Real Estate in Mexico
If you have decided to buy a house in Mexico, and do not want to spend "mucho dinero", you don´t want to miss the opportunity to look for properties in Central Mexico. The central areas are easier to travel, and the living costs are lower.
Real Estate transactions in Mexico include a variety of legal formalities (with professionals such as real estate agents generally employed to assist the buyer); taxes need to be paid; legal paperwork will ensure title; and a neutral party such as a title company will handle documentation and money in order to smoothly make the exchange between the parties. Increasingly, U.S. title companies are doing work for U.S. buyers in Mexico.
Unlike the United States some countries have laws regulating where foreigners can buy. For example, in Mexico, foreigners cannot buy or own land or homes within 50km of the coast or 100km from a border, it is considered a restricted area.
Title Insurance
Title Insurances does not provide ownership for the property, but instead it aids in the research and approval of past records in order to have a safe and problem-free transaction. This title is given by a Mexican Authority (Notario Publico), which is a government appointed lawyer, who processes and certifies all real estate transactions. Their job is to insure a legal and proper transfer.