Purchasing a Home in Banderas Bay

The lovely climate, safe environment, access to excellent healthcare and relatively inexpensive cost of living are all factors that make the region of Banderas Bay a popular choice for foreigners to purchase winter or retirement homes.  Luxury Beach provides insight into the 3 people that you need to know to purchase your dream home in the Puerto Vallarta area:

1. Your Agent:  purchasing a property in Mexico is quite a different process than purchasing one in your home country.  Having a qualified and knowledgeable agent will not only help you locate the perfect vacation home in Banderas Bay and negotiate a fair price, but will also be invaluable in assisting you with the legal requirements of purchasing your new property. 
2. Your Notary:  all real estate transactions in Mexico are processed through a Notary Public which in Mexico is the highest legal authority for purchasing agreements.  Your Notary will draft all of the contracts and deeds required for your new home in Puerto Vallarta.  Many Notaries provide bilingual services and your Luxury Beach representative can assist you in finding the best Notary for your needs.
3. Your Bank:  foreigners purchasing property in Mexico within 50 kilometers of beachfront must enter into fidecomiso, or bank trust, with a bank of their choice in order to own property.  The bank functions basically as a silent partner in the purchase of your property and will need to remain as such for the duration of the time that you own your property, requiring a yearly fee to do so. 

Buying real estate is always a detailed process and more so in a foreign country, but having the right people with whom you feel confident on your side can make your search and purchase a much less complicated procedure.