Services

If you’re thinking about buying property in the Riviera Maya as a foreigner, there are some important things you should know:

Restricted Areas:

The Riviera Maya is considered a “Restricted Zone” in Mexico. This means it’s within 100 kilometers (63 miles) of a national border or 50 kilometers (31 miles) from the coastline, according to Article 27 of the Mexican Constitution.

How to Buy Property:

Foreigners generally have two options for buying property in the restricted zone:

1. Set up a trust with a Mexican financial institution which costs about $500/ year.
2. Establish a trust through a Mexican corporation that you create yourself.

Most people go with the first option, but the second is better if you’re planning to invest in properties worth more than $700,000. Plus, setting up your own corporation can offer some tax benefits.

If you want more advice on which option is best for you, feel free to reach out to us. Our team can give you more information and help you decide what’s right for your situation.

If you’re thinking about selling your property in the Riviera Maya, there are some important things to consider.

Firstly, you’ll be up against new properties hitting the market every week. So, it’s crucial to have a marketing plan that stands out from what developers are doing.

There are a few things that can help speed up the sale of your property. Effective promotion and making sure your home or condo is listed strategically are key. Also, how your property looks matters a lot. For example, homes with upgraded kitchens tend to sell about 30% faster than those with smaller or outdated kitchens. And even small investments in things like fresh paint or keeping up with landscaping can really make a difference in how quickly your property sells.

At Zoom Playa Real Estate, we know how to make sure your property sells for its true value and in the best possible time frame. If you want to learn more about how we can help you market your property effectively, click here to get in touch with our team.

Zoom Playa Real Estate itself does not offer property management services. This being said, in the Riviera Maya, you’ve got a lot of options when it comes to property management. While some companies might brag about having higher occupancy rates, most of them offer decent service standards.

Usually, property management fees consist of two parts: a flat monthly fee and a percentage of the income generated by the property manager.

Keep in mind that some developers might limit your choices when it comes to property managers. They might put this in the purchase agreement, saying you have to use their chosen property management company for vacation rentals. They might sweeten the deal by offering guaranteed returns, but make sure you read the fine print because after expenses, the actual return might only be around 5%. On the other hand, a good management company could potentially get you a steady return of 8% to 12% annually.

If you want to know more about property management options that suit your needs, feel free to email us. Our experienced team can give you more insights into what might work best for you. Click here to get in touch.

Even though Mexico is part of North America and its property laws and procedures might seem similar to those of the USA or Canada (and sometimes Europe), it’s really important to have legal representation to protect your investments in the Riviera Maya. That’s why we always suggest our clients work with a lawyer when they’re buying property in Mexico.

At Zoom Playa Real Estate we’re happy to recommend our skilled legal team to handle every step of your property purchase process, from deciding to make an offer to signing the deed at the Notary Office.

If you want to learn more about how our Legal Team can help you through this big transition, click here to get in touch with us.

Even though you do not need residency in Mexico to purchase a property here, it is always best to get your residency anyways. Since January 2020, meeting residency requirements usually means making an investment of around $300,000 in Mexico. But there are other ways to qualify too.

We’ve helped many clients over the years to successfully get residency and work permits in Mexico. We’d be happy to connect you with people who can help you smoothly navigate through this process.

If you want to learn more about the steps involved in getting your Residency in Mexico, click here to get in touch with us.

Whether you’re thinking about buying a property or selling one, it’s a good idea to know its value upfront. Property appraisal usually takes about fifteen days to a month and needs to be done by a certified local appraiser.

An appraisal report usually gives three assessments:

1. Market value: This shows how much the property is worth compared to similar ones nearby.
2. Physical value: This is about how the property is built and what it would cost to build it again in the same area.
3. Income value: This considers the return on investment (ROI) and how much rental income the property brings in.

If you want to know more about getting an accurate appraisal for your property, click here to get in touch with us.

At Zoom Playa Real Estate, we’ve teamed up with more than 200 developers, engineers, and architects in the Riviera Maya. While most of these professionals are top-notch and really innovative, choosing the right developer depends entirely on what you’re planning.

It’s smart to think about different aspects of your project, like how luxurious you want it to be and who your target market is.

That’s where we come in: with over 15 years of experience in construction and direct access to people who know all about zoning and building permits, we can help you find the perfect team to make your project a success. Whether it’s doing market research, picking the best architect, overseeing construction, or getting help from our marketing and sales team, we’re here to give you all-around support.

So, tell us about your vision, and let us show you how we can help make it happen.

When you’re buying a property directly from a developer or investing in a pre-construction apartment, you usually don’t need an Escrow service. In these cases, your down payment goes straight to the developer.

In the Riviera Maya, developers often ask for a 30% down payment when you sign the letter of intent. Then, you’ll pay about 40% during the construction phase and 20% when the unit is delivered. The remaining 10% is paid at the Notary Office when you sign the title.

On the other hand, when you’re buying an existing property from its owner, like they do in the USA, Canada, and Europe, you’ll definitely want an Escrow account. This account holds your down payment securely until everything is finalized at the Notary office, and then the funds are transferred to the seller.

At Zoom Playa Real Estate, we work with several Escrow companies across Mexico, Canada, and the USA. So, if you’re a US resident buying property in Mexico, for example, your down payment will stay in the USA in US dollars until everything is sorted out.

If you want to know more about our Escrow services, click here to get in touch with one of our team members.

According to Mexican law, all property purchases have to go through a Notary Office. Besides transferring ownership to the buyer, the Notary Office checks that the property title is clear of debts or liens and that all property documents are up to date.

The closing costs for a property can vary depending on which Notary you choose. While taxes and government fees for property purchases in the Riviera Maya stay the same, the service fees from the Notary Office can differ. Typically, total closing costs add up to about 6% of the property’s value. If you are buying a property as a foreigner with a “fideocomiso” (trust) you should consider adding an additional 2%.

At Zoom Playa Real Estate, we’ve partnered with several respected Notary Offices in the Riviera Maya over the years. We’re committed to helping you pick the right Notary for your needs. Our team reaches out to different Notary Offices to get quotes for their services, so you can make an informed choice.

To find out more about which Notary Office to work with, please get in touch with one of our team members.