MYTHS ABOUT MEXICO AND REAL ESTATE

Numerous myths about Mexico and real estate circulate online and on social media. These myths are rewritten from article to article, find their way into blogs, and even into artificial intelligence — ultimately creating a distorted picture of reality.

1

Myth №
Prices are very low in Mexico

Cancun, Playa del Carmen, and Tulum are not "cheap" Mexico.
These are the most dynamic and expensive regions of the country, where prices and demand are driven by investors from the US, Canada, and Europe. The Caribbean Sea, the uniqueness, and the natural beauty of this region cannot be cheap.

However, many residents of large cities with high prices and taxes (New York, Los Angeles, Toronto, Moscow) rate local prices, not in the hotel parts of resorts, as low.

Myth №
Mexico is unsafe

2

These fears are often fueled by the governments and media in Canada and the United States, but those who come here see it as a modern, growing region with a high quality of life, schools, healthcare, and safe neighborhoods.

Myth №
Foreigners can't buy property near the sea

3

A large number of foreigners have been quietly owning, selling, buying, and renting property in the state of Quintana Roo for many years. Read about the transaction process with foreigners on our website.

Riviera Lux Realty's mission is to show how the real estate market on the Mexican Caribbean coast really works and to help you invest consciously, safely, and confidently.

Buying property in Mexico is a fairly transparent and safe process if you work with a professional realtor and notary. However, there are a number of common mistakes foreigners make when trying to save money or acting without a licensed realtor.

This is agricultural land owned by local communities (collective property). These plots are not registered as private property and cannot be sold directly to foreigners. Even if the seller provides "papers," these are unofficial documents, not registered in the public registry. Yes, such land is cheap.

The purchase of such land is legally void for a foreign buyer, he does not acquire title.

A public escritura is a notarized title deed registered in the public registry.

A seller of resale properties must have a public Title registered in the registry.

Be sure to read the contract; it's surprising how many people sign contracts without reading them or buy without a written contract. The Spanish-language version of the contract is legally binding in Mexico.

Buying real estate in Mexico is a safe process, provided proper due diligence is carried out. Working only with licensed real estate agents is the best way to protect yourself from mistakes and preserve your investment.

Remate bancario are properties put up for sale by banks after the previous owner defaults on their mortgage. At first glance, such offers appear very advantageous.

• The buyer does not immediately receive title; the property must first be legally "freed" from the previous owner.
• The process can take 1 to 3 years, sometimes more and require court intervention.
• The buyer must pay the registration costs and possible legal fees.
• Foreigners unfamiliar with Mexican law often lose money without ever receiving the property.

Theoretically, with an experienced lawyer, there shouldn't be any problems, but in practice, such properties "with a negative history" can present surprises down the road.

Riviera Lux
Realty

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E-mail: lux@rivieraluxrealty.com

Phone: +52 9983017722

Address: Av. Bonampak Mz 1-Lt 1, 77500 Cancún, Q.R.

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