F.A.Q

1. Q: What is the process for purchasing a property in the Riviera Maya as a foreigner?

- A: The process involves selecting a property, signing a purchase agreement, choosing a fiduciary bank, creating a restricted zone trust, providing necessary documentation, trust approval, payment, property transfer, and registration in the Public Registry. Local professionals such as Consulting Riviera Maya ensure legal requirements are met.

2. Q: Are there restrictions for foreigners in acquiring properties in the Riviera Maya?

- A: Yes, due to restricted zones, foreigners use a real estate trust (fideicomiso) facilitated by a Mexican bank. This allows them to acquire and enjoy property rights within the restricted coastal areas. Consulting Riviera Maya will help you set the Restricted Zone Trust.

3. Q: What are the common concerns for North American and Canadian buyers in the Riviera Maya?

- A: Common concerns include legal procedures, cultural and language differences, financing options, security, additional costs, reputation of developers, and potential risks like market fluctuations and natural events.

4. Q: Are there any tax benefits for foreigners when purchasing a property in Mexico?

- A: Yes, there are potential tax benefits, such as the option to apply a fixed rate of 25% on gross rental income for income generated from renting out the property.

5. Q: What services do you offer as a real estate agent in the Riviera Maya?

- A: I offer comprehensive services, including assistance in property search, negotiation, legal guidance on fideicomisos(Trusts), and support throughout the buying process. My goal is to ensure a smooth and secure transaction.

6. Q: What is the security situation in the Riviera Maya?

- A: The security situation varies by area, but generally, the Riviera Maya is known for being a safe destination.

7. Q: Can I rent out my property in the Riviera Maya?

- A: Yes, property rental is common in the area. I can provide guidance on the rental process and recommend property management services if needed.

8. Q: How do I ensure the legitimacy of developers or sellers in the Riviera Maya?

- A: I work with reputable developers and sellers. You can also check their track record, reviews, and previous projects. Transparency and due diligence are key to building trust.

9. Q: What are the environmental considerations for properties in the Riviera Maya?

- A: It's important to be aware of the local environmental conditions, especially regarding hurricanes. I can provide information on environmental factors and precautions.

10. Q: Can I get a mortgage as a foreigner in the Riviera Maya?

- A: Yes, there are financing options available for foreigners. I can guide you on mortgage possibilities and help you understand the terms and conditions of your dream loan