U.S. Title Insurance in Mexico
The real estate industry in Los Cabos is booming now with subdivided properties, master planed developments, condominiums and homes throughout its 200 mile region. In 1998 U.S. Title Insurance companies began offering title insurance for Trust Deed ownership in Mexico. Today protection for buyers is easily achieved.
Buyers can have more confidence then ever before regarding the security of their purchase. U.S. Title insurance can be purchased for properties in Los Cabos through the services of Fidelity-Global Solutions of New York, Sturat Guarantee Title of Mexico and US based, First American Title.
We at Baja Properties highly recommend title insurance to our clients. A title commitment can be provided prior to closing, however the actual insurance policy is issued to the purchaser when they receive their Trust Deed in their name. Some properties have title insurance commitments in place removing any doubt of the status of the title. Some properties do not meet the guidelines established by the title companies. Baja Properties will only show investors properties which can and will meet the standards of title commitments and insurance.
U.S. Mortgage Financing
Never before has it been easier, safer and affordable for foreigners purchasing real estate in Los Cabos. With the introduction of financing, U.S. Mortgage companies are offering long term, fixed rate financing for periods up to 20 years using your property in Mexico as collateral. This new chapter in Baja’s history makes it possible for those who could have only dreamed of owning a vacation home in Los Cabos, an affordable reality.
This new market of buyers is having a huge impact in the number of sales taking place in Los Cabos and on property values. Today a purchaser can place a down payment on a mortgage, rather than pay full price out of pocket. Most finance companies will lend up to 70% of the purchase price, with fixed interest rates averaging at 8%. Los Cabos is not longer exclusive to the cash buyer.
Once the U.S. Mortgage company has approved your loan, they will contact the Public Notary to draft the Trust document. The Trust Deed will be registered and you will make payments to the U.S. Company as you would any loan. Interest and other tax deductions apply in the United States.
Currently GE Financing is available through many new mortgage financing brokerages in Los Cabos. A pre-qualification form is available in any one of our Baja Properties office locations which can be approved within 24 hours, during your negotiations. Stop in today.
Back to Owning in Mexico