Don't Buy Property In Playa, before reading this

Playa Del Carmen is a popular getaway and second home destination for Americans and Europeans. Every year many foreigners lured by the scenic beauty of this beach side area are flocking to Playa del Carmen. Naturally, this popularity has resulted in a booming Real Estate market in Playa del Carmen. More and more people are dying to buy Playa del Carmen Real Estate.

Though, real estate in Playa del Carmen is a very lucrative and good long term investment, many factors have to be considered before buying Real Estate in Mexico.

There is a misconception that foreigners cannot buy property in Mexico. This is NOT true! Any foreigner or Mexican National can establish a Fideicomiso (the equivalent of an American beneficial trust) through a Mexican bank to purchase real estate in Playa del Carmen or for that matter anywhere in Mexico, including the Restricted Zone. For practical reasons, even in unrestricted zones, many foreigners, and Mexican Nationals for that matter, prefer to hold their property under a Fideicomiso.

To do so, the buyer requests a Mexican bank of his choice to act as a trustee on his behalf. The bank, as a matter of normal course, obtains the permit from the Ministry of Foreign Affairs to acquire the chosen property in trust.

The Fideicomiso can be established for a maximum term of 50 years and can be automatically renewed for another 50-year period. During these periods you have the right to transfer the title to any other party, including a member of your family.

The bank becomes the legal owner of the property for the exclusive use of the buyer/beneficiary, who has all the benefits of a direct owner, including the possibility of leasing or transferring his rights to the property to a third party or pre-appointed heir.

The trustee is responsible to the buyer/beneficiary to ensure precise fulfillment of the trust, according to Mexican law, assuming full technical, legal and administrative supervision in order to protect the interests of the buyer/beneficiary. Fideicomisos are not held by the trustee as an asset of the bank.

Another alternative is to purchase non-residential property through a Mexican corporation, which under certain conditions can be 100% foreign-owned, with a provision in its by-laws that the foreigners accept being subject to Mexican laws and agree not to invoke the laws of their own country. Also, they agree that the mexico real estate acquired be registered with the Foreign Affairs Ministry and be used for non-residential activities. In other words, under these conditions foreigners can directly acquire properties destined for tourist, commercial and industrial use.

Cancun MLS Online

When searching for Cancun MLS online, you should look for the best features that an MLS site has to offer – convenience, organization, options, filters and information. You should try to find a site that is truly everything you will ever need when looking for Cancun MLS online. You should be able to easily navigate through Cancun Mexico real estate searches and find exactly what you are looking for.

The Cancun MLS online site that you rely on should feature specialized Mexico real estate agents who can help you find the property you are looking for along the Riviera Maya and throughout Cancun . Once you find the right site, really take your time to search Cancun MLS online in order to determine every option that is available to you as a buyer or a seller of a property. Cancun MLS online should allow you to search all homes available for sale in the area easily and without a lot of hassle. In addition, sellers should find real estate agents who offer them maximum exposure along with the professional services you deserve and should come to expect. Regardless, the Cancun MLS online should help you find the finest real estate available within your budget.

If you are thinking about selling your Cancun condo or home in the next few months, you should consider using Cancun MLS online options to do so. Yeah, a sign in the yard won't hurt, but there is no comparison between that old school method of selling a property and the new options offered by Cancun MLS online. This service is free and is designed to help not only sell your property but also to establish the current market value of your Real Estate in Cancun. Simply fill out a bit of information and you will quickly be in business – on the road to selling or buying your dream home in Cancun !