Tourism and Second Home

For foreign people that are thinking of buying a second residence in Mexico for the first time, here are some legal considerations to keep in mind before you sign a contract and execute your closing:

1. You must decide if your payment will be cash or credit taking in consideration your real budget.
2. f you are buying with credit, check with your bank and with us what financial institutions lend to foreigners. Cash transactions are easier but it’s important to contemplate an Escrow account as the best option to disburse the payments in the transaction.
3.  A Title Investigation over the land and then a Title Insurance will be fundamental in order to have legal and economical guarantee in your investment in case of claim.
4. If you are acquiring in restricted zone, you will need a Trust (Fideicomiso) that is the authorized form by the Mexican Government to acquire realty by Foreigners in Mexico.
5. The acquisition contract must be signed in front of a Notary Public (lawyer authorized by the Mexican Government that certifies and execute Real Estate transactions). The result is a Public Instrument that must be recorded at the Public Registry.
6. The last step is to track the recordation of the Public Instrument and in consequence the issuance of the Title Insurance Policy.

Srategical will help to do this process easy for you, explaining and advising step by step the best form to handle the closing of your acquisition with the main purpose of secure your Real Estate investment. *

Other services that we provide in the Tourism and Second home market.

• Timeshare document verification and closing.
• Trust (Fideicomiso).
• Assignment of Rights.
• Promissory notes.
• Purchase and sale agreements.
• Fractional ownership.
• Title examinations and title reports.
• Legal Representation.
• Escrow accounts.
• Notary Public procedures.
• Different types of Insurance.
• Ejido legal opinions.
• Correspondents for Foreign Law Firms.
• Appraisals.

*Our webpage provides information of a general nature. Please contact us in order to advise you with specific terms adjusted to your Real Estate transaction.