Playa del Carmen Real Estate by the Playa Real Estate Group

Playa del Carmen Real Estate with Jason Waller

Looking to Invest in Playa del Carmen & Riviera Maya Real Estate?

Playa Real Estate Group is owned by Canadian Broker Jason Waller and our team will take care of all your real estate needs in Playa del Carmen and all the Riviera Maya.

Watch us at HGTV House Hunters International & Mexico Life

Can I own property in Mexico?

  • Yes you can!

  • For foreigners who want to purchase a property in Mexico,  the Mexican government has gone to great lengths to make it safe and simple to purchase your dream property.

  • It is legal, safe and 100% secure to invest in Mexico and we can guide you step by step through the process.

How do I buy in Mexico?

  • You can buy your property in 1 of 2 ways:

    • Fideicomiso (Trust)
    • Mexican Corporation

What is a Fideicomiso?

  • The bank acts as the Trustee, and you and those whom you choose are the Beneficiaries of the trust. As the beneficiary of the trust, you maintain complete control over it, with full use of the property and all decisions. 

  • This is not a lease, it is equivalent to a Living Trust in the US. The fideicomiso give you absolute control over the property: to enjoy, lease, improve, mortgage, sell, inherit and will.

  • The fideicomiso (trust) is initially established for a period of 50 years and can be renewed at any time. The trust is set in 50-year increments guaranteed renewable forever.

  • A fideicomiso is a real estate trust to be held in the Mexican bank of your choice such as Scotiabank, HSBC, Banamex (Citigroup), Santander, etc...

Can the Mexican Government take my property?

  • Foreigners often worry about their land being taken by the Mexican government.

  • Under the North American Free Trade Agreement (NAFTA), the Mexican government may not directly or indirectly, take property from a foreign owner.

Buying with a Mexican Corporation

  • Some investors choose to purchase the property though a corporation if they plan on running the investment as a business. This would be the case in situations such as buying and selling land or when buying more than one property.

    TIP: We typically recommend that our clients buy with a fideicomiso, as it is a simpler process and they are fully protected.

Who protects me when buying in Mexico?

  • Buyers Attorney

    • We recommend that our clients always use an attorney. An attorney will represent you and protect all your legal transactions. The attorney will create the contracts and review the terms and conditions of the purchase.

  • Bank (if buying with a Fideicomiso)

    • The bank ensures that the closing is legal and appropriate. They will go over all documents and approve them before a closing can take place. The Bank Trustee is prohibited by Mexican law from transferring ownership of the property, changing the beneficiary rights or doing anything regarding the property without your written instructions. Having a major bank looking out for your best interests, is yet another reason to feel safe when purchasing a property in Mexico.

  • Notary

    • The notary is responsible for many things, including the authentication of legal documents and is responsible for ALL real estate transactions in Mexico. Any real estate transaction not approved by a notary and duly recorded in the Public Registry is considered invalid and not enforceable.

  • Buyers Real Estate Agent

    • The process of buying property in Mexico although very similar in most cases to back home, will have some differences. This is why it is always best to have the help of a trusted realtor.

What are the Closing Costs?

  • The total Closing Costs including: Taxes, Notary Fees, Escrow, Government Fees, Fideicomiso (trust) will cost between 4% - 7% depending on the sales price of the property.

How much are property taxes in Mexico?

  • The property taxes in Mexico are very low. They work out to about .1% of the value of the property.

    Example: Property Value $300,000 = Yearly Tax $300


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