What do you should know when buying property in Mexico
- The bank loan of a property in Mexico will not appear in your credit report, and will not affect your credit score in the United States. A new credit report will be generated exclusively in Mexico.
So don’t worry! It will not affect your credit score in the United States.
- It’s not necessary to have a credit history in Mexico to get your loan with Mexican banks, your fico score and income from the United States will be the points taken into account for the bank to grade you.
The American economy is welcome and understood amongst our finances.
- The loan and payment of the allowance of the mortgage credit is in pesos, not dollars.
If your income is in dollars the exchange rate will benefit you, and make your purchase a Better investment!
- In the event that you do not have Mexican citizenship an being foreign by law, by law a “Fideicomiso” (Bank trust) is necessary for the property to be deeded to your name.
While the escrow is informed of your annuities, you can sell, rent, remodel and have free control over the property
- Every purchase-sell futher it is through a mortgage, credit or payment infull , they must be registered in a public registry of the property in Mexico and deeded before the public notary.
This will ensure that the property is left registered exclusively in the buyer’s name.
With our knowledge and experience in real estate in Mexico, our job and service is to accompany you step by step beginning from the reservation until the deed of trust is signed.