Purchasing Puerto Vallarta Real Estate is definitely an attractive prospect for retirees, investors and even young families looking for a fresh start. Here are a few things you need to know before you buy real estate in Mexico.
Can foreigners buy real estate in Mexico?
By placing the property in a bank trust, foreign buyers can purchase real estate in Puerto Vallarta and other regions of Mexico. These bank trusts are also called fedeicomisos and are the perfect option for acquiring coastal real estate in areas like Puerto Vallarta.
Can foreigners buy beachfront properties in Puerto Vallarta Mexico?
Foreign buyers can purchase real estate in the “restricted zone” through fedeicomisos, but interested buyers should be represented by a qualified realtor with experience in coastal properties in Mexico. Vallarta real estate is available now. Browse thousands of coastal Vallarta real estate listings on our website today.
Who is involved in a real estate purchase with a bank trust?
When purchasing Puerto Vallarta real estate, there are three parties that will be involved - the seller, the bank itself, or Fiduciario, and the buyer. The realtor will handle all the details. Choose the right agent by contacting Ron Morgan Properties.
Are there additional fees involved in using fedeicomisos?
There is an initial set-up fee for fedeicomisos. This is usually around $500, but may vary by bank. There are yearly fees as well, but they are affordable and well worth the added security that a bank trust provides the buyer.
When buying Puerto Vallarta real estate, who pays the closing costs?
Typically, the buyer will pay closing costs of a real estate transaction. This includes transfer of acquisition taxes which is generally 2-4% of the tax appraisal value. The buyer is also responsible for notary fees and other closing costs, while the seller usually pays the brokers’ commissions. Of course, each sale is different and you may encounter unique challenges, that is why it is so important that you find a real estate agent you can trust to negotiate the best deal for you as a buyer. You will find that Ron Morgan Properties has the agent that is the right fit for you. We are ready to help.
How long does the purchasing process take when buying Puerto Vallarta real estate?
You can expect the process to take 30 to 60 days, but each and every purchase is different, and Ron Morgan agents will work to make the buying process simple and fast. The process itself can be streamlined when the proper documentation is in order, but it is important that you have a trusted agent that will cover all the bases.
If you are considering a fresh start with coastal living, you should consider Puerto Vallarta. The market in Puerto Vallarta is experiencing an upswing, buyers are flocking to the Romantic Zone and other areas in Mexico. The time to purchase a home in Mexico - especially Puerto Vallarta - is now so don’t delay. A real estate professional at Ron Morgan Properties is waiting to help you find the exotic getaway of your dreams. Contact a highly qualified Ron Morgan agent today.Vallarta Real Estate