Foreigners are legally entitled to own real estate in Mexico, and tens of thousands of them do. As with real estate transactions in your home country, due diligence is required when purchasing real estate in Mexico. A real estate professional will assist you to avoid pitfalls when you are looking for a home or investment property. At Lakeside, we have one of the most effective Multiple Listing Associations in Mexico. (It is not valid to assume that all cities or regions have such associations.) The Grupo Inmobiliaria del Lago (G.I.L.) requires that all member realtors are fully trained in Mexican real estate law, and regulations governing their behavior are enforced rigidly by the local association. A commission structure is set and published for the benefit of all who are seeking to buy or sell. Look for the G.I.L. logo when selecting a realtor. It is your guarantee of professionalism in real estate. Combined with your Notary Public, they will provide you with complete confidence in your real estate transactions.

Recent changes to Mexican real estate regulations have made it possible for non-residents to purchase a home or a condo without having to place it in a trust. This is important for people who cannot spend half a year in Mexico (the minimum time for residency), but want something of their own that they can come to for a week or two at a time throughout the year. 

Anyone who is a resident of Mexico can assume ownership of property directly. A deed, called an “escritura” will be produced in your name by a Notary Public. 

Real Estate transactions are processed by a Notary Public in Mexico. These professionals are lawyers by training and have spent a minimum of 5 years working in a Notary Public’s office. They receive their appointment through a rigorous set of state adminstered examinations and are the only person who can officially transfer property and issue an “escritura”.  As purchaser, you have the right to choose the Notary who will handle the deal.