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Buying Real Estate in Mexico

Buying in Mexico, whether a vacation home or investment property should be an exciting and stress-free experience. The Riviera Maya Real Estate team is here to help guide you through the entire process. Our laid-back approach means there will be no pressure on you to buy until you find the perfect place and our main goal is to make you happy.


As a foreigner, can I own property in Mexico?

  • Yes! Buying real estate in Mexico as a foreigner is a safe and easy process that is designed to protect you as the buyer.


How do I buy property in Mexico as a foreigner?

  • As a foreigner buying property within 50 kilometers (about 31 miles) from the coast and 100 kilometers (about 62 miles) from international borders you have two options. You can buy via a Fideicomiso (Bank Trust) or with a Mexican corporation.


What is a Fideicomiso & do I truly own the property?

  • A fideicomiso is like a living trust where the bank acts as a trustee. You choose the bank and you maintain complete control over the trust, can have beneficiaries and can sell your property at any time. A fideicomiso is not a lease.
  • The fideicomiso when first created is established for a period of 50 years and can be renewed at any time and guaranteed forever.
  • A fideicomiso has a yearly fee payable to the bank.


Can I buy property through a Mexican corporation?

  • Absolutely! Should you be looking to buy multiple properties as income generators or buying and selling land some investors choose to do this via a Mexican corporation and we can help guide you through this process.


What parties are involved in the purchase process?

  • Real Estate Agent: Your agent is the first point of contact when looking to buy and while their responsibilities are very similar to those of a Real Estate Agent back home there are small differences. Our team of agents are all experienced and qualified to help guide you through this exciting process.
  • Buyer’s Attorney: We always recommend our clients use a trusted attorney when purchasing real estate in Mexico. It is attorney’s job to represent and protect you as the buyer and your attorney will be responsible for drafting or reviewing all contracts involved with your purchase. We only work with trusted firms whom we have a longstanding relationship with.
  • Bank (when buying via Fideicomiso): The bank you choose to hold your trust will guarantee that the closing is both appropriate and legal. They will review all documents involved prior to closing taking place and their name and information will be included on the property deed alongside the buyers. The bank trustee is prohibited by Mexican law from transferring ownership of the property, changing beneficiaries or modifying the trust without written instructions from the buyer. The bank you choose with them reviewing all documentation and looking out for your interests as the buyer is just another way to protect your interests.
  • Notary: The notary is responsible for many things, including the authentication of legal documents and is responsible for ALL real estate transactions in Mexico. Any real estate transaction not approved by a notary and duly recorded in the Public Registry is considered invalid and not enforceable.


What are my closing costs?

  • Closing costs, which include taxes, notary fees, attorneys fees, fideicomiso, escrow and government fees will cost between 5%-9% of the property’s value. The higher the value of the property, typically the lower the closing costs in terms of %.


What can I expect to pay in property taxes?

  • Low property taxes is one of the many great aspects of buying in Mexico. You can expect to pay approximately .1% of the property’s value on a yearly basis. If your property is worth $250,000 USD, then your yearly taxes will be around $250 USD. The government loves when people pay early. Should you pay your taxes in December of the year prior (December 2019 for the 2020 tax year) you can save approximately 25%.


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