12 Best Platforms for Searching Real Estate Properties in Mexico

 

Author: Pedro Robin

30 May, 2024

Searching for properties in Mexico is hard for non-resident individuals who want to find properties that match their requirements. These platforms are made by companies that want to showcase and provide a more detailed list of available properties for sale to those who search. Mexico is a big country with lots of really nice properties that are rare to find only on foot. Search for real estate properties in Mexico through a mobile application or web platform. The main features are providing the top property list per district or city, type of property list, selling or rental price, and location. It is manageable without going out to visit to set an appointment. The estimated price is viewable as well, which suits the budget range of the buyer. The realtors are online as well for inquiries and negotiations. The real estate platform is made available in the digital space so that realtors, property sellers, and property buyers are able to get in touch to make purchasing decisions without the hassle of setting an appointment. The platform is essential for realtors as they are able to advertise lots of properties to different buyers and allows them to be contacted anytime a potential buyer asks for something. The real estate platform allows anyone to search for other properties in just a few clicks. It saves time and effort until the search is narrowed according to the buyers’ specifications.  

The top 3 best platforms to search for real estate properties in Mexico are listed below. 

  1. Realtor.com: The best platform for over 80 countries including Mexico. 
  1. Mexlife.com: The best platform to search for properties in Puerto Vallarta, Mexico. 
  1. MercadoLibre: The best platform to look for properties and anything else. 

How to find Real Estate Properties in Mexico?

Finding real estate properties in Mexico, it is either finding it on foot or just finding it over the internet. There are lots of properties for sale that are posted on the internet or even on social media, but the problem is that most listings need to be verified. Someone that is not a resident in the area is not going to have as much information because of the lack of information and communication from the seller to the prospective buyer. Real estate websites are the answer to those questions about the details and other important information that a property owner must provide for the buyer to have a decision before starting the buying process.  

Listed below are tips on how to find real estate properties in Mexico. 

  1. Look for a Realtor: It is best to seek the advice of a real estate agent or realtor. Most of the experience of prospective buyers that look for a property by themselves leads to finding the wrong property or worst not worth the investment according to the NAR or National Association of Realtors. Realtors provide the list that the buyer has in mind from the budget, location, size, and neighborhood. Having lots of properties to choose from enables the buyer to narrow down the list until reaching a decision. It is more convenient to include the service of the realtors for them to give the right advice in order not to get into trouble, especially with the fees.  
  1. Search It Online: Searching properties physically is a stressful thing to do. Exerting effort that only ends to have found 2 to 3 possible properties is not an efficient way. All the things are on the web today. Searching for available properties in a specific area only takes a minute to find one. Visiting the actual property is the best way to determine the worth of the property, but taking at least 5 to 10 listings out of the search on the internet is worth the time spent. There are plenty of real estate websites on the internet that are able to provide all the necessary questions that a buyer wants to ask. 
  1. Ask the Homeowners: Asking the neighborhoods and owners of some homes about the desired location is a great idea as well. Knowing that the place is appealing to one, it is a good thing to ask someone, especially the homeowners, if there are available properties for sale or rent in the area. Interviewing the homeowners lets someone know what type of neighborhood there is according to their answers, and it is a great way as well to introduce themselves as potential buyers or renters if the transaction pursues. 
  1. Know the Process: Being knowledgeable of the process helps the procedure end well because the documents and attachments to the buying process are all gathered before the start. It is the best way not to be tricked by any scammers or muggers. Having to know what procedures are going next determines when the processing is going to end, and that makes it time efficient. 
  1. Look for Auctioned Properties in the Courthouse: The last option is still the best if there are opportunities for available properties in the courthouse auctions. The foreclosure properties are known to have a tax sale that requires them to go through a public auction. It is best for house flippers or business people that are going to sell or let someone rent it after renovating it if needed.  

Where can I find the Best and Cheapest Real Estate Properties in Mexico?

Finding the best cheapest real estate properties in Mexico is very hard when searching manually either door to door or asking locals in Mexico. Using a platform or visiting a real estate website marketplace in Mexico enables the searcher to get a top list of possible properties that are fitted according to the filtered requirements of the investor, especially based on the budget. Using a real estate app or searching on a real estate website allows anyone to find the best, and cheapest real estate properties in Mexico. It is hard to find it on foot, and there are other buyers as well that are looking for the best and cheapest every second, especially the highly desirable properties of Mexico. Making a call to a realtor helps ease the process while digging into the properties available on the web to have more choices. Real estate agents, that are locally situated in the vicinity of the property, allow the process to go smoother as they are well aware of the place and know what are the only documents to present to process the transaction. Social media is one quick way to find fresh listings because all the companies now see the opportunity of how social media is helpful for businesses. 

What are the tips when looking for a Property in Mexico?

The tips when looking for a property in Mexico come from experts, especially realtors. Knowing what are the requirements and the number of procedures that need to undergo until the process ends. Buying a property in Mexico for commercial or residential use is a smart move. However, foreign individuals are not able to buy properties within the restricted zone according to Mexican law. The best possible way is to seek advice from realtors. Before doing anything else, first is to identify which places are desirable to buy that suit the needs. The restricted zones have the best properties anyone looking for in Puerto Vallarta. Most foreigners are not able to buy properties within the restricted zone but seeking advice from a realtor in the area is a must. Realtor is able to provide the necessary procedure to avoid getting extra steps that are going to cost them for no reasons. The government allows buying within the restricted zones as long as there is a proper procedure. Mexlife.com is an expert on restricted zones and is able to assist anyone that loves to buy properties in the area, especially in Puerto Vallarta. It is ideal to ask or hire a real estate agent to have a smooth process and troubles along the way as primary Mexico tips for buying property. 

What are the things to Prepare when Planning to buy a Property in Mexico?

The things to prepare when planning to buy a property in Mexico are personal identification, documents of intention to purchase, the offer of purchase, and all that the realtor and lawyer ask before proceeding with the process. The primary requirement as a buyer is to select which property it is to start. Knowing all the information such as an address, land area, documents, and history of the property. Once the buyer is satisfied with and has the intention to pursue the buying, both parties must agree with the terms and conditions, including the price of the property. The form “Offer of Purchase” includes the deport details, the sellers’ deadline to accept the offer, terms of purchase, selling price, and payment terms. During the process, it is best that the real estate agent is in between the negotiation, as they are knowledgeable about what documents need to be used for the agreement to pursue and close well. Both parties have to sign the buying and selling agreement, which requires the buyer to deposit about 5 to 10% based on the total amount of the selling price. It is to ensure that the buyer is committed to the procedure. It is best to consult a lawyer when transferring money or depositing a certain amount, just to verify if the fund is held under a condition. The lawyer is able to help once there are difficulties along the way or prevent any unwanted steps that are not necessary. Lawyers are able to provide draft required documents and recommend how to save fees and taxes that involve buying a property in Mexico. The buyer must have the necessary documents such as identification, and government-issued certificates, like a passport and residence permit if the buyer is a foreigner as part of the Mexico real estate investment requirements. Choosing a reputable escrow company that is going to mediate with the whole buying process is needed as well to have security. 

How to buy a Property in Mexico?

Real estate in Mexico has more to offer including amazing weather, scenery, and Latin culture. There are lots of affordable real estate properties in Mexico. The best thing is that foreigners are able to own Mexican property legally. Mexico is one of the top destinations among retirees that wanted to have vacation houses and permanent homes as well. Buying properties in Mexico is fairly manageable as long as there is a reliable realtor, the process is going to be smooth. Stated below are the things to consider when searching for property, analyzing the location of the property, and especially on how to buy property in Mexico. 

Listed below are the six steps on how to buy a property in Mexico. 

  1. Search for the Right Property: Searching for the right property depends on the preference of the buyer as to what type of property it is, where it is located, and how much it costs.  
  1. Come to an Agreement with the Seller: Having an agreement with the seller has to acquire a realtor that is going to provide the necessary information and requirements for the transaction to push through. The realtor is going to recommend a service such as escrow settlement for both the buyer and seller to have fair treatment. 
  1. Put a deposit via escrow Service: Putting a deposit under an escrow service enables the buyer to be guaranteed that the down payment is held safely once there are unclear transactions made by other parties or inaccurate information along the way. 
  1. Undergo Escrow Service for the Transaction: An escrow service helps both parties, not only the buyer but the seller as well, to arrange the settlement in fair and smooth order. It is best to choose an escrow service that has a reputation for being trusted for many years.  
  1. Pay closing cost: Paying the closing cost enables the transaction to reach the final process. It determines that the transaction has been approved, and the buyer is just going to wait for the documents to arrive after it has been approved and registered in the new owner’s name. 
  1. Observe the closing period: Observe the closing date while being in good communication with the realtor. It is a good practice for them to follow up with the office that is going to release the documents so that the escrow fund is going to be released to the seller. 

How much does it cost to buy a Property in Mexico?

Buying a property in Mexico needs to deal with the closing cost, which is often between 4.5% to 8% based on the property’s selling price. For the most part, the seller is accountable for the selling fees, professional service fees, and taxes. Paying a 10% to 80% deposit based on the selling amount of the property is required to start the buying process. The buyer is going to pay the closing cost. It is an additional 5% of the total selling price, these are notary, transfer tax, and fideicomiso setup fees. Sometimes it requires paying a two-year advance for the fideicomiso administration fee. The notary fee costs around 1.5% while the transfer tax is approximately 2% depending on the state, and is based on the total selling price of the property in Mexico. The information is based on the standard transaction for buying properties in Mexico, it is best to consult a real estate agent that is going to provide a guide so that unnecessary stages or fees are not going to happen. Make sure to talk to a legitimate realtor and not just a person in Mexico that is playing as a realtor, they have to provide the necessary information or identification being a certified real estate agent. 

Are Realtors a great help to find a Property in Mexico?

Yes, realtors are a great help when finding a property in Mexico. However, there are precautions when dealing with them, especially in Mexico. Real estate agents are not well-regulated in the country, unlike the US and Canada. People call themselves a realtor, even if they don’t have the license to be called one. Making sure that the person who is asked has the identification and is associated with a well-respected real estate company in Mexico. Always be aware of the fees they are collecting, as the broker fee isn’t that required at the start of the service only for people selling their property, buyers don’t pay real estate fees to brokers in Mexico. Mostly, the realtors are given a commission by the property owner once they bring customers that buy their property, so the buyer won’t need to pay anything. For buyers that seek the expertise of the realtors to find them a property, there is no need for a brokerage fee, so make sure that these terms are clear with the real estate agent as well. A legitimate real estate agent is a great help when dealing with all the necessary processes and avoiding those that are not needed, giving the buyer or seller peace of mind. There are 5 benefits to having a realtor. One, realtors help save time. A prospective buyer that searches on their own is not going to have a decision in the day because of some inquiries that need to be answered. Two, realtors help with negotiations. Local realtors are able to identify and estimate the type of property that must be priced, allowing them to take part in the negotiation process, making the transaction deserving of the budget. Three, realtors make the purchase signing process easier. Dealing with the purchase contract without a realtor is a time-consuming process. The realtor gathers all the necessary things for the client to sign in one go. Fourth, realtors are knowledgeable of the area. They are able to advise buyers to avoid areas or suggest other places. Lastly, the seller is going to pay for the realtor’s commission. Buyers are able to save payment for fees as the landlords have agreements with the realtors themselves. 

Can I use Social Media to find Properties in Mexico?

Yes, anyone can use social media to find properties in Mexico. Most social media sites today have marketplace sections included on their pages. It allows users to sell or buy items using social media platforms. Social media platforms have a lot of users, especially Facebook. It has the most users on social media as of 2022 and most used social media to promote affiliate products by advertisement. However, most properties that are found on social media are mostly ads and sometimes the social media pages push something that is not needed. Moreover, searching for a property search engine like Mexlife.com is the easiest way to look for the best properties. Mexlife extends its services by providing Realtors, or Real Estate agents. 

Pedro Robin

Based in Puerto Vallarta, Jalisco, México.