Mexico and Homeownership

Is possible for foreigners to purchase property in Mexico? Yes! However; it is a many step process. Mexican law does not allow any foreigners to actually buy the property directly. If you are not a Mexican citizen you can not enter into a contract to buy real estate in Mexico. So why did I say you could buy it? Because you still can! Banks act as an intermediary and can act on your behalf to get the contract completed.

When a foreigner is buying a property in Mexico, there are typically four people involved. Those four include a realtor or Real Estate Company, the foreigner’s lawyer, the financial institution and a public notary. Unlike some countries, Mexico’s real estate market is not as closely regulated. They do not have any certifications or licensed realtors, there is no branch or department regulating real estate, no disclosure laws and in general do not have many safeguards to help a buyer. This causes a big risk to new and foreign buyers. This leads to the use of many professionals to close on a deal. It is highly recommended to seek professional help if purchasing in Mexico from a trusted source in order to have the transaction completed and where you end up satisfied with the purchase.