Rule #1 when considering real estate investment in Mexico: Always ask! Don’t assume it works the way it did when you bought in the US or Canada. Judicial recourse in Mexico is time consuming and difficult, you don’t want to go there. Use your head and buy with your brain, not your emotions.
Rule #2:Get a(n informed) second opinion! There are many local attorneys who can represent you and help evaluate your purchase. The ANA can provide references.
Rule #3: Sometimes ‘facts’ turn out to be just opinions, and even well-meaning people can tell you what they think they ‘know’…and turn out to be wrong. A good real estate agent with a solid reputation is a great place to start, but this is your investment; it’s up to you to educate yourself and learn the facts so that you’ll be happy in your new home in Paradise.
A Good Place to Start: AMPI
At this time, not all Real Estate agents in Mexico are licensed, which means that there are not established and universal standards of basic knowledge and integrity. Your agent – or the agent representing the property you’re interested in – may not have the necessary knowledge to properly protect your interests. AMPI Real Estate agents, on the other hand, have special training and sign on to a higher level of integrity and client representation. If an AMPI agent or agency isn’t representing a property or showing it to you, there’s probably a very good reason.