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If you are new to the area you first need to understand the layout
of Mazatlan. Mazatlan is a beautiful city with many wonderful
personalities. We can help you with a short
presentation and a tour of the city. |
Finding a property
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Once you understand Mazatlan it will be easier to
locate your dream property. We can assist you with this process. We will
work with you until you find your property in Mazatlan. |
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A good resource to help you understand
real estate laws in Mazatlan, Mexico. Remember, there is a difference
when you buy real estate along the borders or near the oceans, you need a fideicomiso. |
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Another good
website that addresses many aspects of buying real estate in Mazatlan. |
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For people in Mazatlan, Maztravel.com is a very good resource
especially the kwiki pages |
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If you are not a Mexican you can purchase property in
Mazatlan. Some special laws apply
when purchasing property near the boarders or the oceans in Mexico. The
property you purchase is held in a bank trust, a fideicomiso, and you can
use the property as if you owned it. You can identify beneficiaries,
remodel it, build on it or sell it with no problems. If you purchase
a property we can help you through the fideicomiso process. |
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A notario is not to be
confused with a notary in the US. A Mexican notario is first a
practicing lawyer, then appointed to the position of notario. Notarios
are the experts on real estate transactions in Mexico. You should never
purchase real estate in Mexico without the assistance of a
notario. We can assist you in finding a very good notario. |
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Mortgages are gaining in popularity in Mazatlan. Primarily, there are
two sources for mortgages in Mazatlan. The first is the banks.
The second is mortgage companies from the US and other countries. The
mortgage companies generally have lower interest rates. If you need
financial assistance with your purchase we can assist you in finding a
mortgage that fits your needs. |
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Generally, closing costs are paid by the buyer since it
is the buyer that employees the notario. The closing costs will run from
4% to 7% of the purchase value of the real estate.
The closing costs include:.
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Notarios: Legal Fees &
Certificate stating the property is free of all liens and burdens
(Solvency Certificate and Encumbrance Certificate)
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Real Estate Acquisition tax of
approximately 2.2%
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Public Registry Fee
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Appraisal fee and Blue Prints
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Misc.
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Title insurance is available in Mazatlan. The normal process is to
first buy a property using a notario and then purchasing a title
insurance policy. We recommend title insurance policies for property in
rural areas, properties where the owner is deceased and properties where
the owners are involved in a divorce. We can help understand whether you
need a title insurance policy and then if necessary, help you locate a
good title insurance company. |
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Ejido land is property that is owned by the native Mexicans. This
land is similar to Indian reservations in the US. The property is owned
by all the people, there are no separate deeds to parcels of land. It is
very difficult to purchase Ejido land. We recommend not attempting to buy
this type of property. If you feel you must buy Ejido land we will assist
you in locating a lawyer that specializes in these types of
transactions in Mazatlan. |