If you own property in Mexico, then you want to make sure that you know exactly what you can and cannot do with it. One of the biggest things to keep in mind is how to move it around as needed. Are you able to sell it? If so, how? And to whom can you sell it? It’s all below for you so that you know what’s what. You’ll be happy to learn that there are no nasty surprises. It’s just all about knowing the proper processes and procedures!
If I Decide to Sell My Property Can Anyone Buy It. Can I sell my property in Mexico? Yes! If you’ve bought a property in Mexico, then you can sell it. If you’ve got the property under our own name (assuming you are outside of the restricted areas), then you will be able to sell it just like any other kind of property. There is a set process to sell it and pass the deed over to that new person that is going to be familiar to anyone who’s done that before.
If the deed is not in your name, the person who holds the deed will need to be involved. However, this is unlike anything else out there as far as buying or selling! If you have permission to buy and sell, then you will be able to do so in Mexico.
What if a bank trust holds my property? If you are looking at the idea of selling a piece of property that you purchased through a bank trust in Mexico (like you would have if the property is within the restricted areas), then you are still perfectly able to do it. Any Mexican citizen can buy it from you via your bank trust, and this kind of thing is done regularly, so there is nothing to be concerned about.
Can a foreigner buy my property? Yes, you can sell your property to another foreigner who is interested in it. This is also done all the time since foreigners often enjoy the same kinds of properties for obvious reasons! However, this complicates things a little bit.
Firstly, this foreigner will have to be allowed to buy a piece of property in Mexico. As you may already know, this means that they’ll need a tourist visa to do so. They do not need to be a temporary resident in Mexico to buy property.
The other thing is that they will need to have a bank trust set up and approved before they can buy property in Mexico within those mentioned restricted areas. This will need to be established and ready to go before the sale will go through. However, after this is done, it is simple and straightforward!
Selling your property in Mexico doesn’t need to be challenging or stressful for those who are looking at the idea of moving on for whatever reason. Property is purchased and sold all the time by Mexicans and non-Mexicans. As long as it is done through proper channels, there is nothing to be concerned about!