Peace of mind ...because if you have the vision, we can get you there.
Grupo Amerimex is a full-service Real Estate company with the power and experience to patiently
manifest your vision. Our English speaking staff is well acquainted with the legal, accounting and
immigration laws governing the purchase of property by foreigners.
We will provide comprehensive Title reports and U.S. Title insurance to guarantee the safety of
your purchase and to protect your investment. We can help the foreign investor establish a
Mexican Corporation and offer step by step assistance in setting up your business in Mexico.
Occasionally we are called upon for solving legal difficulties face-to-face, with our many
trusted associations within the Mexican government. We have an english speaking Attorney
in our office to assist us at all times. In addition, we have long-standing relationships with
Mexican & American Architects, civil engineers, structural engineers, geologists, water
specialists, land planners, contractors and accountants; who work with our office
and are available to serve our clients.
The following information is printable for your convenience, pages 2 thru 4
2009 Resource & Information
ESCROW SERVICES - Very few buyers elect to do their own closing because of language barriers, the many trips to La Paz and the often confusing legalities and red tap associated with filing for a Fideicomiso bank trust. Most use the services of a real estate escrow specialist or attorney. Our closing fees average $1000 and go up depending on the value of the transaction, associated services such as subdivisions, surveys or water contracts.
Great care must be taken when titling or the Buyer and Seller may incur unnecessary tax obligations, this is especially true with the fluctuating value of the peso. In a recent case, a Seller who insisted on handling his own closing failed to properly file supporting tax documents that would have exempted him from paying significant capital gains taxes.
INVESTMENT CLAUSE - All Fideicomiso trusts on properties larger than a half acre (2000 M2), are subject to an investment clause requiring that the purchaser invest a designated amount within twenty-four months. Properties smaller than half an acre are not subject to the investment clause. Presently the investment requirement begins at $250,000 and increases depending on the size and location of the property. When calculating the value of your investment all costs are included; land, construction, gardens, water systems, utilities and furnishings. You are not asked to produce records of expenditures and usually the overall property value estimate is based on the current commercial value.
IMMIGRATION and REAL ESTATE - Regardless of whether you title through a Fideicomiso or a corporation, you will need to change your immigration status from the basic FMT tourist visa to the FM3 residential visa. You can contact the closest Office of Immigration or contract an Immigration specialist to help facilitate the process. It will take two to three weeks to file for an FM3 and you must be here during the filing process.
Buying property in Mexico is easy and can be successful if you remember to seek trained help and get all the facts from a reliable professional, not the cocktail circuit or someone you meet on the street. Be as formal and thorough in your Mexico business dealings as you would be at home.
FIDEICOMISO-BANK TRUST - Foreigners most often purchase residential property through a 50 year Fideicomiso bank trust. A Fideicomiso trust is not a lease and never reverts to the original owner. Under the fideicomiso trust structure, the foreigner may sell the property, rent it and leave it to their heirs. The trust can be renewed at the end of fifty years. What happens after the second fifty year trust expires? Assuming you had not sold the property by then, you or your heirs would have the opportunity to renew it for another fifty years. When purchasing property with a Fideicdomiso trust, you will incur trust charges which include a permit from the Secretary of Foreign Affairs, recording fees with the National Registry in Mexico City, the first year annual administration fee, the bank acceptance fee and 10% IVA tax. Annual trust fees vary from bank to bank so you or your representative should shop the market. Apart from the Fideicomiso trust expenses the buyer will also pay the usual closing costs associated with a purchase which normally include the title search, appraisal fees, tax certificate, notary fees for the deed, filing fees, transfer taxes (2% of the purchase price) and recording fees.
In general, Fideicomiso and closing costs for a moderately priced property should run about $4,500 USD not including the 2% transfer tax and expenses such as engineering reports, title insurance, subdivision and survey. It is possible to place more then one lot in a single fideicomiso, however, each lot must have its own fideicomiso permit and will incur individual closing costs and transfer taxes. Even so you may save as much as 15% to 20% of the cost of two separate fideicomisos.
Keep in mind that the more valuable the property the greater the transfer taxes, notary charges and appraisal fees. Closing costs and escrow fees are usually higher in Los Cabos than in Todos Santos or La Paz.
UTILITIES & COMMUNICATION SERVICES - Many
Rural properties rarely have public utilities and require that the property owner provide his own systems. Options for water service include a well, cisterns filled from water trucks or irrigation canals. Solar power is widely available and successfully used through out the Baja Peninsula.
Fiber optic digital phone service and high speed DSL internet service are available in many parts of Todos Santos. Cell phone service can be contracted to service properties beyond the communication grid. Many rural property owners even have satellite systems that provide direct high-speed internet access. DISH and Sky satellite television services are offered through local companies. Recently MEGA Cable began installing Cable Television.
Fidelity Title Insurance and Stewart Title both offer full-coverage for properties in Southern Baja.
Both companies require a full title report from an authorized company in Mexico.
These reports usually cost $900+/-. If the report is positive, the Title company will issue a commitment
letter and grant title insurance once the property has been transferred to the new owner.
Insurance costs: $7 to $8 per $1000 value. Example: a $100,000 property = $700 to $800.
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from outside Mexico
dial 011 52
Fax 612 145-0292