With perfect weather, an affordable cost-of-living and a vibrant LGBT community, who doesn’t want to live in Puerto Vallarta? And if you’ve been searching for your perfect dream home but can’t find just the right property to fit your vision, maybe it’s time to consider custom building your Vallarta home.
For foreigners, purchasing land in Mexico is a slightly different process than buying property in their home country. Firstly, all real estate transactions here go through a notary, which in Mexico is the highest legal authority for home or property contract law. Your notary will facilitate all contracts and agreements needed for you to feel confident about your purchase and the average closing time will be approximately 1 month.
Foreigners will need to enter into a fideicomiso with a bank to own property in Mexico, which is essentially a bank trust that allows non-citizens to hold the title on Mexican land. The fee for the fideicomiso is a percentage based on the land value and there is a small yearly charge for maintaining the bank trust. However, the purchaser’s name will be on the property deed and they will maintain full control over the property.
A local architect will help you with designing the plans for your home and offer their services at rates that most foreigners will find very affordable. Your architect will also attend to securing all permits that are necessary for building on your property and can function as an overseer for your contractor and advise you on issues like insurance for builders that are working on your construction.
Visit the GAYPV Directory of Services to find real estate offices, lawyers and other professionals in the LGBT community that can help you build your fabulous dream home in Puerto Vallarta.
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