Acapulco Real Estate

Some do's and don't about how to buy or rent real estate in Acapulco without running into problems.

If you’re planning to come to retire and live in Mexico with never having visited, think carefully beforehand. If this is your first trip, rent a place and live here for a few months to get a feel for the country before investing in property.

Acapulco Real Estate

Housing in Acapulco comes in all shapes, sizes and prices but you can find reasonably priced properties in major resort areas. Bargains are hard to come by because everyone wants a house with a view and a pool in a good area and in good condition.

Generally speaking, owners will not accept a partial payment plan offer or an option to buy contract. To Mexican property owners an option to buy contract is a rental contract. As far as they’re concerned, once someone has possession of the property they effectively own it and it is a very difficult, expensive and time consuming process to get them out if they do not pay (many Mexican’s won’t rent to fellow nationals for that reason).

That means that access to the property without full payment is the exception and not the rule. It’s still worth trying if you have a decent down payment and relatively short payoff time and the chance you’ll suceed is stronger if you’re a foreigner, but don’t count on it.

Solutions Abroad has learned that it is possible to write a contract for a property sale that enables the owner to throw out the tenant / potential buyer is he or she fails to pay up.

Renting Property in Acapulco

Rental houses are a different case. It is hard to find a decently priced, furnished house in a good area. Rental payments generally work out as 1% of the value of the property per month. So a $100,000 house is $1000 per month. There are of course cheaper places but one generally has to sacrifice something – a view, the condition of the property, the neighborhood and so forth.

If you have several couples coming with you or a group of friends, consider renting a house in Las Brisas or a similar area. Properties are fully equipped and the only thing you have to supply is food and beverages. The cost of these houses runs from $300/day to over $1000/day  and are value for money in terms of the luxurious conditions that they offer.

If you speak Spanish check out the local newspaper classifieds for houses and condos. If you are looking to buy a place you can contact the owner direct but be careful. Make sure the person you are dealing with is really the owner of the property and make him produce proof of ownership before you progress. Do not hand over any money until you are sure he is the rightful owner. Do not accept utility bills as proof of ownership.

All property transactions are done through a special type of lawyer called a notaria. If you can find out who the notaria for the property in which you're interested is, go and ask him about it. Once you are absolutely sure that you are dealing with the owner, have a notaria hold the money along with an agreement on what it takes to release the money. Do not hand the owner a check.