These are the steps which generally need to be followed after your
offer has been accepted.
Buyer and seller submit personal
information and information about the property to be transfered.
Review and approve the Estimate
of Costs for the transfer. Wire transfer the funds required for the initial
part of the closing process.
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Click on the name to see a brief description of what the transaction is about.
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Sign registration and consent to
Sign Settlement Instructions
a title investigation
Certificates and permits are
All documents, including
bank instructions to the Notary Public are reviewed for accuracy.
Verify Seller's Capital
Gains Tax. Inform Seller and Buyer of the amount to be set aside for this
Review the draft of the deed.
Coordinate the signing of the deed by the Seller and the bank. Order title
insurance. File preventative notice with the Public Registry office.
Deed is registered in the property
tax and public registry offices. Final accounting of all funds handled through
The Settlement Company is prepared. This is sent to the Buyer, together with
the deed, a translation of the pertinent parts, and, hopefully, a check for the
"fee-day-co-miso", this is the trust document that is required for
non-Mexicans who purchase property in the "restricted" zone; along
the coasts and borders of Mexico.
FOR FURTHER DISCUSSION OF THE BANK
This takes place when the seller
or an independent lender makes a loan secured by the property. Buyer receives
title and possession, subject to payment of the remaining balance to the seller
or the lender.
When the property being purchased
is already in a trust the Seller of the rights in the trust may simply transfer
his/her rights in the property. Trust remains with the same bank and expiration
date for the term of the trust does not change.
Property may be acquired by a
foreigner in the interior of Mexico in a direct deed without the need for a
bank trust (fideicomiso). Non-residential property in the coastal and border
areas may also be acquired by a Mexican corporation with 100% foreign capital
in a fee simple deed, without the need for a bank trust.
This transaction may take place
if you obtained a loan on a Mexican property from a Mexican or foreign
individual or corporation.
In the event you do not wish to
acquire the rights in an existing trust (through an Assignment of Rights), we
can request cancellation of the old permit and obtain a new one with a term of
Among other rights you have under
a Mexican Bank Trust (Fideicomiso), is the right to change the trustee (the
banking institution) in the event you decide to do so.
You may have a need for one of
many other services which we may be able to provide for you. Please e-mail us a
description of your needs as fully as possible. We will be pleased to provide
you with information and/or suggestions as to how to resolve your situation.