Mexico comes third as one of the largest countries in Latin America. Mexico has a total land area of 761,610 square meters. The country is known for its rich culture, ancient ruins, magnificent beaches, and excellent authentic Mexican cuisine. Therefore, Mexico has a long history of welcoming ex-pats and foreign workers into its rich cultural heritage. The locals and foreigners have various property and real estate options in Mexico that they are allowed to purchase. Houses, apartments, and condos are real estate types that are sold or rented out as places where people are allowed to live. Doing business in Mexico is another reason why people move to the country. Therefore, offices, hotels, and warehouses are for sale too. Buying these properties establishes a business as an investment to generate income. Real Estate prices in Mexico depend on certain factors. Technically, a more extensive property in terms of square meters is likely more expensive than smaller ones. On average, properties for sale in Mexico are around thousands to millions of dollars. However, doing business or purchasing a property in Mexico requires various essential requirements based on Mexico’s law. These rules and regulations are essentially crucial to immigrants, mainly because they are not locals or a citizen of Mexico.
Questions for Property Sale in Mexico
Listed below are the questions for Property in Sale in Mexico.
- What is the average price for Property in Sale in Mexico? The average cost for a property for sale comprises a selling fee, a professional fee, and taxes. The value of the property is affected by its features.
- What are the Property Types for Sale in Mexico? There are various property types found all over Mexico that are available to be purchased by locals and foreigners.
- What are the price factors for Property Sale in Mexico? Rooms and other extra spaces in properties are the factors that impact the value of a property in Mexico. Other factors include location, age of the property, the type of the property, and the view of the property
- What are the Regions, and Cities in Mexico, for Buying a Property? Out of 12 cities in Mexico, certain regions and cities such as Puerto Vallarta, La Paz , Cabo San Lucas and Cancun are great places to buy real estate.
The questions listed above are all essential key points for someone planning to move to Mexico. Although the cost of living in Mexico is lower than in other states, buyers should still consider a budget. Different cities in Mexico have different average standards of living. Therefore, choosing the best place that suits the lifestyle, the purpose, and meets the budget is a great option.
What is the average price for Property Sale in Mexico?
The average price for Property Sale in Mexico is MXN 3,000,000 $149,468, and these costs include a selling fee, a professional fee, and taxes. Selling fees are the seller’s payment to the real estate agent or realtor. Agents are entitled to a 7% to 10% commission on the property sales price. Professional fees are payments for the Notary Public, a Mexican citizen with authority to testify and certify important business and civil documents. Taxes affect the average price of a property in Mexico. Taxes refers to the acquisition tax when buying a property and the annual property tax when the buyer purchases the property. Additionally, the base price of the property is influenced by the features of the property.
What are the Property Types for Sale in Mexico?
Listed below are the Property Types for Sale in Mexico.
- House for Sale in Mexico: House for Sale in Mexico ranges from $39,500 to $19,900. The houses bought are used by individuals as their place where they settle in for good.
- Apartment and Condo for Sale in Mexico: Apartments and Condos for Sale in Mexico range from $42,000 to $10,250,000. Various individuals use apartments and condos depending on their purpose. Some rent out for a short period while looking for a more desirable community to live in. Others rent out to escape the winter in their home country for some time. Apartments and condos are permanent homes for those who wish to settle in the country for longer.
- Offices for Sale in Mexico: Offices for sale in Mexico range from $50,207 to $25,228,249. Firms buy offices to open up their business in the country.
- Warehouse for Sale in Mexico: Warehouse for Sale in Mexico ranges from $97,904 to $1,054,347. Warehouses are used by firms, wherein they make the products and services they will sell.
- Commercial Farming for Sale in Mexico: Commercial Farming for Sale in Mexico ranges from $29,000 to $72,046,000. The lands are purchased to use as a property wherein their crops are planted and harvested.
- Hotels for Sale in Mexico: Mexico is among Latin America’s most developed hospitality markets. Hotels for sale in Mexico cost about $500,000 to $10,350,000.
- New Residential Development for Sale in Mexico: New residential development refers to expanding residentially zoned property. New Residential Development for Sale in Mexico costs around $125,000 to $5,000,000.
1. House for Sale in Mexico
Acquiring a house for sale in Mexico is different in the United States of America. Searching for and buying a home in Mexico is a bit more complicated than in the US. There are reasons buyers should consider before buying a house in Mexico. These reasons are accessible resources, selling platforms, and mortgages. First, in the United States, real estate brokers use Multiple Listing Services (MLS). MLS is a database that provides data about properties for sale. Thus, real estate agents are allowed to see listings of one another. MLS is not available in most regions in Mexico ( Puerto Vallarta and Baja California do use American MLS Platforms), making it harder for buyers to search for properties. Second, there are no widely-used selling platforms that feature curated sets of listings that allow users to set filters based on their preferences, such as the type of property or place. However, an online platform called Mexlife features properties in Mexico, where buyers search for properties. Lastly, mortgages in Mexico are unavailable. Buyers have the option to pay a down payment and pay the remaining fees over the years in the United States. Without a mortgage, those who want to purchase a property in Mexico must pay the total property value in full.
Individuals who want to live in a house in Mexico should consider looking and purchasing one in cities such as Los Cabos, Puerto Vallarta, Nuevo Vallarta, Cancún, Playa del Carmen, La Plaz, Punta Mita, Sayulita, Bucerias, and Tulum. These are the best regions in Mexico to consider when buying a house. Based on Mexlife, the cheapest home in 2022 for sale in Mexico costs around $39,500, which is a 48 square meters house with two bedrooms and a 1-bathroom house in San Vicente Mezcales. The most expensive home for sale in Mexico costs about $8,100,000. It is a 2,538 square meters house with nine bedrooms and a 15-bathroom house in South Shore Boca de Tomatlan. Other than the base fees for the properties, there are other payments that buyers should remember – agency, notary and lawyer, acquisition, registration, and title insurance. In buying a house in Mexico, one should know first if the land of the place where they want to stay is not an ejido land, a land that foreigners are not allowed to buy. Therefore, a foreigner who bought a house situated on an ejido land will risk losing their property ownership. Thus, it is ideal for getting a real estate agent to ensure that buyers follow all the legal processes to acquire a house in Mexico.
2. Apartment and Condo for Sale in Mexico
Apartment and Condo is another property type that is for sale in Mexico. The best places to rent an apartment or condo in Mexico are Cancún, Merida, Playa del Carmen, Tijuana, and Puerto Vallarta. Immigrants or ex-pats that are first-timers, new to the neighborhood such as Sayulita, San Pancho, La Paz, Punta Mita, must consider renting first an apartment or condo for a short time. It means that the individuals are going to sign a short-term contract. Other types of rental agreements are six-month and long-term. However, these contracts are essential for those who are snowbird ex-pats or want to settle down in a place for longer. Snowbird ex-pats reside in a home for months when the weather is warm. They are going to move out to escape winter. Then, they are going to move back again when the season ends. Rent fees in Mexico depend on the neighborhood it is located in, proximity to the city center, subways, beaches, and green areas. Based on Mexlife, the cheapest Condo for Sale in Mexico costs around $42,000. It is a 62.51 square meter condo in Ixtapa Centro with two bedrooms and one bathroom. On the other side of the scale, Mexico’s most expensive Condo for Sale costs around $3,000,000. It is a 1,151.57 square meter condo in South Shore, Lower Conchas Chinas, with five bedrooms and six bathrooms. Based on online sources, renting an apartment, house, or condo in Mexico is more affordable than renting one in the US. The Property Acquisition Tax of foreigners is about 3% of the total property value only. Additionally, when one buys a condo, they have the option to live in it or rent it out to generate extra income. There are just a few requirements that need submission before purchasing an apartment or condo. These are proof of identity, residency, revenue, and a guarantor. A passport or ID card is proof of identity. A foreigner that wants to rent an apartment or condo must have their Multiple Immigration Form (FMM). FMM is a permit given to foreigners that allows them to enter Mexico. Tenants are required to present proof of income, such as a payslip, to ensure that they have the capability to pay the fees. However, a guarantor is needed if one opts for a loan or credit payment to pay for their property.
3. Offices for Sale in Mexico
Commercial spaces such as offices are property types that are for sale in Mexico as well. Based on Tecma, the five best cities to invest in or open an office in Mexico are Chihuahua, Guanajuato, Querétaro, Nuevo León, and Tijuana. Mexico is a great place to open an office, mainly because it houses the most extensive inventory of modern, quality office space in Latin America. In 2012, the country had 3.9 million square meters of office space available. Opening an office in Mexico opens a corporation or a business owner to closer proximity to Mexican consumers, where they are allowed to market their products and services. Based on the Listed Offices for Sale in Mexico, the cheapest one is in Huixquilucan, Mexico City. It is 218.94 square feet of commercial space, costing about $50,207 USD. The most expensive office for sale is at 195 Av. 20 de Noviembre, Ejido del Centro, Mexico City. It is a 134,838.80 square feet office that costs $25,228,249. When opening a firm in Mexico, they must comply with Mexico’s legal and tax issues. It means that when a firm has foreign shareholders or receives foreign investment, it must register with the Foreign Investment Registry.
4. Warehouse for Sale in Mexico
Other than offices, individuals are allowed to turn their bought commercial spaces into warehouses. Acquiring warehouses and other industrial properties is more affordable in Mexico than in the US. The cheapest Warehouse for Sale in Mexico costs around $97,904. The 5,511.12 square feet industrial space in Viveros Xalostoc 12 Primavera 55340 Ecatepec de Mo, Ecatepec de Morelos, Mexico City. The most expensive one costs about $1,054,347. It is a 14,423.64 square feet industrial property in Cancún, Quintana Roo. No data indicate the best places to buy warehouses. However, most of the warehouses for sale are in Mexico City, Centro South, Centro North, and Marina.
5. Commercial Farming for Sale in Mexico
Mexico is one of the cradles of agriculture. Mexico’s agricultural sector is one of the main engines of its rural economy. The country houses different crops, such as corn, tomatoes, vanilla, cocoa, and spices. There are two different types of land in Mexico that are available to be used for commercial farming, private land, and ejido land. Private land is either domestic or foreign land owned by a private entity or an individual. On the other hand, Ejido land is community-owned land. Private land is easier to purchase compared to Ejido land. Ejido lands are not allowed to be bought by foreigners unless a process of separation is followed under agricultural law, after which the land becomes owned privately. It is a long and tedious process that is not recommended, especially for first-timers. Therefore, before acquiring a property, make sure that the property is not ejido land. Otherwise, the entity or individual will risk losing the property. Listed on Mexlife’s Land and Farms for Sale in Mexico, the cheapest land costs around $29,000. It is 126 square meters of land located in Centro South, Buenos Aires. Another land for sale is 2,134.44-square-foot land located in Rosarito Puesta del Sol Bella Vista. It is land used for farm and agriculture. No data indicate the best places to buy land for commercial farming. However, most of the grounds for sale are in South Shore, Mezcles, and Sayulita. Remember that most Ejido lands are in Playa del Carmen, Cancún, Puerto Vallarta, Oaxaca, and Riviera Nayarit.
6. Hotels for Sale in Mexico
Immigrants and other individuals living in Mexico are allowed to open their businesses, such as a hotel. Mexico is the most developed hospitality market in Latin America. Based on research from JJL, the strengths of the industry are exchange rates and an increase in newly-built hotels. In the past years, Mexico has witnessed breaking visitation levels. One has the option to build a new hotel from scratch or buy an existing one on the market listing of Hotels for Sale in Mexico. The most affordable current hotel on the listing costs around $250,000 to $500,000. It is an eco-hotel located in the Yucatán Peninsula, Mexico, and guarantees a million to five USD sales revenue and half a million to $2,500,000 cash flow. On the other hand, the most expensive item on the listing costs about $10,350,000. It is an existing hotel located in Playa del Carmen, Quintana Roo, Mexico. The hotel has 30 rooms, luxury amenities, a luggage room, a beach club, a rooftop with a pool, a restaurant that serves exquisite Mexican cuisine, and a bar. The hotel guarantees to generate half a million dollars for its future buyer in sales revenue and $100,000 to $250,000 in cash flow. No data indicates the best place to purchase a hotel in Mexico. However, most listed hotels are in Quintana Roo and Yucatán.
7. New Residential Development for Sale in Mexico
New residential development refers to the expansion of residentially zoned property. The purpose of the development is to add another unit or lessen it. The teams subjected to development include family unit homes, apartments, condominiums, and suburbs. Sayulita, Nayarit, Mexico, is considered one of the best places to purchase properties for development. The most affordable property for sale costs around $125,000, while the most expensive one is about $2,500,000.
What are the price factors for Property Sale in Mexico?
Price factors both generate positive and negative effects. The effect depends on the purpose of the transaction. Currently, the price factors are favorable for those who want to sell their property because its a “Sellers Market” ( A “seller’s market” favors the sellers, and a “Buyers market” favors the Buyers, this changes according to market sentiment, economies, inflation, prices, supply and demand of properties ). It is because the factors increase the value of the property. Furthermore, the increase in the property’s price harms buyers.
Listed below are the price factors that affect the Property Sale in Mexico.
- Multiple Bedrooms Properties for Sale in Mexico: The price for additional bedrooms ranges from $20,000 to $50,000
- Multiple Bathrooms Properties for Sale in Mexico: Building a new bathroom costs around $5,127 USD.
- Multiple Car Spaces Properties for Sale in Mexico: Around $550 USD to $1,000 USD per square meter is needed to build a driveway.
1. Multiple Bedrooms Properties for Sale in Mexico
Multiple Bedrooms Properties for Sale in Mexico increase the price of a property. The price for additional bedrooms ranges from $20,000 to $50,000. The bigger the size of the room, such as the main bedroom, the higher the property value is. Prices vary depending on the real estate market and the property’s location, and a wiser option is to build a loft room instead of a complete bedroom. A loft room is a raised room featuring a small balcony. Underneath the expanded room is a space used for other room purposes. It is a wiser option mainly because it does not require starting from scratch. The cost per square meter to build a loft room is around $752 to $1,025, cheaper than the $1,435 to $1,680 per square meter of an entire bedroom extension. Therefore, an investor or a buyer must consider this option before buying a property.
2. Multiple Bathrooms Properties for Sale in Mexico
Multiple bathrooms in properties for sale in Mexico affect the property’s value, like additional room extensions. There are different types of bathrooms – full, half, quarter, master, jack-and-jill, split entry, corner, and accessible residential. All of these types of bathrooms differ in their size. On average, a new bathroom costs around $5,127. The standard rule is to have a bathroom in each bedroom when buying a property such as a house. However, it does not necessarily mean having a full bathroom each. Half bathrooms are great cost-effective options than having all bathrooms full.
3. Multiple Car Spaces Properties for Sale in Mexico
Multiple Car Spaces Properties for Sale in Mexico add value or increase the property’s price. According to sources, driveways, and garages are expensive. The value of the property rises from around 5% to 10%. Building a driveway costs approximately $34 to $102 per square meter. Families looking for a property are likely to buy a property with a garage, given that they have a car. However, individuals that do not drive should look for properties that do not have garages and driveways to save money.
What are the Regions, and Cities in Mexico, for Buying a Property?
Listed below are the regions and cities in Mexico when buying a property.
- Puerto Vallarta Property Sale: Puerto Vallarta is a beach resort town in Mexico. Puerto Vallarta is considered one of Mexico’s best places to buy real estate.
- Tijuana Property Sale: Tijuana is a city in the northwestern part of Mexico. Tijuana is one of the cities with a lower cost of living.
- Ecatepec Property Sale: Ecatepec is considered one of the deadliest places in Mexico. Ecatepec is an industrial city in Mexico where warehouses are prominent.
- Guadalajara Property Sale: Guadalajara is the capital and second-largest city of Mexico. Guadalajara is the cultural center of Mexico, considered by most to be the home of mariachi music.
- Puebla Property Sale: Puebla is the fourth-largest city in Mexico. Puebla is known for its history, tradition, art, architecture, and traditional flavors.
- Cuernavaca Property Sale: Cuernavaca is the lavish capital of Mexico. Cuernavaca is known for its outstanding universities, wherein international students even attend to study the Spanish language.
- Chihuahua Property Sale: Chihuahua is the largest city in Mexico. Chihuahua is full of immense natural wealth, including deserts, mountains, and plains.
- Monterrey Property Sale: Monterrey is the third-largest city in Mexico. Monterrey is northern Mexico’s modern-day commercial and industrial powerhouse, educational, and transportation hub.
- Torreón Property Sale: Torreón is the hidden gem of Mexico. Torreón is one of northern Mexico’s leading manufacturing, services, and commercial agriculture centers.
1. Puerto Vallarta Property Sale
Puerto Vallarta was a beach resort town in Mexico with a record 291,839 inhabitants in 2020. Statistics show that about 50.1% of men and 49.9% of women live in the city. Puerto Vallarta is considered one of Mexico’s best places to buy real estate. Puerto Vallarta has been dubbed “the most Mexican beach destination” because of its various gorgeous coves and beaches. Puerto Vallarta Real Estate comprises high-end villas and condos built on the hillside with some of the grandest views of the bay and features Renaissance-style and colorful colonial architecture. Almost all the tourist activity happens in Puerto Vallarta. It is the most popular zone for ex-pats to purchase property. Apartments and condos for rent are the most popular real estate in Puerto Vallarta. Some rentals offer a flat monthly rate for a one-year lease. Others offer six-month rates for either the high or low season. A condo in the city costs about US$750 to US$1,500 a month on a one-year lease. Buyers must face acquisition taxes, foreign affairs permits, local transfers, property tax certificates, and public registry fees.
2. Tijuana Property Sale
Tijuana is a city in the northwestern part of Mexico. According to statistics, Tijuana has a record of 2,221,000 people living in the town in 2022. House prices in Mexico are incredibly affordable compared to other similar places. It is going to reduce the cost of living by 150% approximately. Tijuana is one of the cities with a lower cost of living. The city is where warehouses produce food products, sodas, and liquors. Additionally, the city houses various farmlands that people are available to purchase to cultivate plants and crops. Condos are another Tijuana Real Estate property that is prevalent. A 3-bedroom and 4-bathroom condo in Tijuana costs around $205,000. It is a 1,873-square-foot 2-levels condo that features Terrace, Balcony, and two parking spaces.
3. Ecatepec Property Sale
Ecatepec is considered one of the deadliest places in Mexico, especially for women. Murder, kidnapping, mugging, and carjacking are prominent in the Ecatepec. According to local police, they always have at least one female murder victim daily. Despite its image as the “most dangerous city in Mexico,” it is the second-most-populated city in Mexico, with 1,645,000 people living in it. Still, numerous immigrants have considered living in the city. According to statistics, 1,367 people from different places have moved to Ecatepec. It is a great place to work in various industries, such as retail, manufacturing, wholesale trade, and government. Furthermore, the cost of living in Ecatepec is low, at only spending $752. Since the city is more on the industrial side, warehouses are prevalent in the listing of Ecatepec Real Estate besides houses and apartments.
4. Guadalajara Property Sale
Guadalajara is the capital and second-largest city in Mexico. The city is named after the Spanish city of Guadalajara, meaning “valley of stones.” Guadalajara is the cultural center of Mexico, considered by most to be the home of mariachi music. In the city, there are various widespread cultural events such as other renowned cultural events such as film festivals. Besides that, the city is known as “Silicon Valley” mainly because technology companies like Intel, IBM, and Oracle are there. According to recorded statistics for 2020, the population in the city is 1,385,629. The city is an excellent place to live. The status of the economy there is vital as well. The town is very welcoming to immigrants. Guadalajara Real Estate, such as houses, are deemed to have reasonable pricing, thus giving off a high cost of living.
5. Puebla Property Sale
Puebla, known as Puebla de Zaragoza, is the fourth-largest city in Mexico. Puebla is known for its history, tradition, art, architecture, and traditional flavors. The architecture in the town exhibits styles from Baroque, Renaissance, and Classical. The city of Puebla has a total of 3,295,000 people living in it, based on the 2022 census. One of the famous Puebla Real Estates where people are allowed to stay in is an apartment.The cost of living in the city is low, mainly because the cheapest monthly rent costs around $500. Even the food in the city only costs about $3 to $40. The estimated cost of living for two individuals is about $1,586 per month.
6. Cuernavaca Property Sale
Cuernavaca is the lavish capital of Mexico. Cuernavaca is known as the “City of Eternal Spring” mainly because of its mild climate and abundant plants found in the various parks and gardens. Additionally, the city is known for its outstanding universities, wherein international students even attend to study Spanish. Furthermore, there are many fine restaurants in town if one looks forward to tasting authentic Mexican cuisine. Cuernavaca’s economy depends on a mixture of services and manufacturing. There are a total of 1,107,000 people currently living in the city, based on the 2022 census. Like any other city in Mexico, the cost of living in Cuernavaca is low. An estimated living cost for someone in the town is around $1,500 per month. The two most popular Cuernavaca Real Estate options to live in are houses and apartments.
7. Chihuahua Property Sale
Chihuahua, occupying 13% of total land space, is the largest city in Mexico. Chihuahua is known for its beauty and attractions. The city is full of immense natural wealth, including deserts, mountains, and plains. Additionally, the city has historic buildings such as Catedral de Chihuahua, La Quinta Gameros, and Palacio de Gobierno. Furthermore, there are places in the city ideal for mountain biking, climbing, and camping. There are a total of 1,096,000 people that are currently living in the city. One of the most prominent Chihuahua Real Estate is a house. The estimated average cost of living for an individual in Chihuahua is around $691.
8. Monterrey Property Sale
Monterrey is the third-largest city in Mexico which features a modern-day commercial and industrial powerhouse, educational, and transportation hub of northern Mexico. Monterrey is like the New York City of Mexico’s fast-paced lifestyle and environment. Thus, it is one of the most Americanized cities in Mexico. The city houses world-class museums and a jagged mountain backdrop that offers terrific outdoor adventure sports, the city’s attractions are diverse and myriad. The city has the highest quality yet cheapest meats on the market. Family-owned restaurants serve the best authentic cuisines in the city. The average monthly rent in the city costs about $300. The rent fees increase as the property gets closer to the city center. An apartment with three bedrooms in the city center will cost at least $700. With other fees, the estimated average cost of living for someone living in Monterrey is around $600. Currently, there are a total of 5,037,000 people living in Monterrey. Houses are the most prevalent Monterrey Real Estate where people choose to live.
9. Torreón Property Sale
Torreón, dubbed “The City of Great Efforts,” is the hidden gem of Mexico. Torreón exhibits historical and modern architecture, which houses various Catholic churches and Mosques. It is one of northern Mexico’s leading manufacturing, services, and commercial agriculture centers. Multiple people from China, Palestine, Syria, France, and the United States have decided to move into the city throughout the years. In the 2020 census, the city had a population record of 720,848, 48.8% of which were men, while the remaining percentage were women. The city’s primary industries are retail, farming, manufacturing, and ranching. Additionally, the city offers excellent schools and universities. Therefore, Torreón is an exceptional place to live and raise a family. One person’s average living cost in Torreón is around $577 USD. Thus, it is among the least expensive cities in the world to live in. Houses are the most listed in Torreón Real Estate as a property.
Reviews About Mexico Property Sales
A 41-year-old freelance publicist named Michael Ellis moved to a three-bedroom house in Tijuana in 2018. Before in San Diego, Ellis stayed in a one-bedroom only. Now, the three-bedroom in Tijuana allows Ellis to earn extra income by living in the house and renting out one of the rooms as well. Ellis collects $500 for the monthly rent of one of the rooms and pays a total of $1,200 a month for the whole rent of the three-bedroom house. According to Ellis, moving to Tijuana is a better financial option than the one-bedroom house in San Diego. There is no information on how much Ellis spent living in San Diego, but according to Ellis, San Diego is out of reach. Tijuana allowed Ellis to earn extra income while having the capability to travel. Ellis is looking forward to buying an additional home in Mexico that will turn into an Airbnb for another source of income.
Another person living in Mexico, Diana Flowers, posted a blog about the experience of living in Mexico. The country is a popular place to migrate to for immigrants like Diana. The cost of living is cheaper, yet the quality of life is much better. One reason why the quality of life is a lot better is that an immigrant working in Mexico is automatically entitled to health insurance that the employer and the contributions of the employee cover. Besides that, the country is an enjoyable and vibrant country that people are going to enjoy because of its rich and varied culture.
How to Buy a Property in Mexico?
Specific steps are needed when considering buying a property in Mexico. These steps are guidelines on How to Buy a Property in Mexico. First, research regarding the different cities in Mexico. Mexico has a total of 12 cities. Determine the most appropriate and desired city to reside. Second, head over to an online selling platform like Mexlife. Once the buyer picks a town, a real estate online selling platform is a great way to search for properties in a specific city. Additionally, platforms like Mexlife offer filters, allowing buyers to further narrow their search by customizing it. Users have the option to indicate what type of property, number of rooms, bathrooms, and price range they are searching for. Third, contact a real estate agent once the preferred property is selected. Fourth, make an offer on how much the desired property price is going to the budget. Fifth, sign a sales contract or the initial sales agreement. A buyer needs to prepare a 5% – 10% of the property value as a payment deposit. Sixth, acquire permission to complete the purchase from the Foreign Secretary’s Office. It states that the buyer allows Mexican law, and only Mexican rule, to govern the overall property transaction. Seventh, get the property’s official valuation and title review by obtaining a notarized document for tax purposes. Eight, sign the escritura, or the title of deeds, and pay the closing fees. Lastly, pay other expenses such as tax, collection, and property registration to continue with the final roster and to pay for the closing costs. Closing costs are the last step, mainly because it is the step that finalizes the transaction.
