Americans dream of buying property in Mexico and they need to learn the differences in real estate systems compared that of the United States. The way United States sell real estate is essentially the same with Mexico but it would be a folly to assume that both systems are the same. There are facets that make the two systems stark different. You need to be away about these differences before you go on buy a real estate.
Unlike in the United States, any person can sell Riviera Maya Tulum Condos for Sale even without a real estate license in Mexico. This is in stark contrast in the US where a person that engages in buying and selling property needs to get trained and licensed first. Anybody in Mexico regardless of real estate knowledge can sell a piece of property. Foreigners often become victims of fraud because of their lack of understanding and knowledge of local laws. Even legit sellers that are honestly selling properties may not be aware about the local policies such as zoning, transfer of title and mandates on foreign ownership. In order to avoid headaches and fraud, you need to deal with a reputable Mexico Real Estate agency that knows how to get your property the legal way.
Mexico does not allow foreigners to own property on the restricted zone. The law says that foreigners cannot buy property that is found within 50 km of the coastline and 100 km along the country’s border. There are ways that foreigners to get property near the coastline without getting into trouble as it is the policy of Mexico to welcome foreign investments. One way to do this is for the foreigner to make a Mexican corporation and wholly own it and have the corporation buy the property. For the latest news about real estate, visit http://www.huffingtonpost.com/news/real-estate/.
Agents that are engaged in Yucatan real estate for sale can also help you with some financing. Locals do not get much help from Mexican banks to build homes. American banks invest on the locals and often provide nice loans for home building Normally, Americans that want to buy property need to pay in full and in cash. Luckily, you can tap American banks for financing brought about the reforms in the real estate sector. One can get construction loans with US banks. There are banks that are willing to write loans for second and third homes in Mexico. Some banks do write loans for primary residence and investments. This way you can fulfill your dream of having that nice Condo for Sale. The trick is you need to find help especially with a respected real estate agent from http://pearlsandsrealtytulum.com that you can find online. Never settle for anyone that has no solid reputation as a real estate broker in Mexico. Do your own research so that buying can be a painless and nice experience for you.
Mexico Real Estate Biz 