Can foreigners buy property in Mexico?
Yes. Article 27 of the Mexican Constitution allows foreigners to acquire property anywhere in the country. In the restricted zone (50 km from coastlines, 100 km from borders — this includes the entire Riviera Maya) you need a bank trust (fideicomiso). Outside that zone, you buy directly under your name.
What is a fideicomiso (bank trust)?
A fideicomiso is a trust agreement with a licensed Mexican bank. The bank acts as trustee (legal title holder) and you are the beneficiary with full rights. You can live in, rent, renovate, mortgage, inherit, and sell the property freely — the bank only holds the title on your behalf.
Fideicomiso costs (2026)
- Setup fee: USD $1,500 – $2,500 (one-time).
- Annual fee: USD $500 – $800/year.
- Duration: 50 years, indefinitely renewable.
- Common banks: Scotiabank, HSBC, Monex, Banorte.
Step-by-step buying process
1. Search and offer
Find the property with a real estate advisor. A letter of intent or verbal offer is made. Once the seller accepts, you proceed to a promise-to-purchase contract.
2. Promise-to-purchase contract
A binding contract establishing price, payment terms, deadlines, and penalties. Typically includes a 5–10% earnest deposit held in escrow or paid directly to the seller.
3. Due diligence
Your attorney verifies: clean title, no liens or encumbrances, property taxes (predial) paid, no utility debts, zoning certificate, and that the seller has legal capacity. This step is critical — never skip it.
4. Fideicomiso setup
A permit is requested from the SRE (Ministry of Foreign Affairs) and the trust is opened with the chosen bank. Timeline: 4–8 weeks. The bank charges the setup fee at this stage.
5. Closing at the notary
The notario público (public notary — in Mexico they are government-appointed legal officials, not just witnesses) formalizes the sale, calculates taxes, registers the deed with the Public Registry of Property, and delivers the escrituras. Registration takes 2–6 weeks after signing.
Closing costs in the Riviera Maya (2026)
Closing costs are paid by the buyer and typically run 4–8% of the sale price:
- Acquisition tax (ISAI): 2–3% of assessed or sale value (whichever is higher).
- Notary fees: 0.5–1.5% of price.
- Fideicomiso setup: USD $1,500–$2,500.
- Certificates and permits: USD $500–$1,000 (appraisal, no-lien certificate, SRE permit).
Example: for a USD $300,000 property in Playa del Carmen, expect closing costs of USD $15,000–$22,000.
Common mistakes to avoid
- Buying without an independent attorney — never rely solely on the developer's lawyer.
- Not verifying the title is free of liens — some properties have hidden lawsuits or seizures.
- Signing a promise contract with no seller penalty clause — protect your deposit.
- Paying in cash without CFDI (tax invoice) — you need receipts for tax deduction and to prove source of funds.
FAQ
Do I need to be in Mexico to buy?
No. You can grant a power of attorney (poder notarial) to a legal representative who signs on your behalf. Many international buyers complete the entire process remotely.
Can I get a mortgage in Mexico as a foreigner?
It's difficult. Mexican banks rarely offer mortgages to non-residents. Options: developer financing (common in pre-construction), cross-border mortgage (few institutions like Intercam), or a home-equity loan from your country of origin using the Mexican property as collateral.
Ready to buy in the Riviera Maya?
At A•HOME Riviera Maya we guide you through every step of the legal process: from search to closing. We work with trusted attorneys and notaries so your purchase is safe, transparent, and surprise-free. Contact us for a no-cost consultation.