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Q: What are the biggest mistakes that buyers should avoid?  Lorie M. Vancouver

A:  Purchasing a home is one of the largest investments you will make in your lifetime. Therefore, failing to plan and research will certainly get you off on the wrong foot.  Having a plan, being confident and in control is a good path to getting the best property at the best price with the least amount of stress.  Do not try to “do it yourself”.  Competent, professional advice and guidance are invaluable in making a sound investment decision.  Start interviewing AMPI Realtors early in the process and choose a strong buyers advocate.  You also need to know where you stand financially, and where your investment limits are.  If applicable, ask your Realtor to recommend a loan broker with a proven track record and excellent service.  There is nothing more frustrating than finding your perfect dream house and then not being financially pre-approved!  You can’t possibly know all the neighborhoods here as well as your professional AMPI Realtor who searches them for a living.  Discuss your lifestyle, likes and dislikes with your Realtor so that you do not end up choosing the wrong location or type of property.  Once you find your dream home, you want to get the best deal possible.  Don’t forget to ask for a comparative market analysis on the property before making an offer.  This is the same kind of report the seller receives when deciding on an asking price.  It is imperative that you have the same information in order to make the best offer.  After you have made your search, paid for the property, and either moved in or possibly rented your home, the last thing you need is a costly repair.  So do not forget to have a home inspection.  Your AMPI Realtor can recommend several competent inspectors, so make sure you use them.  Many buyers believe the best way to make a good deal is to start with a “lowball offer”.  This is a strategy from a naïve buyer who may not know all the details of the sale.  There is no point in antagonizing or insulting the seller.  Many sellers have made significant price reductions or are offering other terms that are of substantial benefit to a buyer.  Consult with your Realtor and make a strong offer with constructive terms.  Finally, if you find your dream home in paradise and it meets the majority of your needs, make an offer!  Don’t miss out on the best deal available in the marketplace today.  What is available today may not be there tomorrow.  If you follow your action plan, you can make a safe and secure investment.   Then you can enjoy the benefits of ownership in paradise and be free from worry and second-guessing!

Do you have a question about Real Estate in Puerto Vallarta?  Just ask!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at:  pvgetaways@hotmail.com

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Q: What are the biggest mistakes you see sellers making in the market right now? Joan O. California

A: With mortgage financing now a reality, and many home prices being reduced dramatically, we are seeing a strong return of buyers to the market. There is still a plenty of bad press, economic uncertainty, and frankly, buyers are now getting their “revenge” from what many saw as irrational price increases in the previous several years. Therefore, the biggest mistake seller’s can make is to not listen to the market. Many sellers form an emotional attachment to their property and are not willing to price appropriately. They make comments to justify outlandish pricing such as; “my cousin Vinnie said…” “It was appraised at…” “I paid this…”; but guess what, the only “real” price for a property is the price that a qualified buyer is willing to pay! One reason that so many properties are overpriced is that many sellers do not scout the competition. It is critical to not only know the exact market conditions in the area and have a firm grasp on pricing and sales trends; but they must also see firsthand the other properties. Open houses are a perfect opportunity to do this. There is a new dedicated website for open homes in our area, it is: www.openhouse.com.mx.
Another big mistake is not prepping the property for showing. Buyers have a lot of choices these days and can be very picky. So sellers need to make sure that their property shines. Indoors and outdoors should be immaculate, and all clutter should be removed. Many sellers believe that they need to be present during showings. Wow, what a big mistake this is! Nothing gives a buyer a more uneasy feeling than a clingy seller following them around and not allowing the agent to do their job. The next big deal killer is for the seller to take negotiations personally. Buyers are routinely being tough on sellers and asking for larger price reductions, help on closing costs or perhaps even seller’s financing. It is important for sellers to take this with a grain of salt (or tequila as the case may be!) and understand that this is just part of the business transaction. It is not about the seller, it is about the buyer being careful and trying to get the best deal possible. Therefore, sellers should not sneer at offers. Sure, many buyers are making “lowball” offers right now. But that does not mean they do not want to buy the property! It means that they DO have interest and they DO want to buy the property! So negotiate Mr. Seller! Do not procrastinate and do not obstinate. Finally the sellers need to check up on their agent. Gone are the days when an agent could just throw a sign up in front of a property and expect multiple offers in a matter of days. Market conditions are much tougher now and making a sale requires sound marketing, dedication, knowledge, and superb communication and negotiation skills. Sellers should make sure their agent is a member of AMPI in good standing, get references from previous clients and interview their agent in depth before selecting the best person for the job. And once that is done, they should listen to their agent and trust their knowledge and expertise. OK, time is up for now, but don’t worry Mr. Buyer, we will have some advice for you next week!
Do you have a question about Real Estate in Puerto Vallarta? Just ask!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: pvgetaways@hotmail.com

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Q: What is “Ejido” land? Can I buy it? Mario B. Chicago

A: Ejido land is communal land that was passed down to peasant communities after the Mexican Revolution. It is typically agricultural type land and is akin to Indian Reservation land in the United States. Ejido properties are off limits to the foreign community, despite the fact that many have “purchased the rights to use” these properties through what is called a “prestanombre” (literally translated, lent name). It is possible to “Regularize” ejido property and convert it into a fully titled property. This allows anyone, including foreigners, to ultimately own the property, but the process requires the agreement of the entire community that owns it. This process can be costly, time consuming (five years is not uncommon) and is not guaranteed. If you are not scared off by the above, find yourself a firm that specializes in the regulation of these properties and seek independent legal counsel as well.

Q: I want to take what is left of my 401(k), come down and buy a place off the beaten track and live like a local. My kids say I should rent a place first, then find an AMPI Realtor, make an extensive search, check out ALL the listings in the local MLS and learn more about the local culture and customs. They also want me to investigate banks, supermarkets, health care and immigration requirements. And if I find something I like, they want me to ask to see title to the property, consider having an inspection and survey and confirm that there are no liens or encumbrances against the property. Finally, they are INSISTING that I do not give any money to a seller before the closing, that I only put my deposit in a U.S. Escrow account and formalize any Real Estate documents in front of a Notario Publico! What advice can you give me in order to stop the nagging, get these know-it-alls off my back and live out my golden years in peace? Free Spirit, Pasadena

A: Kids can be so demanding these days! It is particularly frustrating when you have worked hard all your life to raise them and save enough for retirement. Hey, it is your money and those party poopers’ should just mind their own business. However, a Real Estate purchase is a big undertaking, especially in a foreign country. So here is what you should do: Consider renting a place first, then find an AMPI Realtor, make an extensive search, check out ALL the listings in the local MLS and learn more about the local culture and customs. Then, investigate banks, supermarkets, health care and immigration requirements. If you find something you like, ask to see title to the property, consider having an inspection and survey and confirm that there are no liens or encumbrances against the property. Finally, do not give any money to a seller before the closing, and put your deposit in a U.S. Escrow account and formalize any Real Estate documents in front of a Notario Publico!
Do you have a question about Real Estate in Puerto Vallarta? Just ask!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: Michael@tropicasa.com

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Q: I have been trying to sell my condo in Conchas Chinas for over a year and so far no offers. What should I do to get it sold fast at the best price? John H. Detroit

A: Prospective buyers form their opinions about your property within the first 15 seconds. Therefore, you have to make your home as appealing as possible, as quickly as possible to the broadest clientele you can. The new buyers need to imagine THEMSELVES in your property, living the good life. Otherwise, they will not be interested in your property and you may never get an offer. The first thing to do is make a good first impression. Re-paint your front door and change the old hardware. Place planters on either side of the door with flowers in vibrant colors that excite the senses. Inside the entry way, make sure the paint is creamy white and fresh and the floors look great. All you need for décor is a thin table, a lamp and a vase with fresh flowers. Then get rid of the clutter. All the newspapers, mail, laundry, personal photos, collections and knickknacks must go. Take all the furniture out of the rooms and bring it back one piece at a time. Only the items that are essential should stay. And arrange them to showcase the view, not block it! Streamline your kitchen counters. You can keep the coffee pot, but put away the toaster, blender, dishes, storage tins and fruit bowl. You want sleek, clean lines. You want the buyers to think, “Wow, look at the counter space!” And the views, DON´T block the views. Once you get organized, keep everything neat. Polish the floors and put on a fresh coat of paint. The bathroom can never be too clean, so hide the shampoo bottles and get rid of the old bathmat. Search and destroy odors. If you can smell it, we CAN´T sell it. Make your home feel as spacious as possible. Closets should only be half full. If buyers see a jam-packed closet, they will think it will be too small for them too. Bedrooms only need a bed, night table, lamp and maybe a comfy reading chair in the master. So get rid of the exercise bike and pair down your excess belongings. Pull the furniture out a few inches from the walls, and make sure the corners of rooms are visible. Next, you want to “lighten up”. No, not you, your place! Get rid of any big heavy curtains, and install sheer window coverings and pull them to the side wherever possible. You want the buyer to come in and think, “I could live here, it’s nice and bright.” Then find yourself a superstar agent who will spend some real time and effort marketing and selling your property. Ask for referrals and get someone in AMPI and the MLS. Finally, think price, price, and price. Because everybody wants to think they are getting a good deal right now.

Do you have a question about Real Estate in Puerto Vallarta? Just ask!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: pvgetaways@hotmail.com

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Q: We are thinking of moving here full time and have two school aged children. What are the points of comparison and range of costs? Holly W. Oregon

A: Most of the foreign community takes advantage of the wide range of private bilingual schools throughout the bay. The largest concentration of these schools is found inland from the hotel zone. One school in this area is fully-bilingual and bicultural with classes one-half day in Spanish and the other half-day in English. Most of the English teachers have English as their first language and are from the United States and Canada. Many US holidays are celebrated so the children will still celebrate Thanksgiving, Halloween and St. Patrick’s Day. The curriculum is challenging, however the English level is probably the equivalent of one grade lower than in the US. There are two campuses, one for grades pre-kinder to grade 6 and the other for grades 7-12. The cost is approximately $5,000 USD per child/year and bus service is available to most outlying areas at an extra fee. In this same area there is a bilingual Catholic school. The cost is approximately $4,500 USD per child/year.
Nearby is also a smaller school with a charming grassy campus and Montessori theme. Homework is posted online, a bonus for busy parents. Cost is approximately $4,000 USD per child/year.
Near the airport is one of the newer bilingual schools. The large campus features an Olympic size swimming pool and optional swimming classes. This is one of the most affordable options and there are numerous scholarships available. Cost is approximately $3,500 USD per child/year. Also in this area is one of the most highly regarded schools. The majority of the teachers have their degrees from the US, the campus is spacious and well cared for, there is an active PTA and many of the children receive scholarships to universities in the US and abroad. There is a plethora or after school activities. This does not come cheap with tuitions starting at about $8,000 USD per child/year and there is also a waiting list. Near Nuevo Vallarta is another newer secular school with a lovely campus, large gymnasium and classes in gymnastics. Small class sizes with the emphasis on Spanish. English teachers are predominately native Spanish speakers. Cost is around $4,800 USD per child/year.
Many of these schools start at 8AM for primary and 7:30 for junior and high school, so you may want to consider a school near where you live. Some other things to consider are: teaching methods and systems, curriculum, teachers and principals credentials and test grades. Class sizes, care and appearance of the campus and even air conditioning capacity are other items to consider. And of course, nothing beats word of mouth and a strong “thumbs-up” from parents and children themselves, so ask around and see what your neighbors are saying!
Do you have a question about Real Estate in Puerto Vallarta? Just ask!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: pvgetaways@hotmail.com

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Q: I am scheduled to take possession of my new condominium next week. I am excited, but nervous too. What do I do now? Brian K. Calgary
A: The first thing is to ask the developer’s representative to accompany you on a “walkthrough” inspection of your new home in Puerto Vallarta. During this inspection you want to make a written “punch list” of any damaged or missing items and note any repairs that are necessary. You may want to start by reviewing all doors and windows. They should be well-fitted, easy to open, close and lock. The floor tile should be evenly laid with no high spots, cracks or scratches. In the bathrooms make sure there are no chips in the bathtub, toilets, sinks and flooring. See that the cabinets are not loose, lights and fans work, and the caulking is applied correctly. Check for leaks. Open and close all the kitchen cabinets and make sure there are enough electrical outlets and they are working. Counter tops, sinks, and appliances should not have any damage during the installation. Test all the appliances for proper functioning including the hood fan and light as well as the kitchen lights and switches. Check the paint job throughout and note any scratches, splotches or drops.
Then you want to review the cooling systems (air conditioning and ceiling fans). Make sure they are all in proper working order and get the remote control units if these are included. Next, locate your electrical breaker box and confirm there are enough circuits available and they are labeled.
Then check the hot water heater for proper function. Turn on the hot water and check the temperature and the pressure. Ask if there are main shut off valves for gas and water and note these locations.
Finally, review the common areas for note items still to be completed. Check the status of the pool is it complete, where is the machinery, is it operational. Elevators and garage doors need the same reviewing. In the garden areas note any lacking green areas or construction materials that are still left on grounds.
Have the developer’s representative sign and date the punch list and keep a copy for your records. The items listed “needing attention”, are delivered to the developer and a timeline should be agreed upon so that he can repair such items.
If you miss something on the punch list, or there are unseen problems arise in your unit, here is some good news! Jalisco state law provides a six month guarantee of workmanship and function. This also covers hidden defects. As we discussed above, it is best if you have the majority of defects listed on a written punch list.
This can save a lot of time and effort on your part. However, when items do crop up, most developers will professionally attend your requests. They know that your goodwill and happiness are the keys to success in future projects.
Do you have a question about Real Estate in Puerto Vallarta? Just ask!
Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: pvgetaways@hotmail.com

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Q: I just saw a beautiful new beachfront condo project on the south coast. The renderings look great and I am thinking about buying a unit. What questions should I be asking the sales agent? Mary K. Chicago

A: One of the first things would be to see the Deed of Title on the land where the project will be located or “escritura”. Verify that the land is owned by the developer and if the developer is a corporation, ask to see the articles of Incorporation and Power of attorney. Is there a master policy of Title Insurance? The next items to ask for would be approved construction permits, ground use, feasibility studies and density approvals. Beachfront is highly desirable here for obvious reasons, however it is very important to understand that the beach is public property, owned by the Mexican Nation. Therefore, it is critical that your development has a Federal Maritime Zone concession and is not encroaching on the federal property. Also, if your development runs along the highway, that is ALSO federal zone and subject to setback limitations. So take a good look at your parking plans and understand that you will never have a “deeded” parking place in the federal zone! Typically, developments have a form purchase agreement. Ask to see the boilerplate agreement and look for the following items to be included: plans and specifications of your particular unit and the common areas, construction calendar and penalty clause in case of non-compliance, rules and regulations for the condominium and payment schedule. If the sales team is promising specific amenities, these should be detailed in the contract. Then you want to know where your payments are going. If the developer will be using these funds in order to build the project, what kind of security will he offer in order to insure the project will be completed? Is there an administrative trust in place? Is it possible to get a completion bond? If the payments are directed to an escrow account, how will they be released? Verifiable levels of completion would protect you better than calendar dates. Finally, and perhaps most importantly, what do you know about the developer? Have they completed other projects in the area? Do they have experience building on the beach? If they have had issues in previous buildings, what are they doing to improve yours? There are many outstanding developments in the bay that have the items listed above on file and will allow you to review them. Keep in mind that while the developer is building the project, it is YOUR money that is making it all possible! You can make an offer, even on a new development and negotiate a contract that is fair to both you and the developer. Purchasing in a new development can be a dream comes true if you use prudence and sound judgment. Enlist the help of an experienced AMPI Realtor to help you review documents, contracts and act as your advocate.

Do you have a question about Real Estate in Puerto Vallarta? Just ask!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: pvgetaways@hotmail.com

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A: How was your “high season” this year? Ray Y. Miami

Q: We saw a significant increase in buyer interest and sales activity this year as compared to 2010. One well established office in town reported that they have amade as many sales this year as they did all of last year. Canadian buyers were very active in order to take advantage of their strong dollar and Mexican buyers also snapped up some great deals. Unfortunately, American buyers are still in the doldrums thanks to economic turmoil and overhyped media reports of drug violence and insecurity in Mexico. The world economic turmoil undoubtedly trimmed the nest eggs of most new buyers entering this market. Therefore, a “return to affordability” was one of the primary drivers of the market this year. Properties priced from $150k to $300k were right in the sweet spot for most buyers and this market was extremely active. Existing properties that were well priced and well located were in high demand; as buyer’s really like to see, feel and experience the property first hand before buying. New developments with great location, excellent price, superb design and a proven track record from the developer also did well. A couple of new south side developments of 50 units were already over half sold out prior to breaking ground. The $300k to $600k market remains slow as these upscale buyers hunker down and wait for better times. Until the American buyers return, this market will be slow. Luxury properties priced over $1 million USD have never been a large percentage of the overall market; however we saw numerous sales this year as motivated sellers reduced prices to levels that were irresistible to sophisticated and savvy buyers. The government’s huge investment in infrastructure with improved roads, sidewalks and bike lanes, second bypass tunnel, beautification of “Restaurant Row, new Malecón boardwalk and Los Muertos pier could really pay off in attracting more new and upscale buyers to our market. This season it appeared that buyers began to realize that the Real Estate market in Puerto Vallarta is strong, stable and offering excellent bargains for retirement and mid to long term investing. There was never “subprime lending” here in PV and consequently there is no mortgage crisis or foreclosure market here. With $US financing now readily available (typically with a down payment of 25-30% and interest rates as low as 6%) a vast new market is poised to emerge as rates become more competitive and qualifying and closing become more streamlined. One of our most experienced loan brokers reports that 2011 has already been his best year ever. In summary, I am cautiously optimistic about the coming year; cautious because of the continuing concerns about drugs, violence and excessive inventory but optimistic because of the strong recovery that has characterized 2011 so far. Plus the natural beauty that surrounds us and the resilience of the local residents is truly inspiring. Now, if we can just figure out how to make it through the summer season, we will be poised for a strong high season in 2012!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: pvgetaways@hotmail.com

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Q: I will be spending my first summer in PV. How do I keep myself and my house cool and comfortable? Gene W. Montreal

A: Of course the obvious answer is to lock all the doors and windows, crank up your air conditioner and chill-out in a catatonic bliss. And let’s face it; on the hottest, most humid afternoons in the “dog days” of August, this can seem like a pretty good idea! However, this solution is not very frugal or eco-friendly, so here are some other tactics that have worked well for me:
1. Get the air moving. Even a slight movement of 1 mph can make you feel a few degrees cooler. Ceiling fans are the best; make sure the blades are pointed so the air is directed downward. Portable fans are great in spaces where ceiling fans will not work. Either option allows you to raise the thermostat on the A/C and still remain comfortable.
2. Install shades, drapes and blinds. The best way to keep your home cool is to keep the heat out! There are some excellent blinds out now that cut out the UVA rays, allow for privacy and still let in the view. Choose lighter colors that reflect the sun’s rays.
3. Keep down the internal heat. The largest indoor heat generators are the stove/oven and incandescent lighting. Try to cook outdoors on the hottest days and use your range fan to exhaust heat outside the home. Replace incandescent bulbs with fluorescents wherever possible. These produce one/fifth the amount of energy and hear for the same amount of light.
4. Plant trees and shrubs. Just several strategically placed shade trees can significantly reduce your energy bill. Tree shaded neighborhoods are typically 3-6 degrees cooler here. Avoid landscaping with un-shaded rock or cement especially on the south and west sides of the home as this increases temperatures around the house and radiates heat after the sun has set.
5. Dress the part. Avoid wearing clothing made from synthetic materials. Light colored clothing in natural fabrics such as cotton and linen not only feels cool, it looks cool too. A nice sprinkling of talcum powder before dressing will keep you feeling cool. And if this fails, have a couple of gel packs or moist washcloths handy in the fridge. These feel great behind your neck on hot day.
6. Take advantage of cool places. Do your shopping, take in a movie, or enjoy a meal in an air conditioned restaurant during the hottest part of the day.

When all else fails and you need to use the air conditioner, make sure that the filters have been changed, nothing is blocking the air intakes and the system is fully charged. Also make sure your home is sealed tightly, there is no point in air conditioning the outside. And when you are sweaty and grumpy, don’t forget to drink lots of water and think cool thoughts. October will be here soon enough and you will be here enjoying perfect weather while your friends back home are facing six months of rain, sleet, snow and darkness!

Do you have a question about Real Estate in Puerto Vallarta? Just ask!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: pvgetaways@hotmail.com

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Q: I am thinking about selling my condo in Gringo Gulch and buying a house. What expenses will I have and how do I pay? Sheryl, P.V.

A: You must pass your title free and clear of any liens or encumbrances. Prior to the closing, the Notario will order a no liens certificate from the Public Registry. Therefore, you will need to pay all utility bills up to the closing date. You must also liquidate and pay severance to any domestic employees. This should be done in front of the local labor board, and it is important to get a signed receipt, as the lien stays with the property and would come back against the new owner. Your condominium homeowners administration fees must also be paid up to the closing date and you will be asked to provide the new owner a copy of a letter from your administrator proving payment. You must also have your property taxes (“predial”) paid up to date. The bank trust fee must also be paid current, and typically there will be a bank fee to cancel or transfer the trust. I sure hope you have made a profit on your investment, and in that case there will be a Capital Gains tax to pay. If you are a Mexican citizen or a foreigner with tax residency of Mexico, you may be totally or partially exempted from this tax by virtue of your residence. Foreign visitors will need to pay the tax, which it currently set at 30% of the net gain. The Notario will help calculate and is responsible to collect this tax, so it is critically important that you keep all your official receipts (“facturas”) on any improvements or expenses you have had and provide these to the Notario in order to raise your tax basis. It is also important to understand that the legal currency here is Mexican pesos, so with the current weakness in the peso vs. the Dollar, even though you may not have a gain in Dollars, you may have a gain in pesos, which will be taxable here in Mexico. The good news is that you can claim this payment as a tax exemption back in the US. Your local AMPI Realtor can guide you through this process, and help preserve and protect your rights. Ask around and select a knowledgeable expert. You will have to pay Real Estate fees, but the expert advice is well worth the cost. Selling a property here is a complicated business and mistakes can be costly and must be avoided. Ask for a “factura” and you can write the fees off against those nasty Capital Gains taxes mentioned above. Good luck and good selling!

Do you have a question about Real Estate in Puerto Vallarta? Just ask!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: pvgetaways@hotmail.com

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Q: I just bought a condo in Nuevo Vallarta and the seller says we need to go to a Notary public. Why is this? We already have a signed contract of sale; does this have to be notarized? John R. New York

A: There are profound differences between a Notary public in the US and the Notario Publico in Mexico. In the US, the public Notary might be a bank clerk, secretary at the office, or practice any other occupation. In Mexico, the Notario Publico must have a law degree, verifiable experience, pass a rigorous exam and is appointed for a lifetime term by the governor of the state. Typically there is a Notario Publico for approximately every 30,000 in population. In Mexico, all legal documents, such as deeds, wills, powers of attorney, constitution of corporations, establishment of trusts and other legal transactions must be made before a notary public in order to be valid. If the document is not notarized by a Mexican notary public it is not legal! You should think of the Notario Publico here along the same lines as a Judge in the United States.

As part of the closing process, the Notario Publico will verify the following official documents, which are required by law for any transfer: A no-lien certificate from the public property registry, based on a complete title search; A statement from the treasury or municipality regarding property assessments, water bills and other pertinent taxes that might be due; An appraisal of the property for tax purposes. The Notario Publico is also authorized to calculate and collect any Capital Gains taxes generated by the sale. The Notario Publico also is in charge of registering your new deed with the public registry, and issuing a preventative notice of the sale with the Registry. Customarily, the Notario fee is paid by the buyer of a property as part of their closing costs. It is important to remember that the Notario Publico is an independent third party to your transaction. He will not be able to advise you on details in your contract such as: price, location, financing, and terms of sale. For that reason, I hope you have already sought the advice and counsel of an AMPI Realtor, who can act as your advocate. Many AMPI Realtors have formed strategic alliances with a Notario Publico liaison. These bilingual attorneys can assist with many of the above tasks at no additional expense to the buyer. Best of all, they live or die by the concept of “Customer Service”, making them an invaluable part of your closing process! Thanks to Jessica Riedesser at Riedesser y Asociados for help with this answer.

Do you have a question about Real Estate in Puerto Vallarta? Just ask!

Active in local and national Real Estate boards; published author and acknowledged expert on Puerto Vallarta Real Estate, Michael Green moved here in 1997 to take advantage of the unsurpassed lifestyle PV offers. Mike can be reached at: pvgetaways@hotmail.com