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Mexico Real Estate
For now the real estate in Mexico is far cheaper than any property in Usa or Europe, but the property price is steadily increasing due to the high demand.Not all areas in Mexico are attractive speaking from the property investment point of view.
Some areas are inhospitable because of the climate or location; some are unpopular with the visitors.
There are no restrictions for foreigners wishing to buy property in Mexico.
Over the years, the property prices in Mexico have risen but are still areas where the price is quite attractive.
It is advised before buying to do a substantial amount of research in the real estate field.
It is also indicated the use of a good real estate agent.
Most real estate companies in Mexico charge a 6-8% commission based on the actual sale price of the property.
Also in order to succeed in buying a good property, a lawyer and a good notary should be hired.
They have to do all the searches related to title deeds, building permits and so on.
After the property has been found and agreed upon with the vendor, a sale agreement can be made and a 10% value of the property can be paid.
There are some issues buying property in the border or costal areas.
In this case, is needed to buy via a bank trust which first has to be established.
In general the whole property buying process should take around 3 months, in some cases maybe longer.
