Why Merida?

* Easy access from USA and Europe
* Excellent Climate
* Low Cost of Living and Land Prices
* Lifestyle
* Vibrant Culture
* Good Infrastructure
* Good Medical Care
* Safe and Secure
* Legal Security

What is an Exclusive in Real Estate?

It consists in putting a property for sale or for rent through only one real estate agency, which shall be authorized to promote it.

It is necessary to sign an exclusive contract stipulating the exclusivity of the property. This document must contain the price, the fee that will be charged by the real estate agency at time of sale, and the exclusivity term, 120 days at most.

During that period, the property is promoted through the resources and means of that company or agent. Generally, real estate agencies share these properties with other brokers, in order to do networking and have a support in the promotion to be able to close a deal faster. Both companies make agreements to share the fee charged to the owner.

Can a foreign person buy a property in Mexico?

Article 27 of the Mexican Constitution of 1917 decrees that no foreign person may be registered as the owner of any real property that is located within the "restricted" zone. The zone is an area thirty miles wide along the coastlines and fifty miles wide along the US and Guatemala and Belize borders.
Currently, this is possible but the procedure for acquiring a property includes the application for a permit with the Ministry of Foreign Affairs and form a trust that is managed by a bank or create a company.

What is an Evacuation and Delivery Agreement?

Unlike most of Mexico, in the Yucatan state laws provide for the possibility of a "Evacuation and Delivery Agreement" aimed at virtually the same as the Lease, ie, regulate occupation of a property.
Property owners in this region are used to sign the "Evacuation and Delivery Agreement" instead of Leasing.

An Evacuation and Delivery Agreement is a deed under which the tenant (occupant) undertakes and agrees to return the property to its owner at a time.

In the deed the parties, in addition to the time limit, agree other terms of occupancy, that is, the use that will be given to the property, prohibition to change its structure without a prior written permission of the owner, the care and maintenence that the property must have, etc..

By law, as agreed by the parties has the force of res judicata, this means that in case of dispute between the parties and to go to a judicial authority, the procedure begins with the execution of the agreement without having to go through the previous stages of proceedings.

A prerequisite for signing the agreement in comment is to be granted in a public deed, therefore, before a notary.

Why Agreements must be signed before a Notary Public?

Evacuation and Delivery Agreements are signed in the State of Yucatan before a notary public by law.
By bringing all the formalities of law, and with due inclusion in its clauses, acquire Evacuation and Delivery Agreement res judicata. This means that in case of dispute the court proceedings initiate in the implementation phase and not by demanding as any other legal proceedings, and this is well under the document signed before the Notary Public, ie agreement, rather than making a judgment.
If an agreement is signed in private, in other words, without the formalities required by law, the document would not be a sentence and it would be considered only a private documentary and therefore the legal proceedings to recover the property begin in the stage of demanding and exceptions.

What is a lease?

The lease is a contract by which one party, called the lessor, undertakes to transfer a temporary use of a property to another tenant called party, who in turn agrees to pay a certain and determined price.

What is a Promisory Contract?

In the Promisory Contract one or both parties undertake to hold, within a certain time, a certain Property Purchase Agreement that can not or do not want to celebrate just yet.

What is a Purchase Agreement?

It is a contract under which one party, called seller agrees to transfer ownership of a property to another, called the buyer, who in turn agrees to pay a certain price and money.

Who should pay the costs and taxes in a transaction?

Three types of taxes are generated in buying and selling properties: the first one is municipal, the Tax on Acquisition of Properties (ISAI), which is responsibility of the purchaser and in the case of Merida the rate is 2.5%, the second one is federal, an Income Tax (ISR), which is generated if the seller makes a profit by selling and does not apply any exemption of law in its favor; and the third is a state tax, the Cedular Tax for Disposal of Property, which applies a rate of 5% on the basis of the ISR and same exemption criteria for the owner.

Attorney fees, government patents and rights incurred are always paid by the purchasing party, and in the case of a lease are paid by the tenant.

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