Vacation property in Mexico. Looking at buying a condo. Have question if any of you also own vacation property in Mex.

[OutHouse]

a friend of mine is getting a vacation condo in Mexico in a town called Playa De Carmen and using a agency to rent it out. Im sorta intereted in getting one too because the ROI is excellent.

If any of you own property in Mexico can you give me what your experience has been owning it?

 

[CT2TXtech]

must be nice to be rich.

 

[Yax]

1. I think you need to be a citizen of Mexico to own property.
2. If someone lives there for an extensive period of time, they can claim it as their property and the court will award it to them. You lose.

 

[LuckyTaxi]

Originally posted by: CT2TXtech
must be nice to be rich.

:beer:

 

[kenshorin]

Originally posted by: CT2TXtech
must be nice to be rich.

Maybe all us poor regular folk could chip in and get an ATOT Beachhouse! ATOT in Cancun! (Then Cancun would cease to be cool... )

 

[Zedtom]

My sister and her husband lived in Mazatlan for five years in the nineties. They had to jump through all kinds of hoops to own their own house. There was a requirement that a Mexican resident had to co-sign on the mortgage and there were other hidden costs, (bribes to local officials). They loved the lifestyle, but eventually moved back to the U.S.

 

[Turkish]

I don`t know much about condos in Mexico but you`ll have to bribe a ton of officials. They won`t do a damn thing without the $$$. Goodluck.