How To Buy Land In Mexico
Learning how to buy land in Mexico can be very exciting. Most people who are looking to buy land in Mexico are baby boomers, who will be retiring at a massive rate for the next few years. There are some who just want the more laid back culture that Mexico portrays. There are still others who see the economical benefits of buying land in Mexico. Right now, the exchange rate is thirteen pesos for one dollar, making it cheap to buy land and live in Mexico. Whatever your reason is for buying land in Mexico, there are some things you need to know before you purchase. Here are a few things you need to know before buying land in Mexico:
- Exchange Rates. Know the exchange rates so that you can calculate properties you find into your currency.
- Location. A foreigner to Mexico cannot purchase land within 100 kilometers of the borders and no more than 50 kilometers off the coast.
- Find a good real estate company with proven credentials and preferably references. Companies that may need to be involved will be the real estate company, buyer's attorney, bank and public notary, depending on location of purchase.
- Closing Costs. Typically, closing costs will range between five to seven percent of sales price.
- You may want to obtain optional title insurance for your property as well.
These are just a few suggested guidelines for buying land in Mexico. Research is the key to buying in Mexico. If you thoroughly do your homework and really explore your options, you will find that perfect Mexican paradise you are looking for.