Written by Conrad Alvarado
Published on August 30th, 2023
Buying a house in the Riviera Maya is the dream of many, whether as an investment or as a place to enjoy a well-deserved vacation. However, before taking that big step, it is important to be well prepared and know the documents necessary to carry out this transaction in Mexico.
In this blog, we will explain what documents are needed to buy a house in the Riviera Maya.
- This article may interest you: 5 trendy beaches to buy a house in the Riviera Maya.
Official ID
To start, you will need a valid official identification, such as your passport or your voter ID (INE). This is essential for any legal procedure in Mexico.
Unique Population Registry Code (CURP)
The CURP is a unique alphanumeric code that identifies each Mexican citizen. Make sure you get yours before you start the purchasing process.
Temporary or permanent resident visa
If you are a foreigner and want to buy a house in Mexico, you must have a temporary or permanent resident visa. This is an essential part of the process and will allow you to own property in the country.
Purchase and sale contract
This document is the legal agreement between the seller and the buyer. It should include details such as the sale price, payment method, and delivery date of the property.
Certificated of assessment fredom
This certificate is issued by the Public Property Registry and certifies that the property has no outstanding debts or liens. It is essential to ensure that the property is free of legal problems.
Public deed
The public deed is the legal document that officially transfers ownership from a seller to a buyer. It must be granted before a Mexican notary public and registered in the Public Property Registry.
Property appraisal
A professional property appraisal is necessary to determine its true market value. This may also be required by your financial institution if you apply for a mortgage loan.
Payment of taxes and duties
You must pay the corresponding taxes and duties, such as the Tax on the Acquisition of Real Estate (ISABI) and the Property Tax. These must be current before purchase.
Birth certificate and marital status
Some notaries may require your birth certificate and evidence of your marital status, such as a marriage or divorce certificate, depending on your personal situation.
Proof of address
You may be asked for proof of residency in Mexico, such as a utility bill, to verify your current address.
Power of attorney
If you cannot be present during the signing of the deed, you can give power of attorney to someone you trust to act on your behalf.
Property Title Insurance
Although not strictly necessary, it is advisable to consider title insurance to protect yourself from potential future legal problems.
Remember that requirements may vary depending on the exact location in the Riviera Maya and the legislation in force at the time of purchase. It is important to consult with real estate experts, such as PIM Riviera Maya , to ensure that all the documents are in order and you meet the legal requirements necessary to buy your home in this Mexican paradise. Contact us!
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