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Whether you are looking for a colonial style home in the heart of Merida’s Centro district, or a relaxing retirement home on the beach, we are here to help.
Buying a property in Mexico is not as simple as finding a listing online, viewing the property, then buying it. There are many hurdles and processes in Mexico compared to other western countries which, if you do not know how to navigate, can end up becoming a costly transaction. Fraud in property transactions in Mexico is quite common, as the regulations here aren’t as robust as say the United States, Canada or Australia. With this being said, Mexican Time Expat Services provide a free building inspector for each viewing to ensure the property is up to standard, and also free legal advice to ensure that the person selling the property is in fact the owner. This is essential as it’s also quite common for a person to try and get you to pay a deposit on a property that they don’t own, and disappear with your money.
Why deal with Mexican Time Expat Services, and not directly with a real estate agent?
This is a good question that we get asked a lot. There are a few points to consider when buying a property, and for these reasons we believe that dealing with us will make the experience a lot better than dealing with the real estate agents directly.
More Choice in Properties for Sale or Rent
When dealing directly with a real estate agent, they are going to offer you the properties that pay them the most commissions. For example, if the deal directly with the owner of the property and you buy it from them, they make a 6% commission (6% is the going rate more or less here in Merida). There is nothing wrong with this, as the commission they are getting paid is the standard rate. However if there is a dream home that you like and its listed with another agent, they might only earn a 3% commission, as they need to split it with the listing agent. This can motivate the agent you are dealing with to find fault in your dream property, to convince you to buy the one that pays them 6%.
With Mexican Time however, we have agreements in place with many reputable and legitimate agencies where we earn a capped commission from the sale of 3%. So when dealing with us, you can choose any property that you like, and it has no financial affect on us. Also with us, because we have agreements with so many agents in Merida, we can provide you many more options to view.
Knowing The Property You Buy in Merida Is Structurally Sound
When viewing a property with a real estate agent, it can be very easy to fall in love with your new home and commit to purchase it on the spot. This can work out well in most cases, however it’s important to know if the property is structurally sound. Real estate agents are motivated by the sale, and are only paid if they sell you a property. Keeping this in mind, they can sometimes avoid any processes that can slow down the sale, such as hiring a building inspector.
In Mexico, hiring a building inspector is not as common as most western countries. Although the homes here are built quite well, we believe it’s important to have the property looked at by a professional engineer to confirm whether or not the property is ok to purchase.
With Mexican Time, we bring our building inspector free of charge to our clients to every property viewing, so you can know on the spot whether or not the house you are wanting to buy is structurally sound. A small cost to us, we believe in the long term that if all of our clients are happy with their purchase and don’t have any nasty surprises, the cost of bringing the inspector will more than pay for itself.
On The Spot Merida Home Renovation Estimates
Real estate agents can make promises of helping with renovations after the sale is complete, so your home is perfectly suited to your needs. The issue in Merida is that a lot of agents exist that make promises that they have no intention of keeping. The result of this is that you are left with a home that you have purchased that doesn’t suit your needs, and you are then left to search for someone to renovate your home, which unfortunately is an industry riddled with fraudulent operators who regularly steal money from expats such as yourself.
Mexican Time Expat Services will bring the building inspector who will not only ensure your property is structurally sound, but also be able to provide you an on the spot estimate of what it would cost to provide the renovations or upgrades to your home. A new air conditioner, remove a wall, add a pool, whatever it is, by the end of the property viewing you will have an estimate so you can factor it into your purchase price.