Thursday, January 13, 2011


How to Buy Real Estate in Mexico: Selecting Your Property Options

In a couple of posts before, we have discussed several of the steps during a normal process of buying real estate in Mexico.  Starting with interviewing and selecting a Mexico realtor that can best represent you during a real estate transaction and to help you put together a list of qualifying properties.  During your conversations with your realtor, you should share with them all of your dreams, your likes, your lifestyle, budget, and the type of property amongst other items so that he can get to work and help find you good options.  Below are some good steps that you can take to put together a good list of options.
First it is important to understand that finding Mexico real estate options have various more steps involved than what we are accustomed or what we would expect from the normal procedures from our home countries.  You need to realize that some properties
Lack title on the property – There exist some properties in Mexico which do not have the title.  Although there are steps that you as a buyer can realize to manage such a situation and obtain a title at a later date, the sooner you understand the status of a property, the sooner you can decide whether to qualify or disqualify such property from your overall list.
Poor History of Performance from seller or history of quality issues in building. – A building might have been constructed with various problems in the pipes, or the floors, or wiring issues.
Deteriorating neighborhood.  -  Some neighborhoods might have seen their glory days years before and the future demand might be on a different part of the city or community.  It is good to hear the opinions of people who live and work in the area.
So with these pointers…
Step one,
put your realtor to work, Have him send you properties that fulfill your criteria.  Review the options, put them in an order of best to worst and giving any feedback with your realtor of how you rated the properties.
Step two,
search the internet yourself if you have time.  When you find a property that looks interesting, SHARE THIS INFORMATION WITH YOUR REALTOR.  Put your realtor to work and allow him to research, investigate and find the status of the property and if any of the above concerns will continue to qualify or disqualify the property as a good option.
Step three,
allow your partner or your family members to participate with you.  If they will be sharing and enjoying your new Mexican home, it is important to hear their feedback in the properties as well.  They might even bring up questions that might have otherwise been overlooked
In order to help you have an efficient process of buying a property in Mexico, putting together an overall list of property options is recommended.  Having a well experienced realtor from the area is an important key to organizing this agenda along with your selections that are added from your surfing the internet.  Finally getting your partners opinion will add more valuable input in the decision making process and will make the overall purchase process …. More exciting and fun.
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. In the summer of 2009, he received the first federally appliedMexico Real Estate Degree and Mexico Professional Real Estate LicenseS.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company’s web sitewww.TOPmexicorealestate.com NETWORK
“Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”
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