Yes! You can own property in Mexico, and we are here to help make the process easy and understandable.
We will accompany you step-by-step and introduce you to all the people and resources you'll need to purchase your home with complete peace of mind.
 I’m sure you have questions about owning property in Mexico. So let’s start there.

WHAT IS THE RESTRICTED ZONE?
The Mexican Constitution regulates the ownership of the land established that "...in a zone of 100 kilometers along the border or 50 kilometers along the coast, a foreigner cannot acquire the direct ownership of the land". These areas are known as the "Restricted Zones". Nevertheless, the latest Mexican Foreign Investment Law, which became law on December 28, 1993, makes the allowances mentioned below.

WHAT IS A FIDEICOMISO?
Any foreigner or Mexican National can constitute a Fideicomiso (the equivalent to an American beneficial trust) through a Mexican bank in order to purchase real estate anywhere in Mexico, including the Restricted Zone, To do so, the buyer requests a Mexican bank of his/her choice to act as a trustee on his/her behalf. For practical purposes, even in unrestricted zones many foreigners, and Mexican Nationals for that matter, prefer to hold their property under a Fideicomiso.
The bank, as a matter of normal course, obtains the permit from the Ministry of Foreign Affairs to acquire the chosen property in trust. The Fideicomiso can be established for a term of 50 years and can be automatically renewed every 50-years. During these periods you have the right to transfer the title to any other party, including a member of your family.
The trustee is responsible to the buyer/ beneficiary to ensure precise fulfillment to the trust, according to Mexican Law, assuming full technical, legal and administrative supervision in order to protect the interests of the buyer/beneficiary. Fideicomisos are not held by the trustee as an asset of the bank.

WHAT IS A NOTARIA?
A Notaria or Public Notary is the highest legal authority in Mexico, it is necessary for you to involve the public notary of your choice as soon as you start with the buying process, he or she will make sure to do everything by the book and in the safest way for you to write the contracts to protect all parties involved.
How do I pay for the house?
Most homes in Mexico are purchased outright with cash but Now we can help you get financing! With all the problems with mortgages in the US mortgage companies are now looking for more stable investments and Property in Mexico has proven to continue to rise in value year after year and with the Fideicomisos this insures clear title and ownership.

At Paradise Yucatan we work with several different lenders and mortgage brokers. This is what to expect once you decide to get a mortgage.
First mortgages here are all with a 20% down payment and are not for less then 100,000 dollars. Which means you will need to buy a house for at least 120,000 dollars to be eligible for financing.

Let our mortgage broker pre-qualify you by phone or email this takes approximately 10 minutes. This will give you an idea of what you can purchase,

Select a wonderful propcrty and make an offer.

Write your contract contingent upon Financing, include a 90 day closing. You will probably close in less than 90 days but you want to protect yourself.

Now make a formal loan applicacion which will verify your information, We can provide you with loan application and credit authorization forms, Your real estate agent may have these as well.

Provide your contact information, when you are interested in closing you loan and contact info for the real estate agent with whom you are working.
You will be able to close quickly and with minimum headaches.
Enjoy your new home…