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Written by Kanoa Biondolillo

The first tip that a foreigner must remember before buying a property in Mexico is research. A detailed study about this beautiful country must be conducted. Your decision must not be based solely on the distance of the place from the United States, but consider the other factors that drive you why you want to invest in Mexico.

You can start your "virtual travel" of Mexico via the Internet. There are many websites that carry articles about Mexico. There are online professional realtor agents who are willing and able to guide you as you visit the place and see the beauty of every community in this country. He or she will brief you about its history, people, culture, laws, tourist spots, prices and other factors about a specific place you wish to be familiarized in the area.

After completing your research about Mexico, it is quite certain that you will be convinced to settle in one of its wonderful coastal cities. But do not make haste; it is very important that you must fully understand the processes in acquiring Mexico properties. Here are some of the legal pointers that you must remember before sharing your precious dollars to buy that property.

Are you qualified to own a real property in Mexico

The answers are no and yes. NO because under the Mexican Foreign Investment Law, foreigners are restricted to directly own real estate properties for residential purposes that are within the 100 kilometers land borders or 50 kilometers from the coastline radius (restricted zone). The answer is also yes because they can acquire the same property through a Mexican Real Estate Trust. This trust agreement allows the foreigner/purchaser as beneficiary in a local banking institution. The bank acts as fiduciary under this set-up.

The same yes answer is also applicable when the subject Mexico real estate for sale is for non-residential purposes although located within the Restricted Zone. This other approach is not through a Mexican Real Estate Trust but under the name of a Mexican firm.

Do you have to see and inspect the property

Before you buy that piece of property; be sure to inspect it and protect your interest by purchasing title insurance. This insurance will secure you in case there is a lien attached to the title of the property. An actual site inspection must also be considered especially on the constructed facilities. If you cannot personally inspect the building, hire an accredited appraiser to assure that the building is in accordance with Mexican building standards and the cost is within the price ranges in the area. If everything appears satisfactory, preparation for the documentation of the sale on the said Mexico real estate is in order.

What are the legal documents needed to seal a purchase

Like in most countries, a deed of sale is one of the modes of legally transferring ownership of Mexico real estate for sale. It could be an installment sale, conditional sale or an absolute deed of sale to be executed by both seller and buyer before a Notary Public in Mexico. This deed of sale must be properly studied before signing your name on it.

Kanoa Biondolillo is the CEO of Baja123.com, a top ranking real estate website that offers free information about Mexico Real Estate, particularly the beautiful coastal resort areas. He lives in Baja and he regularly contributes his written articles giving special attention to Cancun Real Estate.