Table of Contents
Your success in selling a house in Mexico depends on several factors such as the current real estate market, the price you are asking for and how to market the house. As in the US You can decide to actively sell the house yourself or hire the services of a real estate agent, but when you hire a real estate agent, you have to do your research. This is because real estate agents are not regulated as they are in the United States and a good agent is successful because of their service and reputation.
For sale by the owner
Take a copy of your deed and your last property tax receipts to a notary public (Mexican contract attorney and notary). He will check with the state tax office and the public property registry to make sure all documents are in order. Prepare a small fee of approximately US $ 50 for this service. If the notary checks for anomalies, he will let you know and give you a nominal price to solve them.
Make an appraisal of the property. The appraisal of real estate in Mexico is different than in the US. and it is not based on the number of rooms in the house, but on the total property area and the total square meters of the construction. However, there are other factors that influence the value of the house, such as the area in which it is located and similar sale values of other properties in the same area. Hire an appraiser to help you find the true value of your home. Find other houses that have been sold in the area and find out what their sale price was. Ask current owners or search the real estate newspapers to find out what other owners are asking for. You must be willing to negotiate on the final price. Remember that everything is negotiated in Mexico,
Advertise the house in newspapers written in English, on bulletin boards placed locally in churches, in grocery stores and in clubs that visit foreigners. Use local online ads and groups to advertise your home. Place online ads in the international section of websites such as Craiglist. Place an ad on real estate brochures of local properties and magazines. Place ads on social networking sites like Boomers Abroad, or Retiring Singles.
Use word of mouth advertising. Foreigners’ communities in Mexico are very close, so it is important that everyone knows that you want to sell your home. They will tell newcomers about the sale of your home.
Find the buyer and go with him to the notary public. The notary will help you process all final purchase agreements and transfer of deed using a trust. This final process takes 30 to 90 days to complete.
Using a local real estate agent
Prepare your home documentation as you did in step 1 and 2 of the first section.
Find a good real estate agent asking other foreigners who have used them. Find a real estate agent that has a large network of acquaintances and offers you a personalized service. Often, choosing the largest real estate agency is not the best idea in Mexico. Real estate buyers tend to choose agents that are known for their personalized services in Mexico.
Visit local real estate agents and ask about the services they include with the sales commission. The majority will guide you through the process and will accompany you to the notary public and will work with you until the final closing of the sale.
Promote your home with one or more real estate agents. You are not required to sign an exclusivity contract and you can promote it with several agents. Make sure you have negotiated a reasonable sales time in your contract. You don’t want to be with a real estate agent indefinitely.
Wait for the house to sell, which can take from a few months to several years, depending on the market and the sales price you have established.