Yes, Americans and Canadians can own property in Mexico. The purchase price is different, so it’s good to educate yourself on the steps to be taken.
- ALWAYS work with a state licensed agent and a member of the local real estate association AMPI.
- Do Not send money to the seller. Insure you are using a reputable escrow company.
- Receive an estimate of your closing costs.
- Request a home inspection and seller disclosure report
- Work with a government approved Notario Publico
- Be prepared to show your IDS to include passport, driver’s license, electric bill
- Sources of funds must come from the back account of the individual purchasing the property