How MoXi Secures Your Mexico Home Purchase
Buying property in a foreign country can be a daunting prospect. Without the proper knowledge and experience, it's hard to know how to navigate the unfamiliar market or understand which steps are best to take. That’s where the help of MoXi comes in — We have the expertise to guide you through each step. Read along as we help you understand how MoXi can ensure a secure transaction.
When it comes to purchasing a home in the United States, title searches, title insurance, and commercial appraisals are essential components of a successful real estate transaction. However, in Mexico, foreign buyers purchase real estate without these important steps, due to a lack of knowledge of proper funding. An eye-opening fact is that nearly 40% of the transactions we have been involved in have had major issues with property titles. This means that the seller wasn't actually eligible to sell the asset as it hadn't been properly registered beforehand.
With global real estate purchases on the rise, it is increasingly important to be aware of potential pitfalls and costs associated with foreign transactions. At MoXi, we have seen tens of millions of dollars in transactions, many of which have resulted in issues with transfer taxes, reverse capital gains taxes, or capital gains taxes for sellers. These amounts can range from thousands to tens of thousands of dollars and often result from an uninformed buyer or seller not taking necessary steps such as buying title insurance, a legal title search, or getting their property appraised.
It is essential for buyers and sellers to work with a reliable team that has experience navigating foreign regulations. In this way, buyers can be secure in their ownership without overpaying due to a lack of knowledge or representation. At MoXi, it is our responsibility to provide thoughtful guidance when making your global real estate investment dream come true.
At MoXi we can ensure a secure and safe transaction through the structure of SOFOMs - regulated, audited non-bank financial institutions. This level of assurance and security does not exist with other cross-border lenders.
At MoXi, we don’t just provide a mortgage, but partner with our clients to help them navigate the nuances of homeownership in Mexico. Since municipalities often do not send out paper or electronic property tax bills, we track those details for our clients, collecting them through the monthly mortgage coupon. Furthermore, we ensure that annual fiduciary bank fees for owning property in restricted zones are paid on time so that ownership remains with the client and is never threatened.