In a recent interview with TOPMexicoRealEstate NETWORK, "Your Expert Property-Finders"
In the interview, Keenan first discussed some of the specific processes which can be problematic if buyers do not follow the right steps. "Raw" land or beach - i.e. in an underdeveloped area - presents greater risks to the buyer than a home already built that has other homes on all sides of it. Keenan pointed out that the risk can be avoided using the services of a title company, which will guarantee that the property size and location is properly defined and titled. A fideicomiso - bank trust for foreign of Mexico Real Estate - provides "another layer of protection."
However, Keenan points out that the biggest possible risk is getting involved with the wrong agent - someone who does not live up to the necessary level of professionalism.
"The largest risk is to NOT use reputable professionals,"
This observation leads to the point that the best way to avoid the risks involved in buying real estate in Mexico is to find the right agent. Keenan advises not only to get references, but to get "lots of them." And, of course, it is necessary actually to check them. This step will help the buyer to see how many return clients the agent has; this kind of satisfaction and community reputation is a important indicator of other indispensable characteristics, such as professionalism, experience, certification, and education, and they show that the agent uses these elements to benefit his clients.
Beside checking satisfaction, it is likewise important to investigate the official level of professionalism the agent has. A license or career in real estate in the USA, Canada, Mexico or Europe can be used as indicators. These documents show that the agent has the knowledge to carry out transactions properly and safely, and a dedication to improving their service.
"Choose an agent who has made a career out of marketing real estate," said Keenan. "An agent who has taken the classes, received the certifications and has worked to stay on top of their field."
Keenan likewise advises to trust your instincts. "If your gut is saying, 'careful something stinks here!'" advises Keenan, "Listen to your gut! Do your due diligence. Check references."
Several other professional services are necessary to guarantee that the transaction is carried out smoothly and safely. Among these, Keenan mentioned a notary public, a title company, a and bank, for the fideicomiso. The top key player, again, is the broker or agent. The right broker or agent will likewise help you find the other professionals you need.
Mitch Keenan, founder of Mexico International, which has served as the Yucatan Real Estate area's top real estate agency for 10 years, is knowledgeable of and committed to U.S. standard professional business practices. He is trained in the U.S. and is both certified and licensed as a Real Estate Broker. Through his company, he strives to provide the safe, efficient and professional services for purchasing for purchasing property in Merida and Yucatan.
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