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Real Estate Legal Services

MEXLAW > Real Estate Legal Services

Imagine having an experienced team of professionals accompany you through the entire process of purchasing real estate in Mexico. You can rest assured that your interests as the buyer are protected at all times. Mexlaw has the experience and the competence to represent you through the entire process. Our professional team has the knowledge necessary to guide you through the intricacies and customs of the Mexican Real Estate market while providing you with a familiar format and process in concluding the transaction and insuring your title. Because we are Canadian and American certified lawyers, we can also provide you with fully insured Escrow Services.

MEXLAW CAN ASSIST YOU WITH:

Title Search & Due Diligence

Escrow Services

Real Estate Closing Accompaniment

Co-Ownership (Condo) Agreements

Commercial and Residential Leases

Mortgage and Construction Liens

Construction Agreements

Beachfront Permits

Financing

OUR PROCESS:

A personal briefing to explain the process and answer questions

Due diligence performed on the property

Verification of zoning and construction permits

Organization of services for closing

Referencing of all parties

Access to our legal department

Qualified, experienced and trustworthy professionals

Accompaniment at the notary’s offices at closing

Title guaranty

WHAT ARE THE STEPS TO TAKE ONCE YOU HAVE DECIDED TO PURCHASE PROPERTY

Once you have decided to purchase property in Mexico, we will suggest that you complete the following steps. You can contact one of our offices in order to arrange for an appointment to meet a lawyer who will assist you with the documents required and with the process. There is no fee for this service.

CLOSING SERVICES

Our Closing Services are the most comprehensive in the market. We will coordinate all the necessary services with the appropriate authorities when concluding a transaction and we will be responsible for acquiring all mandatory documentation (including copies of the recorded deed transferring title).

CLOSING DOCUMENTS

Our in-house legal counsel will collect and verify all the documents necessary for the transaction. We will accompany, assist and review the Notary Public’s work before closing. Once all the documentation and title research is concluded the seller and the purchaser will execute a Deed of Sale by which title is transferred. This deed is referred to as an “Instrumento Público” which is the final document attesting to your acquisition of the rights relating to the property and which will be recorded at the Public Registry. At this point the remaining closing costs must be paid. This includes the real estate transfer tax, the personal property and value added tax, the final appraiser fees, the final notary closing fees, bank fees (if applicable), prorated taxes and assessments for the remaining portion of the calendar year, working capital (if necessary), and other costs which are identified for you on the Estimated Closing Costs which we will provide to you. These amounts will be confirmed to you before closing the Deed of Sale. All public documents must be prepared in Spanish however we will provide you with an English translation for your information. Please note that in case of any discrepancy only the Spanish version shall prevail. If you have any questions at any time throughout the process you can contact our legal department.

POST-CLOSING

Once the Deed of Sale is signed, MEXLAW will verify that all the taxes and the public utility services have been paid and that the Deed was registered at the Public Registry. We will send to you a certificate attesting to this registration. We will also provide you with our Title Guaranty attesting to the fact that your title is free and clear and cannot be contested.

GUARANTY OF TITLE

It is important for owners, investors and mortgage lenders to secure a “good title” in order to have peace of mind about the property acquisition and to have a valid title when the time comes to sell the property. Once the transaction is concluded, a Title Guaranty will be issued by MEXLAW after a comprehensive title search has been carried out on the property and a clear chain of title has been established. We will guarantee to the buyer a free and clear title to the property and assume the responsibility to correct or remedy any defect.

ESCROW SERVICES

When purchasing an international property, an important consideration will be to determine under what conditions the transaction funds will be held and distributed. In most markets, attorneys or brokers will hold the transaction funds on behalf of the buyer. This is not recommended in Mexico, as neither Mexican lawyers nor real estate agents are certified by a government authority and legally cannot hold funds “In Trust”. MEXLAW offers fully insured Escrow Services by receiving the funds “In Trust” in a segregated special account held in a Canadian bank. These funds are insured by our professional organization for an amount of $1,000,000 per transaction.

You will only have to provide us with the required documents – leave the rest to us!