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As you are bound by contract, the promises on it must be complied with. This means that the seller must transfer the property into your corporation or the Trustee Bank. It also means that you must pay the balance due on the total price of the purchase.

One method offered to foreigners purchasing Mexican property via a bank trust or fideicomiso. This is the only legal alternative available to individuals who wish to purchase property within 100 kms (60 miles)from the border or 50 kms (30 miles) from the seashore. There are other restrictions on using a Fideicomiso as well. Foreigners who form a legal Mexican corporation can purchase property in restricted Zone or anywhere else they choose. Corporations have their own set of requirements however and are always the best choice. We offer expert guidance in determining the optimum method for each individual transction.

In Mexico, representing both parties in a closing is NOT prohibited. The selling agent can be relied upon to represent the seller's interests. Any conflict of interest will invariably be decided in the seller's favor by that agent. You should provide your own representative. Having legal representation will assure your individual rights for any transaction.

You do not need to attend the closing if you don't want to. In fact, if you would like to save the cost of the return visit, you may close in absentia. The closing can be handled via FedEx by Ballote and Associates. You may, just as in the U.S., authorize your attorney to execute the final documents for you to close in absentia. This is a common practice and a high percentage of our clients chose to close this way.

No. There are real estate laws, protecting the rights of property owners whether they are foreign or domestic.

Either way is legal, but, There are a list of limitations for the creation of the Trust. A Mexican corporation, wholly owned by foreigners, can be the Mexican entity required by the Constitution to own property in the Restricted Zone. Now, foreigners can own the Mexican corporation and hold all the papers to it. Your Mexican corporation holds the deed, which means, you get to personally possess the deed. You no longer need to go through the bank to get approvals to build, sell, or improve your property and there are no bank fees. An added benefit to establishing the Mexican Corporation is that your corporation can own more than one property. You do not need to form a separate corporation for each property, as is the case with the Bank Trust system. Also, if you should decide to sell your property in the future, you can sell your entire corporation, all of your stock, sell part of it, some of your stock, or sell just the property out or it, and keep your corporation. Also, after you buy property via the Corporation system, you are permitted to file a dormancy election, which means, your company is "asleep", until you decide to activate it. The government intentionally made it very easy for foreigners to own property in Mexico. So much so, that in 1998, the Mexican Government noticed that the revenues from the Industry of Foreign Investment & Tourism, surpassed the revenues from the Oil & Gas Industry. Foreign investment & tourism is now their main source of income and the Mexican government welcomes your participation.