REAL ESTATE CLOSING COORDINATION

   Purchasing a property is a task not being taken lightly.  Many of us have lots of fun searching for properties, imagining how our lives will be once we live there, thinking about how our house will look when we furnish it, etc.  Although perhaps less glamorous, it is very important to make sure that the purchase of the property is completed in a legal and stream-lined manner.

    CANCUN ESTATE has always offered closing coordination services to our clients who purchase properties in Mexico via a mortgage, as well as all clients with a few select developments.  We are now very happy to announce that we are offering this service to the general public for clients purchasing in the Puerto Vallarta area (Jalisco or Nayarit).

The team at CANCUN ESTATE has more than 25 years of experience working in closing real estate transactions in Mexico.  We are proud to announce that a lawyer has recently joined our team.  Elisa Miranda used to work with Notario 5 in Puerto Vallarta and is heading the Closing Coordination department with CANCUN ESTATE.  We coordinate all the aspects of the closing with the buyer, seller, Notario, real estate agencies/ developers, as well as Escrow and the trust bank if applicable.   Not only do we stream-line the process, allowing buyers, sellers and realtors to conduct business with only 1 office, but we also provide a speedy and bilingual service.

ESCROW: As most know, Escrow is used as a third-party in a real estate transaction.  While it is not the norm in Mexico, it is very common in regions where there are concentrations of foreigners purchasing real estate. CANCUN ESTATE opens the Escrow account on behalf of the buyers and sellers as well as works on the distributions, funding, etc.

BANK TRUST: When a non-Mexican purchases a property in the restricted zone in Mexico (50 km from the shore or 100 km from the border) it is necessary to purchase property via a bank trust.  CANCUN ESTATE originates the buyer´s trust, and if the seller has a trust, we will also work on the cancelation of the seller’s trust; or if applicable, the cessation of trust rights from the seller to the buyer.

SALES CONTRACT:  While the sales contract is usually written by the realtor, CANCUN ESTATE provides advice and comments about the various clauses to ensure that both the buyer and seller are protected and that the outline of the transaction will occur is in conjunction with the proper procedures and time-lines.

NOTARIO: The transfer of property must happen via a Public Notario in Mexico.  (A Notario in Mexico is much more prestigious and has more functions than a Notario in the US or Canada).  CANCUN ESTATE works in conjunction with the Notario, and performs the following functions:

               Deed Composition: CANCUN ESTATE writes the deed.

               Deed Signing: CANCUN ESTATE programs and attends the signing of the deed at the Notario’s office with the buyer and seller.

               Capital Gains Calculations:  CANCUN ESTATE works with the Notario to calculate the capital gains, and apply any possible strategies to ensure the lowest amount to be paid.

               Certificate of No Liens:  CANCUN ESTATE orders and obtains the Certificate of No Liens to                           ensure the subject property does not have any outstanding liens.  In case the property has a lien, CANCUN ESTATE would work with the seller to strategize a solution to have the lien released.

               Tax Appraisal: CANCUN ESTATE orders and obtains the appraisal from the tax authority.

CANCUN ESTATE is excited that we are now offering our closing coordination services in a more direct manner and to the public in general.  We are confident that this will be a benefit to buyers, sellers, realtors and developers.  Please feel free to contact us with any questions you might have, and we looking forward to working with you.

CANCUN ESTATE,

Real Estate Company