commissions.
Escrow fees.
Lender fees (if purchasing with a mortgage).
Broker fees (if purchasing with a mortgage).
What are some of the differences when buying property in Mexico compared to the US or Canada?
DocuSign is not valid in México. You need to print, sign and scan the documents that require signatures.
Deed expenses (closing costs) are higher in México. However, the annual cost to maintain your property in México is significantly lower than it would be in the US or Canada.
There are no licenses for mortgage brokers (or real estate agents). There are associations of which the most prestigious real estate and mortgage agents are members. These associations regulate their members.
All legal documentation will be written in Spanish.
The business culture is different in México. CBI represents the perfect combination of what is expected in the US and Canada and what is practiced in México.