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Preparing to Sell your Real Estate in Mexico
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By Linda Neil
 Buying and selling property can be stressful. Here in Mexico it can be both stressful and challenging, As in any country, if you do your homework and use the service of a professional title service company, life will be easier for you. Unfortunately some sellers don’t have all their title documents in order. Perhaps someone on title is deceased and probate is required, or a special filing with the trustee bank is required. Possibly the ownership interest has not been registered in the public registry or foreign investment registry in Mexico City.
Sometimes a subdivision permit hasn’t been obtained, or property taxes are in arrears. Things like this can create delays that last, months or even years and can cost a great deal of money in lost time and penalties. Meanwhile buyer/seller money changes hands and the real estate agent may receive his/her commission without the transaction being completed and the new owner having a registered title.
Transfer of title in Mexico normally takes about ninety days. On occasion, it can be done more quickly if the real estate companies involved in the transaction do the necessary work before the sale is made. At a recent meeting of Multi List LosCabos, an agent reported a transaction where the title transfer had been accomplished in sixteen days. This was achieved, because all title documents were in order BEFORE the property was listed for sale with a real estate company.
The Settlement Company will review documents for people who want to offer their property for sale and will provide a report on what is required to be sure everything is in order at the time a buyer is found. There is no charge for this review. Sellers who are interested in this guidance should submit a copy of their deed, the latest property tax receipt and statement from their trustee bank. Documents will be received and reviewed, generally within two to three days after received, together with an estimate of costs to make the adjustments and corrections necessary to obtain a quick closing at the time of sale.
About the author:
LINDA NEIL is the founder of The Settlement Company, which specializes in real estate transfers and escrows. Licensed as a California real estate broker, she has pursued her profession in Mexico for over thirty years. Her skills in negotiating contracts between parties from three distinct cultures have placed her services in demand as a consultant and for speaking engagements on Mexican law and customs in Mexico, the United States and Canada. She has been widely published on the subject of real property in Mexico. Memberships; FIABCI, AMPI and NAR. Linda is a former member of the National Advisory Council of AMPI and has served as AMPI Coordinator for the state of Baja California Sur.
For reprints or further information, please contact The Settlement Company: in Mexico: 01-800-627-5130 International: 1-877-214-4950 or 011-52-612-123-5056FAX: (011-52) 612-123-5056. E-mail
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e-mail address is being protected from spam bots, you need JavaScript enabled to view it , website: http://www.settlement-co.com the settlement company ®
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