It has never been easier to own a home in cabo. Buyers require due diligence when buying a property just like anywhere else. With the help of a real estate agent you will be assisted from start to finish the whole process. The parties involved for the transaction are the buyer, seller, escrow agent, closing agent and the notary public.
The documents needed as a buyer depend on the type of closing as well as how the buyer wants to take title (As an individual, an LLC or a Family Trust). In general, the needed documents are:
- ID (Passport, driver’s license)
- ID for substitute beneficiary (Passport, driver’s license)
- Recent Utility Bill (it can be a gas bill, electric receipt, bank statement or water bill any of these that shows your residence address).
- Filled Trust Application
You can stay in Mexico for 6 Months (180 days) without a tourist visa.
One of the most important things is that property ownership in Cabo is through fideicomiso. In other words you will need a mexican property trust that covers lands that are 100km from the borders and 50km from the coast.
The Fideicomiso is a 50-year, renewable bank trust granting a foreign Buyer the right to use, enjoy, improve, rent, sell or otherwise enjoy the property. The foreign Buyer is called the Beneficiary of the Trust. As the beneficiary, you retain all ownership rights and responsibilities to the property and have the right to sell, lease, improve, mortgage or will the property to your heirs. Essentially, the beneficiary of the property enjoys all the rights he would if ownership were fee-simple. The parties involved with a Fideicomiso are: The Trustee, (The Fiduciario, Bank or Trustee), the Purchaser (The Fideicomisario or Beneficiary) and the Seller (the Fideicomiente).
Cabo is one the safest places in Mexico to live. Covid wise was named the world’s first VERIFIED travel destination after nearly all of its hotels earned an independent health validation from digital health company Sharecare.
With a return of investment of nearly 10% a year of the property, Cabo is growing exponentially with national and international investment for the high demand that is attracting from around the world.
Depending on your needs, it will be very easy for us to find you the right neighborhood. There are plenty of developments to choose from, such as Rancho San Lucas, Vista Mar, Montage, Pedregal, Marina, Puerto Los Cabos etc…
Our agents are commited to find you always the best deals.
It may vary but approximately 30 – 60 days.
The Buyer is the one responsible.
Personal financing by the owner.
Developer payment options in presale:
30% Down payment – 40% in payments during construction and 30% upon delivery.
50% Down payment – 30% in payments during construction and 20% upon delivery.
80% Down payment – 20% upon delivery.
A mortgage can finance between 50 and 70% of the value of the property, with rates between 7.5% to 11%, plus a differential for risk. This might be 1 to 3% depending on your financial situation and the percentage of the purchase price to be financed.