Investing in Cabo
Buying property in Los Cabos is not difficult. There are a variety of options available to you within multiple budgets that would offer you the lifestyle you desire. We are sure you have many questions and we are happy to help…hopefully a few will be answered below.
Will I actually own the home?
The short answer is YES!
The Mexican government has set up a system that allows foreigners to purchase property close to the water using a bank trust.
This system has proven to be very reliable and gives you full ownership that is completely transferable.
So yes you will own your property.
Is financing available?
More and more financial institutions are funding foreigners with traditional style mortgages. These mortgage companies and banks are secure and offer a variety of rates and terms.
You also may find a developer who is offering builder financing. These can often be great deals if you are willing to wait a short period of time for occupancy.
Owner financing is another popular option that continues to grow in the Los Cabos area.
What are the closing costs?
Closing costs in Mexico can vary greatly from purchase to purchase depending on the type of purchase, the amount and the exchange rate at the time of closing.
These costs are not high but serve to protect you and your investment.
Choosing a professional to assist you through this process will add to your confidence in the sale and your overall piece of mind as you move forward.
Ecstacy. Living. Joy.
What currency do I use?
Both pesos and USD are used in transactions here in Mexico. Usually the “gringo” population works in USD while the local population operates in pesos.
You will sometimes find a price listed in both but be aware that those prices are often subject to the exchange rate and may change at any moment.
Your Canadian funds will have to be moved into either pesos or USD to complete a tranaction here in Mexico.
How long does it take?
As a foreigner you will have to secure a bank trust (Fideicomiso).
This extends the closing period on purchases by foreigners. Expect the entire process to take between 30-60 days to complete.
Once you have a contract in place your deal is secure and you do not have to worry about your deal falling through.
What are my options after I buy?
Once you have purchased a home in Los Cabos you now own an asset that is growing and valuable.
You may choose to use that home full-time, part-time, or even not at all for a few years until you are ready to retire.
In the meantime we offer a rental service which will assist you in marketing and booking your home to tourists and buyers like yourself. It truly is a great investment that can pay for itself.
Get In Touch
First contact is about discovery. Let’s discover each other and become friends. Then we can talk investment.