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How does the purchasing process work for real estate transactions in Mexico?

How does the purchasing process work for real estate transactions in Mexico?

26 June, 2024
erick

The typical process of buying property in Mexico involves several key stages to ensure a smooth transaction. Buyers make formal offers using an “Offer to Acquire” and engage an Escrow Agent. A due diligence period of up to 14 days allows for property examination such as no liens, utilities and taxes up to date, property inspections, HOA review (if applicable).

After resolving any concerns, the contingencies will be removed and then earnest money (or good faith money), which represents 10% of purchase price should be deposit on Escrow (also an Escrow fee is involved on this stage) and the sale goes hard and the deposit will become non refundable.

The process to create a trust or assume the trust  and the title transfer takes up to 45 days, ensuring legality. Closing, typically within 15 days, finalizes the sale, and buyers receive the deed post-closing. 

Professional assistance ensures a successful acquisition and legal certainty.