Can US citizens buy property in Mexico? Yes.

Can Canadian citizens buy property in Mexico? Yes.

Foreigners in general can buy private property in Mexico.

However, farmland is not private property.

Farmland is the property that only natural born Mexico citizens can own.

Many oceanfront communities like Sayulita, San Pancho, Lo de Marcos, were mainly farmland. The buyers would buy the property thinking they can be put in a trust later. That is possible, but it does involve a long process.

In a case like this, it is very important to have the right representation. A professional real estate broker is always needed by your side. We can make your buying experience a nice one.

Contact us for a free phone consultation.

Restricted zones in Mexico.

Foreign citizens can buy oceanfront property in Mexico. If the property is located in the restricted zones than a bank trust is required. The restricted zones are borders, beach and rivers. 100 kilometers from the border. 50 kilometers from the beach.

When the property is put into a trust, it does not become part of the banks assets. The bank is only the administrator of the trust. If the bank was going bankrupt, than you would take your property and switch banks.

You may switch banks anytime you wish, but it would involve closing costs. Closing costs can be around 5% of the sales price.

The only way the bank can keep the property, is if there was a mortgage default.

On the trust, beneficiaries are named. If there were no beneficiaries named, than a judge order or court order is enough to  claim  heredity. In any case, the bank will not keep the property. Unless there was a mortgage that was not paid.

After purchasing a property in Mexico, you can begin the process of residence with Immigration. The property purchased becomes the legal address.

We are available anytime to answer questions, comments, fears, doubt or suggestions.

We make your move to Mexico a pleasant and smooth experience.

Check out the video below for an in depth explanation of how foreigners can own real estate in Mexico.