6 tips to buy real estate in Mexico for foreigners
Full of undiscovered places and spectacular scenery, Mexico is every buyer´s dream. From breathtaking colonial towns and untouched beaches to the great Mexico City, every corner holds an attraction and an opportunity to invest.
However, foreigners may find they need certain guidance when they decide to purchase real estate in Mexico.
If this is the case, here are some tips from Tracer Mexico to bring you closer to acquiring your new home in Mexico:
Whether you´re interested in a house, an office, or a ranch, these tips will be useful for all real estate transactions.
By law, foreigners may purchase property. However, they must first agree "to consider themselves as nationals with respect to said goods and not to invoke the protection of their governments for the same reason".
Some areas are restricted.If the property is on the beach or at the border, we suggest you review the issue carefully.If the property is within 100 kilometers of a land border or within 50 kilometers of a beach, the acquisition must be made through a bank trust or a company.
Even if you aren´t buying in a restricted area, you must still ask for the corresponding permit. This can be done through a representative.
All acts related to the purchase of your property as a foreigner can be done using a power of attorney.
Check the legal background of the property and care for who will advise you legally.