STEP-BY-STEP GUIDE TO BUYING IN RIVIERA MAYA

A fideicomiso (bank trust) is the standard legal structure used when a non-Mexican buyer purchases property in Mexico’s restricted zone: within 50 km of the coast or 100 km of an international border. 

Here’s what it means in practice:

• A Mexican bank holds legal title as trustee, and you are the beneficiary. You keep the practical rights of ownership and control.
   
• The trust is typically granted for 50 years and can be renewed (commonly renewed for additional periods).
   
• You can use the property, rent it, sell it, renovate it, and pass it to heirs (through beneficiary designation), subject to the trust terms and the notary process.
   

Important nuance (to keep this legally clean): financing and “mortgaging” can be possible, but it depends on the lender and structure, and it is handled through formal bank/notary steps rather than casually “like fee-simple.”

In Mexico, the first step is usually a written offer (often called an Oferta de Compra or Carta Oferta). It sets the key terms: price, timing, deposit amount, and any conditions.

If the seller accepts, the parties move to a formal purchase agreement (often a promesa de compraventa) and the closing process begins with a notary. A deposit is common, but the amount and when it becomes non-refundable varies by transaction and must be clearly defined in writing.

Important: penalties and “walk-away” terms depend entirely on what you sign. 

Do not send funds or sign documents until the terms, escrow/handling of the deposit, and closing timeline are clearly documented. We can help coordinate this step with the right local legal and notary support.

Once you choose a property in the restricted zone, the Notario Público coordinates the legal closing and the fideicomiso setup with the bank. Their job is to verify that the property can be transferred cleanly and that required payments are up to date (title status, recorded liens/mortgage, property tax and water fees, and other local charges). 

On the buyer side, the notary/bank typically requests official ID (passport) and supporting personal documentation. Depending on your case, they may also ask for proof of address and immigration status (tourist/visa/residency), plus other civil documents when relevant. Requirements vary by transaction and by bank/notary, so they should confirm the exact list in writing.

As closing approaches, the Notario Público prepares the deed, confirms the property’s legal status, and coordinates the official transfer. The seller is typically responsible for taxes related to the sale (such as capital gains), while the buyer usually pays the purchase price plus closing costs, including the acquisition/transfer tax, notary, and registration fees. 

At the signing, the deed (or the bank trust deed, if it’s a fideicomiso) is executed before the notary, and payments are completed according to the agreed structure. The notary then files the deed with the Public Registry of Property, which is a key step for public record and legal protection. 

Once registered, ownership is formally recorded—either in your name (outside the restricted zone) or in the bank’s name as trustee under the fideicomiso, with you as beneficiary. 

ForHouse can guide the process and coordinate the right local professionals for each step. For additional protection, many buyers also hire an independent local lawyer to review documents and timelines.

In many cases, you don’t need to be in Mexico for every step. With proper documentation and a clear, documented process, parts of the transaction can be handled remotely and coordinated through the notary and bank.

No. Foreigners can legally buy property in Mexico. If the property is in the restricted zone (near the coast or a border), ownership is typically structured through a fideicomiso (bank trust). Residency is not generally required to own property, but documentation and tax/administrative steps vary by transaction and should be confirmed with the notary and legal counsel before you sign or transfer funds.

Buying property in Mexico comes with one-time closing costs and ongoing yearly fees. Exact amounts vary by state and municipality, but these are the common items:

• Acquisition/transfer tax (ISAI/ISABI): A state/municipal tax paid by the buyer at closing. In many states it falls roughly in the 2–4% range.
   
• Notary + registration fees: The Notario Público formalizes the transfer and files it with the Public Registry. Fees vary by transaction and location.
   
• Typical closing-cost budget: As a practical guideline, many buyers budget around 6–8% of the purchase price for total closing costs, depending on the structure and location.
   

After purchase:

• Annual property tax (Predial): Paid yearly and usually modest compared to many countries, but it varies by municipality and cadastral value.
   

About VAT (IVA):

• Residential “casa habitación” sales are generally IVA-exempt under Mexico’s VAT law, so IVA is not typically charged on the sale of a residential home.
   

If buying in the restricted zone:

• Fideicomiso costs: A fideicomiso is a legal structure, not a tax benefit. It usually includes bank setup/permit steps and an annual bank trustee fee.
   

You do not need to be a Mexican citizen or resident to buy property in Mexico. Foreigners can purchase real estate legally, including in coastal areas (typically through a fideicomiso in the restricted zone). 

Buying property does not automatically grant residency. If you plan to spend extended time in Mexico, residency is a separate process and usually depends on financial solvency or qualifying investment routes. Some consulates offer a temporary residency pathway tied to real estate value thresholds, but it is case-specific and requirements change. 

If you’re visiting occasionally, a visitor permit (FMM) may be enough, but the number of days granted is at the discretion of the immigration officer and is not always the full 180 days.