With its close proximity to the US, lower land and construction costs, and low cost of ownership, Mexico is an attractive location for buyers looking for great values in international real estate. Still, there are significant differences in how real estate is purchase in Mexico than it is in the US and foreign real estate investors would be wise to have these three “must haves” in place to ensure a successful transaction:

Hire a reputable Notary Public (Notario Público)

Unlike their counterparts in the US, the notary public in Mexico must have a law degree, have three years of work experience in a Notary Public office, be a citizen at least 35 years of age, pass a stringent written exam and be appointed directly by the State Governor.

Mexican notary publics play a central role in property purchases and are responsible for preparing property deeds and ensuring that all documentation and permits are in order so that a real estate transaction can proceed. A reputable and experienced notary public will work with you to check that any properties you are considering have a clean history and are free of any liens, as well as making sure that all legal procedures are adhered to (although there is no guarantee that the title is clean just because they check).

Find A good lawyer

Whether you are considering investing in property inside or outside of the restricted zones, hiring a lawyer with extensive experience and knowledge of Mexican land ownership laws and land trusts is a must-have for investing in Mexico real estate. A good lawyer will be well versed and able to educate you on the negotiation process in Mexico, introduce you to reputable banks, and will assist you in establishing a land trust which are required if you are purchasing property in coastal or border zones.

Get the proper financing and structure in place

Typically most real estate deals in Mexico are cash transactions. Nowadays however Mexican banks offer a diverse range mortgage products for financing the purchase of real estate in Mexico. In addition, some US mortgage firms also offer specialized products for investors interested in purchasing property in Mexico. Just as with US real estate purchases, it is always a good idea for buyers to make sure that they have the proper financing and structure in place before pursuing a property purchase.

Sources: http://www.mexperience.com/property/prop_buying.htm / http://www.mexperience.com/property/mexicorealestatefinance.php