A property purchase often represents the most substantial investment an individual or family will make in Mexico. Legal and secure transactions are possible, although foreign buyers are often unfamiliar with Mexican property procedures and tax rules. All too often they rely exclusively on professionals who may have a vested interest in the transaction.
Get your property transaction independently examined
An independent examination of your sales contract and transactional procedures provides cross-checks as you navigate your way through a property purchase or sale in Mexico.
Linda Neil and her team at The Settlement Company® are experienced real estate professionals who can:
- Explain the procedures, legal matters, and tax rules to you in detail, independently of parties who have a vested interest in the transaction.
- Examine the details of your property purchase/sale contract to ensure that it does not contain clauses that may cause adverse effects and/or create undue risks.
- Ensure that the fees you are being asked to pay for professional services are reasonable, and that the tax calculations are aligned with current tax rules.
- Offer you a direct line for independent verification of matters which arise that you are unsure about as you make your way through the property transaction.
- Act as liaison between you, your real estate agent (if you are using one) and other professionals—for example, the Notary Public or local attorney situated in the State where the transaction is taking place.
Benefits of hiring an independent professional
Personalized service: This independent consulting service is formed around your individual needs. Furthermore, you can order practical support through the procedures to ensure professionalism and integrity in your transaction.
Overcome language issues: Property purchase/sale contracts are often written in Spanish and the seller’s deed is written in Spanish—by law. The legal terminology and clauses can be obscure or confusing. This service will help you to understand what you are committing to within the context of the sales/purchase contract. Linda and her team will explain what you are committing to in terms of Mexican law.
Oversee your investment: Hiring an independent assessor can protect your investment through an examination of the proposed transaction. This can help to ensure that agreements are realistic and are able to be fulfilled, legally.
Avoid pitfalls and hidden costs. The costs of dealing with improper procedures or adverse contract terms after a property deal is closed can be substantial. An independent review and examination of your property deal prior to signing or payments being made can help you avoid to the costs and inconvenience of dealing with problems afterwards.
How the support service works
Linda and her team at The Settlement Company® provide an initial consultation, and can offer you a package of support services as you make your way through a property transaction in Mexico. These services include:
- An initial consultation to talk about your situation and the proposed transaction.
- A review and examination of your sale/purchase contract and the Seller’s deed.
- Explain what you are committing to contractually, with highlights of any clauses that may be unusual or risky, as well as remarks about matters which you might want to consider renegotiating before you sign.
- An independent assessment of the professional fees, transaction fees, and property taxes you should be paying—whether you are the buyer or the seller.
- Advice and information about what structures need to be in place to ensure the property closes efficiently for tax purposes: when you are buying, ensuring that the contract and title are properly documented; when you are selling, how to claim current tax allowances on capital gains.
Service Fee: For the initial consultation and review with a written report, the fee is US$560.
The fee includes the support service as described above and will also include an estimate to supervise the entire transaction including Foreign Relations permits, appraisals, escrow fees, bank trustee fees, (if applicable) no liens and property tax certificates and full registration in the state where the property is registered—which are optional additional services you can purchase if you want or need these. Fees are billed directly by The Settlement Company® who accept payments in the US, or in Mexico.
