When you decide to purchase your dream home or ideal investment property in Cozumel Mexico there are several prerequisites that need to be arranged and fully understood.
Know why and how will help make your buying experience more pleasurable. This simple but informative brief outlines several knowledgeable points to review. That way buyers will cover everything during the purchasing process.
In this particular case, we're focusing on funding .
Avoiding problems with funds
Having your finances in order beforehand is a must.
Purchasing property in Cozumel Mexico requires cash-only transactions in most cases. In some instances, there are owner financing options, however, this is only advised if it is for a family member or close friend. Make sure you have your funds readily available before making an offer. When making an offer on a property you will need to back it up with earnest money.
Here are a few ideas to help you when asked for money down and/or secured funds with your offer:
- Have your funds in an account that can be easily accessible and under your control, whether it's in Mexico and/or your specific location.
- Prearrange any special wiring procedures and/or instructions along with any chargeable fees.
- Work with a professional CEO realtor that will guide you to lawyers and notaries who have experience in foreign trust/escrow exchange and transfers.
The above bullets focus only on a few of many things you should be aware of when setting up a transfer that will be extracted from your bank account.
You as a buyer won't pay realtor fees, that is in charge of the seller.
The notary's and government fees has an estimated between 6% to 7 %.
Owning a property in Cozumel, Mexico is very obtainable.
Thousands of North Americans have acquired first and second homes as well as investment properties south of the border.
One things all property owners have in common is that they have purchased through a reputable real estate company.
The lawyer and notary can also offer advice on finding the right bank for holding your trust.
Here at CEO Real Estate Cozumel we are happy to help you get through the process of purchasing a home in Cozumel and show you how beautiful and smooth the process can be.
CEO Real Estate.