Yucatan Real Estate expert, Mitch Keenan, of the TOPMexicoRealEstate Network, has recently joined several of the Network's other real estate experts in contributing to a new series of articles featured on the network's website. Keenan's contributions can currently be found in "How to Buy Real Estate in Mexico ... Safely!" and in the near future will include "TOP 5 Most Common Mistakes made by Non-Mexicans when buying Property in Mexico" and "What to Watch out for in a Promissory Contract."
While Keenan's focus in geographical terms is Yucatan Real Estate, especially Merida, Yucatan and nearby areas, his advice for real estate buyers is indispensable for property purchases anywhere in Mexico. In the article "How to Buy Real Estate in Mexico ... Safely!" Keenan summarizes the ideas of the other panel members when he points out that if a buyer does not choose qualified people to carry out their transactions, they are exposing themselves to many risks in a business culture very different from what they are used to.
"The largest risk," says Keenan, "is to NOT use reputable professionals."
Keenan also contributed some valuable tips on how a buyer can make sure they are dealing with a true professional, the agent being the most important. His advice is as follows:
- ask for LOTS of references
- check the references
- find out how many years they have been in the business
- talk to community members – What kind of reputation does he have in the community
- check for certificates from Mexico, as well as licenses from the U.S., Canada, Europe or Mexico
- ask if the agent has taken classes and kept up with the field – check certificates
- find an agent that you feel comfortable with – avoid a situation where you do not feel comfortable
Other professionals important to making a transaction go smoothly who Keenan mentions are the Notary Public, the Title Company and the Bank. Keenan explains that certain property types – undeveloped land or beachfront in an undeveloped area – present higher risks to the buyer than others. Using a reliable title company will help a buyer avoid these risks. The bank can also play a part to help the buyer in this area.
"When a fideicomiso is issued by the bank to hold title," explains Keenan, "it does provide another layer of protection to the buyer."
In Keenan's advice, the highlighted issue is choosing experienced, reliable professionals, especially the agent or broker. A reliable agent will help give the buyer the information needed to choose the other professionals correctly as well. The article includes further discussion and details from other panel members.
This article, along with 2 others which focus on key advice for non-Mexican buyers of Mexico real estate have been given special attention through a flip page on TOPMexicoRealEstate.com's main page, linking to each article to ensure that new buyers are made aware of these issues. In the near future further articles with input from Keenan and others will appear in this section.
TOPMexicoRealEstate NETWORK; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
