U.S and Canadian citizens can easily finance a home or property in Mexico
Photo: hotel and resort building construction in Rocky Point (Puerto Peñasco) is still strong.
As with any real estate transaction, investors should be knowledgable about Mexico's real estate financing practices. Real estate purchases in Mexico by U.S. citizens once was a major barrier to Mexican investments. But that has changed and new business and investment opportunities are now available to United States and Canadian citizens.
Now, more investment opportunites to own Mexican property are possible. Mortgages, home loans, properties and land can now be easily be purchased. The Mexico real estate financing industry is going full steam ahead.
Mexico Real Estate Index
Rocky Point (Puerto Peñasco) Real Estate (Sandy Beach, Mayan Palace)
"The first Mexican RMBS deal successfully debuted in December 2003, pricing at a record low of 5.00% fixed interest rate." said credit analyst Juan Pablo De Mollein, an associate director in Standard & Poor's Latin America Structured Finance Ratings group in New York
This favorable pricing suggests a wider acceptance of, and demand for, structured finance debt by domestic investors."
In terms of volume, number of deals, and asset classes, 2003 was a record year," said Mr. De Mollein. (ref: Find Articles).
But, just as purchasing property in the U.S., Europe or Canada, the investor must take all precautions. especially title insurance. Investors should use a licensed Mexican and U.S. real estate agents, attorneys and accountants.
With professional help, and title insurance, you can better assure that the seller holds a clear title. Require that all documents be translated into readable English. For properties advertised in Arizona, be sure to inspect the developer's report. This report is on file with the Arizona Department of Real Estate.
For more online help: Arizona Department of Real Estate: www.azre.gov