How to Buy Property in Playa del Carmen
A question most of our clients ask is how to buy property in Playa del Carmen. How easy/difficult is it?
We’re here to help, take a look at our quick (but effective) guide, and if you have further questions, contact us!
Set up a budget
We all have dreams, but in Real Estate, being realistic is very important. Your agent will help you get the most for your money.
Keep in mind that in the Riviera Maya (Puerto Morelos, Playa del Carmen, Puerto Aventuras, Tulum) the seller pays the commission and the buyer pays the closing costs.
Go check out some properties!
The real estate agent you’ve chosen will take you on a tour across the area. They will be showing you the most suitable properties for your expectations and budget.
Make an offer
We assume here that you found the house or condo you absolutely love. Then, it is time to make an offer!
The agent will prepare the documents and submit them until they get a response from the seller. Once it is approved, it’s time to pay the deposit.
You’ll receive the list of terms, conditions, and the amount to pay.
Enter the Lawyer
The role of the real estate attorney and the notary is crucial during the process.
They prepare the sales agreement, establish the trust (fideicomiso) or help you create a Mexican corporation so you can buy property as a foreigner.
Sign the Agreement
This is the sales agreement between you and the seller or developer. It contains the terms, conditions, and obligations assumed by both parties, as well as the closing date. Read it carefully before signing!
While you wait for the closing date, the attorney will prepare the documents needed.
Closing
We’re finally here! Now you have to confirm the payments, release the escrow, and sign your title (escritura).
The notary will register your property in the Public Registry of Solidaridad (Playa del Carmen). It will take a while, but once you receive the confirmation you’ll be officially a happy owner!
Share this article with someone who wants to buy a property in Playa del Carmen, and book an appointment with one of your professionals in Real Estate.
