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 advice 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 Corporation), 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 a 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 city hall
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.
Can a foreigner buy Real Estate in Mexico?
Yes, of course, there are no laws preventing non-resident ownership of Real Estate in Mexico. You do not need to have residency or citizenship to be eligible to do so. However, in order to purchase Real Estate in the Riviera Maya foreigners must acquire the property through a bank trust formalized with a Mexican Banking institution. As a buyer, you will be designated as the main beneficiary and can designate substitute beneficiaries in the event of death, that way avoiding probate procedures upon death.
Can I buy a property through an LLC?
Yes, you can buy property in Tulum, Playa del Carmen & the Riviera Maya through an LLC, the trustee bank would designate the LLC as the main beneficiary of the trust. However, since the LLC is a foreign entity, there are additional requirements for such an LLC to conduct business in Mexico. Feel free to ask us if you are interested in purchasing property through an LLC.
Can I buy a property in co-ownership?
Yes, you can acquire Real Estate in the Riviera Maya in co-ownership. In that case, both co-owners will be designated as the main beneficiaries of the trust. It’s expected that such co-owners designate themselves as substitute beneficiaries, and they can also select other 3rd parties, such as their children, as substitutive beneficiaries in the event of death.
Hello & Bienvenidos!
Hello and bienvenidos to Playa Rentals & Sales®, your boutique Real Estate company located in Playa del Carmen, where you can expect local expertise, passion for this beautiful area of the world, bilingual real estate and rental agents and excellent customer service. We keep it small and personal to provide all of our customers – buyers & sellers, tenants & landlords – a 5 star service.
The Real Estate Agents at Playa Rentals & Sales® are witnesses of the growth & development of Playa del Carmen, which has not stopped since we came years ago and choose to stay. Playa del Carmen boomed from a small village to a primer tourist destination. Everyone is investing in Playa del Carmen, Tulum & the Riviera Maya including international companies.
It is perfectly legal for foreigners to own property in Mexico including beachfront and land. Playa Rentals & Sales® has access to all listings & all MLS listings for Playa del Carmen, Tulum and all Riviera Maya. We are well connected with all professional Real Estate Agencies and Rental Agents in the area. We are working in this region for more than 15 years.
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, Tulum 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.