Mexico conditions for the purchase of real estate for foreigners.
The country where the cactus is not in the flowerpot, where the tequila flows with the river, where the cuisine is spicy and sharp – fachitos, burrito, salsa, where the indigenous settlers of the Aztec and Maya, the country in question, is mysterious and colorful – this is Mexico. Or rather, we will talk about real estate in Mexico, which is now of great interest.
Those who are thinking about buying real estate in Mexico, you need to know: the country is spoken in Spanish, enjoy the Mexican peso. The largest cities are Monterrey, Mexico City, Pueblo and Guadalajara. The average temperature per year is about + 30 � C. And most importantly, what you should know about this country when buying real estate, here is the most developed economy in Latin America, it extracts gas and iron ore, here they are engaged in logging, shrimp fishing. And of course, the direction that is developing rapidly is tourism.
To date, it is considered quite profitable investment – the purchase of real estate in Mexico, because the legislation was amended, and now it is much easier for citizens of other countries to buy housing in Mexico. Earlier you could buy a home 100 kilometers from the border or 50 kilometers from the coast, now it is possible to bypass the law on the basis of the law. For example, formalize as a legal entity of Mexico or through trusts. And immediately a pleasant bonus: when buying a property you will have visa privileges.
At the moment, the main buyers are residents of Canada and the United States. The premises in Mexico can be chosen according to their parameters, area, price policy and atmosphere, both in rural areas and in the city center and, of course, on the seashore. If you buy housing in the coastal zone and formalize a legal entity, you can work with the “Mexican corporation”. For this type of operation, you need to have an account with the bank, show that you are financially stable, file your address in the accounting department, and also the amount of $ 2,000. In this case, you need to submit annual reports and pay taxes. Remember: in every law there is a loophole, here you can use the “sleep status”, if at that moment your company does not work. The second option, which we will discuss, is buying through the land trust, contact the bank that you either trust, or it is well known. At the same time, you should know about one thing: real estate will be recorded on the land trust, but you will remain the owner. In such cases, your spending will grow by about $ 1,000 and will be about $ 3,000, plus a bank annual payment of about $ 500. At this the nuances do not end, be prepared that when selling you need to pay a tax of 5%.
If we talk about buying a home outside these two areas, then everything is much simpler and will take quite a bit of time – about 2-3 weeks. Before you make a purchase agreement, you will pay an advance payment of 10% of the price of housing. Once all the documents are completed, you pay the full amount, and the housing is transferred to your full use.
When the real price and the official price go, you will come across another nuance of buying real estate. Most likely, the reason for such a difference in price is made in order not to pay the entire income tax. The amount that you pay to the bank will be less than the one you pay in your hands. Of course, it immediately becomes clear that the transaction of such a plan is not legal, and after it you will not be able to sell the same real estate, as you will have to pay tax on the previously hidden amount. That’s why pay attention to real estate, which was not previously sold, yet honesty in the laws brings less waste in the end than you might err.
So, remember the basic rules of the game:
1. A trade agent must be an expert, with an international status and a license.
2. Mexicans are ordinary people and sellers, so bargain.
3. Study the prices on the market very carefully and carefully, or use the services of an appraiser for a percentage of the purchase.
4. Everything that you agree on must be documented.
5. The land on which your property is located should not be communal and belong to the seller.
6. Housing must be built according to all standards and laws of Mexico.
Prices in Mexico depend, of course, on the location of the facility and on the infrastructure that surrounds it. You can buy a house for $ 20,000 and go to the sea, and you can spend 100,000 or more dollars and enjoy all the amenities on the shore of this stunningly beautiful country.
I want to appeal to people who are more comfortable to take loans for one reason or another. Credit issues are not very developed in Mexico, you will be drowning in the routine of the required documents from the bank, which will test your ability to pay it. However, do not forget that in Mexico there are banks in the US and Canada, who will gladly help you for a small percentage of the year. Good luck shopping with you!
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