buying and owning property * purchasing homes * condominiums * land * cabo san lucas * mexico

Buying and owning property in Mexico has never been easier and safer.  In 2006, there were 1.2 billion dollars invested in purchasing homes, condominiums and land in Cabo San Lucas, the greatest percentage of purchases by Americans and Canadians.

Ownership of a home, condo or raw land is accomplished by a fideicomiso, in the purchaser’s name, held in trust by a Cabo San Lucas bank.  The fideicomiso gives the buyer essentially the same rights as owning property in fee simple in the United States.  The property can be sold, willed to children or a favorite charity, leased, rented, if a freestanding building, the house can be totally remodeled.

Financing your purchase can be accomplished with a seller who is willing to carry back on the property, you may use the equity in your home in the United States for a equity loan or a second mortgage, or you may utilize the equity in your 401K.
And there are now several lending companies in the United States and Mexico who will loan on property being purchased in Mexico by Americans and Canadians.  Terms can vary from 20 to 30 percent down, 6.8 to 7.5 per cent interest and 15 to 25 years carry back.  Normally the loan must be for at least $100,000USD and can be on a home, condo and raw land and in many cases on new construction.

If you are considering purchasing a home, condominium or land in Mexico, many lending companies can pre-qualify you so that when you arrive in Los Cabos, you will know exactly how much you can consider investing in Mexican property.  Your Prudential agent can guide you in selecting the perfect property that will fulfill all your dreams and desires, whether you are purchasing for vacation, retirement or investment.  Remember, Prudential is the most trusted name in real estate.