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The majority of frequently asked issues about exclusive right to sell agreements cannot be answered in a single way. Each real estate agent will have a different preference for the length of a listing agreement. The typical days on the market should be taken into consideration when asking about the duration of a listing agreement. A 90-day listing agreement might not be sufficient if your local real estate market’s average days on the market are 75.
Yes, foreigners can safely buy property in Mexico and enjoy the full rights of ownership
Buying in México is quite different than buying in the USA. However, it can be done in a completely safe manner. The most important component in the purchase of real estate in México is a qualified, knowledgeable, local real estate specialist from a reputable, recognizable company working for your benefit. They can guide you to safely accessible property and guide you through the purchase process with the seller, lawyer, and notary.
In 1973 there was a constitutional amendment called Foreign Investment Law which allowed foreigners to purchase land in the borders and coasts by way of a Trust through a Mexican Bank (Fideicomiso). This trust assures the buyer all the rights and privileges of ownership and can be sold, inherited, leased, or transferred at any time.
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”.
There are means to making sure your investment in Mexico or Baja real estate is secure, you should know them and use them.
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.
The Federal Zone is the beachfront property up to 20 meters inland that not even Mexican citizens can own. Under the Federal Maritime Land Zone Law, this part of the Mexican territory belongs to the Federal Government.
If any foreigner or Mexican citizen were to make use of the land, they must request a concession from the Federal Government which will charge a fee that depends on the use that the portion of the property will be given. The concession is only temporary and the government may renew them for specific periods of time.