The “Notario” and the real estate transaction
: You’ve found the perfect place to purchase in Bahía de Banderas. Now, meet your Notario. Although the translation of “Notario” is “notary public,” the Notario in Latin American countries has a very different role than the notary in the United States or Canada, who authorizes signatures.
Appraisers in the Real Estate Process
: You’re ready to commit to a property in Mexico – now comes the paperwork phase. Actually, this is pretty painless when managed by a competent Notario, or notary.
: That beautiful home or condo on the bay is now yours, and you’re planning to enjoy more time in Vallarta. Not meant as a dire prediction, but a practical approach, you may need to spend some time in a lawyer’s office in Mexico, as well.
Fractional is the new high-end product
: Of a recent real estate conference in Mexico City, local developer Miguel Angel Lemus says, “I discovered the new evolution of the real estate market, how it’s moving toward a new phenomenon that combines lodging elements.”
While Los Cabos and Cancun...
: ... seem to always be in the news as appealing Mexican destinations, Puerto Vallarta has been keeping a low profile in the background. And while the spotlight’s on them, it is actually Puerto Vallarta that has created this country’s largest resort real estate market – more Americans own homes in “PV” than in the other two cities combined!
The Attraction of Fairway Homes
: Residing on a beautiful golf course and owning prime Costa Vallarta real estate is any golfer’s dream. As the sport fast becomes a favorite pastime for many seniors, snowbirds and year-round residents, this dream is becoming a reality for many.
: Lights twinkle on soaring masts against the twilight sky, as boats rock gently in their moorings and buoys chime soothingly in Vallarta’s sweet breeze. It’s a beautiful scene, and one that can be easily enjoyed in the Bahia de Banderas without ever boarding a boat. Dockside life can be enchanting from the terrace of a marina home.
: Have you seen that perfect property on the bay, but you’re not quite prepared to cash in your US or Canadian investments to make it yours? Are you set to make the move to Puerto Vallarta, but just a bit shy of ready cash for a condo? Now you can stock up on suntan lotion, because mortgage financing has come to Mexico.
How to Buy Real Estate in Vallarta
: It is a common misconception that foreigners cannot own real estate in Mexico, but the reality is that they can. Outside the Restricted Zone, defined below, a foreigner or foreign corporation can acquire any type of real estate, holding the property as a direct owner complying with Mexican law.
Useful Information for the Real Estate Owner
: At the beginning of every year, you need to pay property taxes (Impuesto Predial). If they are paid in January, you receive a 15% discount.
Explanation of Closing Cost
: When a property is acquired through a Purchase-Offer or when a Trust Transfer Domain is carried out before a Notary Public, in order for them to be legally constituted they must meet with a series of permits and expenses
Realizing the Dream: Making the Move
: Before you embark on your idyllic new life by the bay, there are some details to consider.
Puerto Vallarta Real Estate Update 2004
: Today, real estate in Vallarta is very different than it was five years ago. In most cases, the real estate options available are different, the players are different and the “hot” regions are different.
From the Dream to the Key: Architecture in Puerto Vallarta
: During the Renaissance, Michelangelo listed architecture along with painting and sculpture as art that delights the senses.