Foreign Real Estate Purchases in Mexico
If you're thinking of investing in foreign real estate, it's important to take all the necessary precautions in order to ensure your security and avoid any potential issues down the line. From finding a qualified attorney, doing title searches and obtaining title insurance, to understanding transfer taxes and capital gains taxes on behalf of the seller, proper research is essential when considering this type of asset-class investment. Read on to understand how MoXi can protect you from potential pitfalls when investing in foreign real estate.
Many prospective clients often ask why they need an appraisal, title search, or title insurance for a foreign real estate purchase. At MoXi, the answer is simple: you wouldn't buy a home in the United States without those components so why would you do so in a foreign country? Unfortunately, many foreign buyers take the risk and do not seek out the services of an experienced advisor and end up making costly mistakes.
In fact, MoXi has seen that nearly 40% of all the transactions they are involved in have issues with titling as the seller doesn't have legal capacity to own what they thought was theirs due to improper paperwork or processes. Additionally, 33% of all transactions — equating to tens of millions of dollars worth — have issues such as transfer tax or capital gains taxes that can be quite expensive if not taken into account correctly.
Ultimately, MoXi's investment vehicle offers a layer of safety and protection for foreign real estate investors that helps to mitigate the risks associated with property ownership abroad. With our one-of-a-kind SOFOM structure, we guarantee investors hassle-free transactions backed by the Mexican government, as well as access to experts in real estate, appraisals, title searches, and title insurance so you can feel secure in your investment and be sure that you're getting the most out of your property. Investing in foreign real estate can be an exciting venture if done correctly.
As such, it’s important to remember when considering investing in foreign real estate, don't do so blindly! Doing your research and taking advice from experts is key to ensuring success and ultimately protecting yourself from any future issues or complications down the line. Investing in foreign real estate requires serious consideration; researching all facets concerned before proceeding with caution is essential for anyone considering this kind of asset-class investment.
In conclusion, when considering a foreign real estate purchase transaction in Mexico, it is important to work with an experienced and knowledgeable partner such as MoXi. MoXi's structure includes a powerful SOFOM (non-bank financial institution), which is regulated and audited by the Mexican government for maximum customer peace of mind. Furthermore, MoXi advisors are always available to assist clients in navigating the nuances of homeownership in Mexico, from title searches and insurance to transfer taxes, reverse capital gains tax, and capital gains tax. Choosing to purchase without any of these required steps could lead to costly mistakes that could have been avoided by working with MoXi.
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