Is buying property in Mexico a safe investment?
If you are thinking of buying a property in Mexico and are not sure that it is a wise investment, take this in consideration:
If you are buying property in the US
The way to making sure you have a good and safe investment is common sense. The basic rule to consider is “If you would not do it on the US, don’t do it in Mexico”.
- Do you jump right in or do you do your research?
- Do you go to a certified and trusted realtor or do you use the first one you find in the phone book?
- Do you make sure that the property has no litigation problems or do you buy anyway?
There are means to making sure your investment in Mexico or Baja real estate is secure, you should know them and use them.
Years ago there was a situation in Punta Banda that raised concerns with buyers, here is the story:
The land of the development, the Baja Beach and Tennis Club, was a farming cooperative or ejido, which presenting themselves as legal owners made an alliance with the developer, the problem here is that these people, the ejido members, were really squatters, invaders, that had no legal claim to the land and therefore were being sued by people who had the legally registrated title documents.
All the information on this issue was available for review. It was common knowledge in Ensenada that the land in question was in dispute, some investors chose to buy knowing this, and others knew nothing. The result of the litigation was in favor of the plaintiffs and the buyers were evicted.
One important thing to consider is that since then, the laws have changed and there is more protection and information available.
As with every investment you should use professionals with a good reputation and longevity, seek advice and use the legal system, it’s there for a reason.