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Buying / Selling Property in Mexico

Discussion in 'BBS Hangout' started by LongTimeFan, Jan 10, 2019.

  1. LongTimeFan

    LongTimeFan Member

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    Has anyone bought or sold property in Mexico recently?

    I have a family member who asked for some guidance on them selling their condo in Cancun. I am not familiar with transactions in foreign countries, but I suspect a member or two here might have some knowledge about them.

    From what I understand there are some quirks to it -- and there are no title companies there to make the process easy. Before someone asks, this is being sold to a Buyer who used to rent the property, so no agent involved.
     
    #1 LongTimeFan, Jan 10, 2019
  2. The Law

    The Law Member

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    It is my understanding that you cannot actually own a Mexican property as an American if it is in a restricted zone, which Cancun is being within 50km of the water.

    It actually has to be brokered into a Real Estate Trust to hold the title for the buyer. Typically these trusts have to be renewed every 30-50 years.
     
    #2 The Law, Jan 11, 2019
  3. peleincubus

    peleincubus Member

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    I have a close family member that owns a few hotels on the beach 40 minutes from Cancun. I’ve heard a few crazy stories about payoffs that had to be made to get certain things done. It sounded like a huge headache.
     
    #3 peleincubus, Jan 11, 2019
  4. heypartner

    heypartner Member

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    My dog does the same thing. Won't even sit down unless I give her a bribe.
     
    #4 heypartner, Jan 11, 2019
    Os Trigonum likes this.
  5. Os Trigonum

    Os Trigonum Okogie Only Fan
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    have you tried an e-collar? ;)
     
    #5 Os Trigonum, Jan 11, 2019
  6. cheke64

    cheke64 Member

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    That's a bad perro.
     
    #6 cheke64, Jan 11, 2019
  7. REEKO_HTOWN

    REEKO_HTOWN I'm Rich Biiiiaaatch!

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    Yeah if you're doing business in the Americas expect to bribe people. That's just how it works.
     
    #7 REEKO_HTOWN, Jan 11, 2019
  8. peleincubus

    peleincubus Member

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    You do things for treats too.
     
    #8 peleincubus, Jan 11, 2019
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