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Mexican Financing: How it Works, Where Do I
Start? |
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- If you wish to work in Mexico, you must
get your Forma Migratoria (exhibit 2...specifically the FM3).
If the property you are purchasing is your
primary home, you will need to obtain an FMT. For more information on the FMT
and FM3 click here:
Forma Migratoria (exhibit 2).
[No FM is required if the property is a
second home.]
- Next you will want to find a realtor. In
Mexico there is no licensing or regulations
for realtors, so make sure you ask for
references or interview them thoroughly.
That said, you should definitely employ the
services of a realtor. Purchasing a property
in Mexico is much different than in the US.
Water rights, land use, construction
materials, and most importantly, the purchase
contract are all issues foreign to most
people so that you will need the
expertise of a realtor or attorney to assist
you in navigating. Additionally, the
seller pays the realtor so there is no
reason not to hire one.
- Lastly, if you are considering financing
the property you should get pre-approved and
learn as much as you can about the process
of buying and financing a Mexican property.
Getting pre-approved costs you nothing and
does not obligate you to obtain the
financing.
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