Buying property in Riviera Maya is actually simpler than it looks. When buying property as a foreigner you need to acquire a Bank Trust which is a legally binding agreement created for your entire benefit. The Bank acts on your behalf by holding he title for you and for such reason you pay an annual fee that averages $500 USD and the cost to set it up at the beginning will be of $2,500 USD.
With such bank Trust you have all the rights to use, rent or sell at your convenience. Just as in the US or Canada as a buyer you would need an attorney and a Notary to assist you through the process. The difference with a Notary here in Mexico in comparison with the US for example is that a Mexican Public Notary must be a licensed attorney that validates all documents here locally in Playa del Carmen.
In Playa del Carmen Real Estate we will gladly guide and advise you step by step in this important life changing decision.
Welcome to Playa del Carmen, Welcome to Riviera Maya, Welcome to Paradise!!