Owning property in Mexico
 

We are thinking of buying a condo near La Paz for an investment and possible retirement. Any suggestions on what to know before we buy? Also I heard that you only lease the land in Mexico? Is that a problem? Everything sounds good but I want to know if there are any hidden things I should be aware of in Mexico.

I know this has been discussed at length on locogringo.com. Do a search on their site and you should get some good stuff. Or go to member's list and click on "Sherry". I remember she had done a lot of research.

Here's something a bit more direct; although it's "owning in Tulum". You may find it useful for info gathering.

http://www.locogringo.com/forums/tm....key=&#5212

This is a fairly comprehensive site
www.mexonline.com/propmex.htm
It explains the "restricted zones" and the trust arrangements for land ownership by foreigners.
Away from the coasts and borders, land ownership is "fee simple" just like the in US.
We have found that as a buyer dealing with more than a few local real estate agents gets the best "inventory" as there is little multiple listing and the agents don't want to share (not great as a seller).
The buyer may choose the Notary who charges maybe $300. USD plus about 1.6% of the purchase price and the Notary can do your Mexican will(s) as well - don't ignore a MX will.
You'll eventually want to get FM 3 Visas which permit each holder to take a car and household goods to MX duty free within 6 months of issue (with a few restrictions on electronics and alcoholic beverages).
M

Thanks for the great leads.

Por nada.
M