Buying Mexico real estate is easy for foreign buyers (bad credit home loans)
No commentsBy bill mabra
Mexico is a great place to vacation as it is very close to the United States and Canada by plane and the climate is warm when it is very cold everywhere else. Many people have been to Mexico at one time or another, maybe college spring break or a honeymoon perhaps. Many people see homes and condos for sale in Mexico and really want to know how they can own that property. Back when I was a tourist in Mexico I had the very same questions. It is very important to learn the laws and dispel all the bad information. Of course lots of misinformation is available about property ownership in Mexico. A lot of this stems from people not having all the facts or someone heard from someone etc. etc. We all know how those things work through the grapevine. First, once your home or condo is legally titled no one and I mean no one can take it away from you. People from all over the world buy and sell property in Mexico every single day legally and without problems.You just simply have to know the laws. According to the Mexican constitution a foreigner cannot title any property that is within 100km of any border or 50km of any coast in their name. That doesn’t mean you cannot own it, it means you have to title it differently than you would if you were in the interior of Mexico. In the interior you can buy property as you would in the U.S. or Canada. It can be titled in your name with no problems at all. If you want a home or property in mexico that is within 50km of a beach then you have two choices.
First choice is setting up a Mexican corporation or an S.A. de C.V. This is very much like an LLC corporation in the U.S. It is primarily for sole proprietorships and small to medium business. That business then in turn can purchase property and hold title to the property in the business name. You need two people that are 18 or older to sign up as principles of the corporation. The nationality of the two people doesn’t matter and you can split the ownership of the company any way you like. For example each person is 50% owner or one can be 99% and the other can be 1%. In order to title your property in a business name you have to show that either you are doing business with that property OR that you have the intent to do business. An example might be if you bought a building and downstairs was a restaurant that you rented to someone and upstairs was a condo and you lived in it. Something like that would work, but be aware if the tax/real estate authorities ever choose to investigate your property and they find that it is primarily for residential use only? They can slap you with a pretty hefty fine.
Option number two is using a bank trust and holding the title of the home or condo in that trust. The word for this trust in Spanish is fideiocomiso (fee-day-ko-me-so). The title is held in trust with the bank and you are named as the trustee granting you (could be you and your spouse) the power to make any and all decisions regarding the home. In this way you and only you have this power over the trust so for all intents and purposes you are the owner legally. You would want to use the bank trust unless as stated earlier you are buying a building or area that includes commercial property in Mexico.
Of course when you speak to your agent and your attorney in Mexico they can drill down to a lot more detail on the foreign buying process with the details but this is just a basic article about people from other countries purchasing Mexico real estate. You can see more at www.cheapmexicorealestate.comMexico is a great place to vacation as it is very close to the United States and Canada by plane and the climate is warm when it is very cold everywhere else. Many people have been to Mexico at one time or another, maybe college spring break or a honeymoon perhaps. Many people see homes and condos for sale in Mexico and really want to know how they can own that property. Back when I was a tourist in Mexico I had the very same questions. It is very important to learn the laws and dispel all the bad information. Also, there are plenty of rumors flying around about how the government can take away your property or how corrupt things are in Mexico it goes on and on. There of course are also rumors that foreigners cannot own a property in Mexico. Nothing can be further from the truth. The government cannot take away your legally titled property once it is registered with the public registry. Also, foreigners can and do own homes, land, condos as well as commercial property in Mexico every day.As i said before it is important that you understand the legal aspects of the buying process in Mexico for non Mexican nationals. The law in Mexico states that non citizens of Mexico cannot legally hold title in their name of anything within 50km of the coastline or 100km from the border. Foreigners of course can still buy and sell property in those areas but legally they have to do it a little bit differently than in the interior of Mexico. This is known as the restricted zone. In other areas foreign buyers and title property just like they would in their homeland in their name. Actually there are two options for owning a home in the restricted zone for foreigners.
First choice is setting up a Mexican corporation or an S.A. de C.V. This is very much like an LLC corporation in the U.S. It is primarily for sole proprietorships and small to medium business. That business then in turn can purchase property and hold title to the property in the business name. You need two people that are 18 or older to sign up as principles of the corporation. The nationality of the two people doesn’t matter and you can split the ownership of the company any way you like. For example each person is 50% owner or one can be 99% and the other can be 1%. In order to title your property in a business name you have to show that either you are doing business with that property OR that you have the intent to do business. An example might be if you bought a building and downstairs was a restaurant that you rented to someone and upstairs was a condo and you lived in it. Something like that would work, but be aware if the tax/real estate authorities ever choose to investigate your property and they find that it is primarily for residential use only? They can slap you with a pretty hefty fine.
Option number two is using a bank trust and holding the title of the home or condo in that trust. The word for this trust in Spanish is fideiocomiso (fee-day-ko-me-so). The title is held in trust with the bank and you are named as the trustee granting you (could be you and your spouse) the power to make any and all decisions regarding the home. In this way you and only you have this power over the trust so for all intents and purposes you are the owner legally. You would want to use the bank trust unless as stated earlier you are buying a building or area that includes commercial property in Mexico.
There are a few more things to know about this process when purchasing but this gives you a high level overview of how it works.
staff writer from Riviera Maya real estate news http://www.cheapmexicorealestate.com
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Estate Agents Docklands - Selling Your house Fast
By Richardo Butler Butler
1. Estate Agents Docklands -Instruct Your Estate Agents Docklands
You should get at least 3 Estate Agents Docklands to give you a estimation for your property. The Estate Agents Docklands that you choose to represent you should be one that you can relate to on a personal level, that is on the go in the local market and knows the local marketplace very well. They should also be very eager to take your property to the market place.
2. Estate Agents Docklands - Clean Up
Make sure that your home has been cleaned up as best as you can in the situation. It is a good plan in some circumstances to employ industrial cleaners to come in and clean your house from top to bottom making sure that they hit the spaces that you might shy away from. Make sure that you concentrate on cleaning the kitchen and bathroom; these rooms have to be particularly hygienic and appealing for someone viewing the house. You can even go as far as to put on a fresh toilet seat and clean white towels to make it appear as new. Do not forget that the garden is seen as an extra space for the property. Make sure the garden has been well looked after and is also pleasing for relaxing in and entertaining.
3. Estate Agents Docklands - Your Target Market
When you are selling any home one of the key things you can do is to form a written account of the type of person that you think would purchase your house. This will help you when you are creating the right selling space in your home. In some cases it may be suitable for you to change your home around and add some new features like a shower that will appeal to the right buyer. Your Estate Agents Docklands will be able to point you in the right direction for this.
4. Estate Agents Docklands - Word Of Mouth Marketing
Make sure that you let your neighbors know that you are selling your property, it is likely that someone will know someone that is looking to buy in the area.
5. Estate Agents Docklands - Costs
Given the general Estate Agents Docklands fees, you will be able to get a cheaper fee from selling your house via a sole Estate Agents Docklands rather than from multiple Estate Agents Docklands. I would urge that you focus on the one Estate Agents Docklands proposal that you like the best and giving them a contract for 4-6 weeks to give them a good opportunity to sell your home promptly and keep them motivated. Make sure that the details of the fee and the time available for the contract is confirmed in writing.
For quick and professional results when selling your property check out The Right Estate Agents Docklands
Prescott Geologically Created to For Excellent Living
By Peter Gooding
There is no question that several factors make the Prescott region an excellent place to live and build homes. The higher altitude brings wonderful, clear weather, the Desert Mountains give amazing panoramic views, and the natural resources provide all the necessities to sustain life. The geology of Northern Arizona has combined to create a prime location for living.
Living in the desert brings to mind dry, arid heat, but in the case of the Prescott National Forest region, that is not the case. Of course, the sun does shine most days and humidity is low, but heat and sparse cactus are not the case at a 5,000 foot elevation. When plates pushed the Bradshaw Mountains to such heights, a new, friendly environment was formed. Temperatures drop rapidly about 15 or more degrees as you make the short trip north and climb out of the valley, making Prescott an ideal area for living year round.
Naturally, the change in elevation impacts the vegetation, wildlife, and minerals as well. Ponderosa pines dominate the landscape with some juniper and plenty of green bushes and grass filling in the remaining space. There are many types of wildlife throughout the area including larger animals such as elk or even the occasional cougar. The minerals of the area are rich and varied due to past geologic upheaval. Many of the Prescott areas rivers were mined for gold years ago as well as other metals and minerals. Much of the land is now protected to retain its natural beauty.
Since the formation of the mountains is steep and fast, the views created keep the land a prime place for homes, vacations, and site seeing. There are so many panoramic scenes, they could never be counted. When you wander out of the trees, you will be awed by the miles of rocks, canyons, and peaks that appear.
The issue of water in the desert is another area in which geology has impacted Prescott. Years ago, shifts and upheaval led to a huge water basin reserve just beneath the land. The Big Chino basin makes fresh, clear water readily available for the community. Rarely will you discover a place in the arid regions that drilling a private well for a home is so easy and sure to work. The supply is just one more reason that people are checking out a move to the Prescott Mountains.
Peter Gooding is the owner of LV Ranch Estates, a developer of property in northern Arizona. Peters goal of turning Arizona ranch land into a sustainable real estate development has come to life with LV Ranch Estates.
Saturday, February 6th, 2010 at 12:05 am and is filed under realestate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
