The CLOSING PROCESS is the number of steps we have to follow to register the property you are acquiring to be on your name for good, so you can go to bed peacefully.
The standard process its register your new property under a bank trust; known as FIDEICOMISO. On this step you would choose a bank institution in Mexico that will hold the Property on your name and a Notary that will legalize your new investment in Mexico. You can do some research and suggest any bank institution or Notary you prefer or you can let us worry about this part and save you this headache, as most of the Rea Estate agencies, we work with certain Notaries and bank institutions.
On a second step we would get together all corresponding certificates and paperwork that Notary will need to transfer the property on your name. Once all papers are filed and Notary is ready; we can set an appointment with the Notary to have you sign on your Property. Timeframe of the entire process takes an average 120 days, on some case only 90 days (If there are not holidays in between).
After you sign your Fideicomiso before the Notary, this one gets to the Catastro Office and then to Reistro Publico Office (Public Registry records). Once your Fideicomiso is registered at these two offices it becomes, entirely yours and bulletproof. No one else could claim your property. This process can take another 4 to 6 additional weeks. The total cost of this process varies from 7 up to 10%, and it's additional to the purchase price of the property. You might want to consider this cost as part of your investment budget.
I hope you enjoy the free reports I’ve provided, and I hope you learn a little more about what it takes to make your important purchase a great one.
Real estate market in Los Cabos is certainly volatile, and all of the information about buying a home can be overwhelming. I can help you to make it less troublesome.
When you're ready to act, contact me.
I'll fight on behalf of my buyers, I'll negotiate the absolute best price, I'll protect you, I'll simplify your transaction for you as much as possible.
I look forward to work with you.
Thanks for stopping by,
Adriana
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