Guide to Real Estate Closings in Mexico

This is a brief reference guide of how Real Estate closings in Mexico work.

The closing process in Mexico is different from what you might be used to in your own country. Some of the key differences are: payments are made in advance. You need a fideicomiso (trust) to own property within the restricted zone. The Notaries are offically appointed and have official duties, responsibilities and powers.

Estimated Closing Period: Closing Periods vary on a case by case basis. The average Closing Period is three months. This period starts the moment all documents are procured and the buyer has made the deposit for 50% of the Closing Cost Estimate. The Closing is executed at the signing with the notary. The Closing is complete when the buyer is holding the orginal title.

Terms: Fideicomiso (Trust) Foreigners may own land within the "Restricted" zone through a trust. 50- year renewable trust. $500 USD/year average trust fee. Notarios Publicos (Public Notaries) Notaries are the only attorneys authorized, obligated and privilaged by the Mexican Government to convey Real Property. Highly skilled specialist in Real Estate law.

Public Registry of Property. Different from the US, the Public Registry of the Property only records Real Property but doesn't have the capability to transfer it. The Registry is the entity that provides the central system and framwork for recording Real Property.
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