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Real Estate and Property
in Puerto Vallarta

 

See why THOUSANDS of people from the USA, Canada, and the rest of the world have made Puerto Vallarta their home.

For a retirement in paradise, or to OWN your own vacation home (with income-producing potential when you’re not using it), Puerto Vallarta real estate has been an attractive investment and looks to continue to be!

Buying real estate in Mexico is very similar to owning property in the USA or Canada. The one exception is that by law the title to land within 50 kilometers (about 30 miles) of the coast or border must be held in trust (usually by a bank), with the purchaser being the beneficiary of the trust. The beneficiary (you) have all the same rights to the property that you would have if you held the title outright; you can rent or lease it, build on the land and/or expand construction (with the same zoning rules as apply to Mexican citizens), sell it, will it to your descendents, etc. This is the government’s way of getting around a constitutional article which prohibits outright ownership of these lands by foreigners. Trusts are valid for 50 years and are renewable. 

Click here to browse current Puerto Vallarta real estate opportunities...Homes, Condos, Land, and more!

Once you understand this peculiarity, the purchase is nearly identical to the process that takes place ‘back home’. Your real estate agent will prepare a written offer to the seller. Once a price is agreed upon, the seller and buyer sign an agreement to this effect and the buyer makes a deposit (usually around 10% of the sale price). Prices are usually (but not always) negotiated in U.S. Dollars, and for payment checks drawn on U.S. or Canadian banks are usually accepted.

Closing typically takes place within 30 days. By law, documents must be in the Spanish language, but you may request translations in English. As opposed to notaries ‘up North’, the notary public in Mexico is a legally trained representative of the courts, and will perform a title search on each property and register each transaction.

MORE REAL ESTATE ARTICLES AND INFO
"Bargain-hunting South of the Border": Article by Benedict Mander in Financial Times
CASE HISTORIES provides a varied view on how and why other people bought homes and property, some for retirement, in Vallarta.
Puerto Vallarta's Neighborhoods and zones...a quick review of the different areas to consider.
Puerto Vallarta and Mexico Attracting Flood of Expatriates for Retirement and Part Time Residences

Buyers are responsible for closing costs, transfer tax, cost of bank trust, notary’s fees, registration fees, tax appraisal fees, and trust permits. The average cost to the buyer for these items will be about 5 to 6% of the purchase price.

There are many real estate companies in Vallarta which will be happy to sell you a home or property, but the services of a “Buyer’s Agent” who’s only interest is in your satisfaction is an extremely valuable asset. While this is true anywhere, it is especially true in Mexico where you may not feel completely comfortable with the differences in the ways of negotiating business in a different environment than ‘back home’. Most realtors represent both buyers and sellers, making it impossible for them to be completely un-biased in their representation. A Buyer’s Agent is ONLY responsible to YOU, without concern for possible commissions on the ‘selling end’ of the transaction. Using a Buyer’s Agent is simply the smartest move you can make when making an investment of this type and size.

While most real estate purchases by foreigners are ‘all cash’, several mortgage companies in the U.S. have offeried financing in recent years on Puerto Vallarta property. While mortgages currently are difficult for non-Mexicans to obtain, the industry is predicting a return to mortgage programs for United States and Canadian citizens in the not-too distant future. Your agent will help direct you to these options should you require them.

Your home in the paradise of Puerto Vallarta will be one of the finest investments you can make, both financially and in the resulting lifestyle. Vallarta has a huge ‘ex-patriot’ community where you will make new life-long friends amongst not only your fellow country-men and -women, but also the friendly native residents who will welcome you to the community! You won’t be alone…as we said, Vallarta is already home to TENS of THOUSANDS of your compatriots!

 


Puerto Vallarta Mexico is  home to some of the finest dining in the WORLD. No kidding, Puerto Vallarta's restaurants have been featured repeatedly in the most prestigeous culinary publications, and for good reason...the fine dining in Puerto Vallarta is WORLD CLASS!

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