Purchasing Property in Rocky Point, Mexico: There is still time to get a good deal
There have been indications that the real estate market is on the mend both here in Rocky Point, Mexico and the U.S. Right now there are still bargains to be found on condos, homes and lots, but as the market stabilizes, prices will naturally rise and great deals will become harder and harder to find. If you have wanted to be a property owner in Rocky Point – whether it’s a condo or a fractional share – the time is now. Interest rates are competitive and owners and developers are making it easier for buyers with longer terms and lower down payments. And if you plan to put your property into the rental pool, you are in a much better position now than say a year or two ago as rental units are booked many weekends.
Purchasing property in Mexico has come a long way in a few short years. The process has been streamlined, contracts are clearer, title insurance is available, real estate agencies in the U.S. and Mexico are working together and Rocky Point agents are required to be licensed. All of these make purchasing property in Rocky Point safe and easy.
Many still believe that you do not own your property in Mexico and that you only lease it for 50 years. In fact, you do own your property through a Bank Trust and it can be renewed, willed or sold. If you form a Mexican Corporation that corporation can own the land outright. Your real estate purchase is safe and many Americans and foreigners own property all over Mexico and have done so for years. Rumors spread faster than the truth so if you hear or read something that doesn’t sound right you should contact a licensed real estate professional in Rocky Point or AMPI – the realtors association in Mexico to get the true answer.
Doing your due diligence before you buy is always recommended. You need to make sure the property if free of liens and if there is a title on the property. Along with real estate agents there are Notario’s and Attorneys who can help you with every step of buying property in Mexico.
Don’t wait too long o acquire your piece of paradise or a fractional piece because prices will be on the rise soon. If you are not quite ready to purchase a home or condo, consider a fractional share which still gives you ownership of real property for a stated amount of time. It’s a great way to secure a vacation home or condo without all of the expenses. While you are in Rocky Point, visit Laguna Shores Master Planned Oceanfront Community for great prices on lots, homes, condos and fractional shares. Low density living at its finest and the most amenities of any master planned community in Rocky Point, Mexico!