With the sudden change in the economy in the United States, many people have decided to make the move across the border to Mexico. Mexico boasts a lower cost of living when compared to the United States. Many adventurous expats have fallen in love with Mexico and have decided to call it home.
Are you an adventurous person looking for a new experience in life? Then Mexico may be the perfect country for you. San Miguel Real Estate is excellently priced, making it possible for you to enjoy the ‘good life’ while sipping a margarita on the beach.
As we all know, things are done a little differently in Mexico, especially when you are talking about real estate. In some cases, there is no need for Real Estate Agents, which is a foreign idea for those coming from the US. The Agents in the States are known for being some of the wealthiest people in the world. This is simply not the case in Mexico. An agent is still a relatively new idea for those in Mexico.
Do not fear though, it is still possible to find real estate agents to help start you off on your new adventures. One thing you should keep in mind is that in most of Mexico there are no real license requirements for being an agent. So, pay careful attention to your agents, and make sure that he or she is licensed with certifications such as A.M.P.I. or Realtor.
While you are house hunting through out Mexico, you may come across areas that are restricted or areas that are unrestricted. Restricted zones only allow native citizens to invest on the real estate present in this zone. However, there is a way around this. There is a government provided system that is called Fideicomiso. Fideicomiso is similar to a Bank Trust. This system caters to foreigners who desire to conduct business in the restricted zones.
Another way that you can invest in real estate that is in a restrictive zone is by incorporating a corporation in the country, and then gaining ownership of the corporation. In this way, you would be indirectly controlling the real estate property.
As you are well aware, there are many processes to become acquainted with. It is vital to do your research before investing in property in Mexico. Be sure to look at the fine print when you are applying for real estate loans from a bank that is in the US. By paying attention to the fine print, you will see the hidden strings that are attached to the loan being offered before you get yourself into something that you will regret later on.
Retiring in Mexico is very possible, and once all is said and done, can be very enjoyable. Be sure to do all your research. You can never be too prepared. The more research you do, the easier the process will be, making your dream of sipping margaritas on the beach a reality.
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