|
A Mexico real estate
or business transaction should require no less documentation
than in your own country. A Mexico attorney should review the
transfer and closing documents and a title insurance company
should guarantee the Mexico land title. It
is always advisable for a buyer to retain professional real
estate services for analysis of the many factors which can affect
the value and security of your real estate investment.
Mexico title insurance
is the cornerstone of any Mexico real estate investment.
Mexico title insurance
from major USA title companies has been available in Mexico
for many years. Mexico has been slow to recognize the need for
title insurance where foreign investment is involved. You will
find many who will say that title insurance is not necessary
in Mexico. Would you buy property in the USA or Canada without
title insurance?
Please be advised
that the very important local Notario who handles your transaction
is acting without any liability for his service. The Notario
is not liable for defects in title and the Notario is certainly
not liable for lack of disclosure from the seller. Without a
proper purchase contract, a foreignor's recourse to the Notario
or seller is non-existent. It is highly recommended that you
get it right the first time around!
Mexico title insurance
should not be viewed as an option. Averaging maybe 1.5% of purchase
price, title insurance is a no brainer "must have"
when contemplating a Mexico real estatae investment.
Also, it is always
nice to end up with the property you thought you purchased.
A Mexico title insurance policy will be an asset should resale
ever be an option.
First American Title Insurance Company and Stewart Title offer secure title insurance for Mexico and other countries. |