1. Choose the Perfect Unit
Work closely with your realtor to find a unit that fits your budget, lifestyle, and vision. Whether it’s a cozy beachfront condo or a luxury villa, there’s a property for everyone in this tropical paradise.
2. Craft the Offer
Once you’ve found “the one,” your next step is to submit an offer letter. Your realtor will guide you through selecting the best payment plan to match your financial goals.
3. Secure with a Deposit
After the offer is accepted, a deposit between $1,000 and $5,000 USD is usually required. This locks in your commitment and moves you closer to owning your dream escape.
4. Organize Your Documentation
Prepare the essentials: a copy of your passport, proof of address, and a bank statement from the account you’ll be using for the transaction.
5. Review & Sign the Contract
Your seller will provide a contract. Take your time, review it with a real estate expert, and sign when you’re confident in the terms.
6. Make Your Downpayment
Typically, the downpayment is around 30% of the purchase price. If you decide to pay more upfront, you might even be able to negotiate a discount. For presales, payments are often spread over 12 to 24 months, making the process manageable.
7. Establish a Fideicomiso
If your property is near the beach or a border, you’ll need a fideicomiso—a trust through a Mexican bank that allows foreign buyers to own property. Your realtor will handle the setup with a notary and a selected bank.
8. Finalize the Deed
A notary will validate the entire transaction and ensure all legal aspects are covered, giving you peace of mind that everything is in order.
9. Get Ready to Rent
If you’re buying as an investment, why not start earning right away? With property management services available, you can rent out your new home and enjoy passive income while you’re away.
10. Enjoy Your New Life in Paradise
Now, the keys are in your hand. Whether it’s your personal retreat or an investment property, you can relax knowing you’ve made a smart move in the stunning Riviera Maya. From sun-soaked beaches to cultural landmarks, this place is now yours to enjoy.
Owning a piece of paradise is closer than you think!
For more information contact INITIA Real Estate
