Buying property for foreigners in Playa del Carmen, Mexico is very easy, safe and simple. You do not need to have a residency or citizenship to be eligible to do so. However foreign buyers have to purchase property either through a trust (=fideicomiso) or a Mexican corporation.
Step by Step Guide to purchasing property in Playa del Carmen
1. Determine how much you can afford
Keep in mind, that in Playa del Carmen the seller is paying the entire real estate commission and the buyer is paying for the closing.
2. Tour properties with your Real Estate Agent
Find your dream condo or house in Playa del Carmen with our expat agents that have a deep knowledge about the area and are specialists in matching your budget and needs with the perfect property.
3. Make an offer to purchase and pay deposit
Your agent will submit an offer to purchase outlining the price, conditions and terms as well as the amount of the deposit paid (good faith/earnest-money).
4. Get a lawyer for sales agreement, legal advise and closing
Our lawyer/notary team will assist in all the legal steps including preparing the sales agreement, establishing the trust/fideicomiso (or setting up a Mexican Cooperation), obtaining and registering permission from Mexico’s Secretary of Foreign Relations, escrow services for paying deposits, down payments and balances.
5. Trust/Fideicomiso or Mexican Corporation?
As foreigner you can own legally property in Playa del Carmen, either through a trust (=fideicomiso) or a Mexican Corporation. Your agent and lawyer will explain, so you can make the decision thats suits you the best.
6. Signing of sales agreement
This legally binding agreement between buyer and seller or builder/developer contains a number of dates including the closing date.
7. Get excited!!!
Congrats! Now it is a matter of time and you will take possession of your property in Playa del Carmen. Meanwhile the lawyer/notary team will prepare all documents for closing.
8. Closing and taking possession
The final day has arrived and you and seller are sitting at the notary’s table to sign the papers, your title/deed (=escritura). Confirmation of payments and or disbursements will take place here as well and you will get a certified copy of your title/deed (=escritura).
9. Registration of property at cityhall
The notary will register your property in the public registry of the city of Playa del Carmen. This might take a while and once done, you will receive a confirmation letter.
Hello and Bienvenido!
My name is Gabi Waldert and I am the founder & CEO of Playa Rentals & Sales®. I moved from Germany to Playa del Carmen in 2001. I have 15 years of experience in selling and renting in Playa del Carmen.
We at Playa Rentals & Sales® are witnesses of the growth & development of Playa del Carmen, that has not stopped since we came years ago and choose to stay. Playa del Carmen boomed from small village to primer tourist destination. Everyone is investing in Playa del Carmen & the Riviera Maya including big hotel companies.
It is perfectly legal for foreigners to own Property in Mexico including beachfront and land. We at Playa Rentals & Sales have access to all listings & mls listings Playa del Carmen offers, because we are well connected.
Buying Real Estate in Playa del Carmen is personal, and we at Playa Rentals & Sales® are passionate about our work and specialists in meeting the individual needs of each client to match you with the perfect property in Playa del Carmen or the Riviera Maya.
We represent all of our clients with excellence, honesty, integrity and local expertise and we believe that everything matters and that nothing is small stuff.
Why investing in Playa del Carmen?
Playa del Carmen & the Riviera Maya are not only popular among tourists & vacationers.The cosmopolitan towns and villages along the 150 km coast including Tulum offer a unique live style. Many nationals, snowbirds from the U.S, or Canada, retirees and expats from all over the world are falling in love with this magical part of the world. The demand for real estate and rental properties throughout the year is very high. This is just one reason why an investment for so many buyers just makes sense. The property can be paid off with rental income until the time for retirement or year-around living has come.
Playa del Carmen & the Riviera Maya, including the Yucatan offer an attractive mix between beautiful beaches with calm turquoise water, magical cenotes and authentic Mexican culture including the World of the Maya and a cosmopolitan live style where English and Spanish are first languages.