Necessary if you plan to earn rental income or eventually sell. Proof of funds for anti-money laundering compliance. Local Real Estate Guidance
You sign the final deed ( Escritura ) at the notary’s office. The balance is paid, and the notary registers the deed with the Public Registry. 3. Estimated Costs & Taxes Cost Category Estimated Amount Closing Costs 5% – 9% of purchase price Acquisition Tax (ISAI) ~2% of assessed value Fideicomiso Setup $1,500 – $3,000 USD Annual Trust Fee $500 – $800 USD Property Tax (Predial) ~0.1% – 0.15% of value HOA Fees $150 – $500 USD per month 4. Required Documentation
The most common method for residential use. A Mexican bank holds the legal title for 50 years (renewable), while you maintain full ownership rights to use, rent, sell, or will the property. buy condo playa del carmen
Valid Passport and Visa (tourist permits are generally sufficient). Proof of address from your home country.
Your attorney or notary applies for a permit from the Ministry of Foreign Affairs (SRE) to allow the trust setup. Necessary if you plan to earn rental income
Pay a deposit (typically 5-10% ) into a neutral escrow account.
Submit a written offer. Once accepted, sign a Promissory Contract ( Contrato de Promesa ) which anchors the price and timeline. The balance is paid, and the notary registers
Working with a reputable agency is critical as real estate is not regulated in Mexico the same way as in the U.S. or Canada. Consider established brokers like Buyplaya , Real Estate AmorAmar , or Riviera Maya Cozy to navigate listings in neighborhoods like (gated/quiet) or Centro (walkable/lively).