Buying in Mexico? Financing exists here in Mineral de Pozos on selected properties. If all cash offers are scary, inquire about options. Some property owners will entertain a large cash deposit and monthly payments with agreed upon terms.
All of the terms are laid out specifically with a Notario (law office). A deposit and Compra Venta (sales agreement) initiate the process and all funds are held in Escrow at Actinver or Fidelity Bank until closing. Any payment terms will be legally binding and part of the sales agreement. The final Escritura (deed) will be held until the full property payment is complete and all terms are satisfied.
While cash offers are the norm here, some owners will allow for other terms. Buying in Mexico with financing from banks carries high interest rates and lengthy qualifying process. last time I inquired of Scotia Bank, they were not extending financing to any international who did not live in the residence full time and no commercial loans were available at all. Not to say this won’t change, but it is a tough road to take.
These three properties below each have different possibilities for owner financing. Whether you pay in USD or MXN pesos, the owners are open to terms. All can be residential or commercial investments and all are well-maintained properties with clear titles. Title insurance is also available on a any sale. Inquire here with questions on buying in Mineral de Pozos. Elizabeth Kelly