If you are thinking of becoming involved in Real Estate in Mexico, talk with Ai Real Estate Group first. We are the only AMPI-certified Real Estate agency in Sayulita, and are experts not only in buying and selling, but also in registration and titling, building permits, zoning, property management and rentals. Our experience with Mexican culture, language and the Nayarit Real Estate market, is augmented by the recent Real Estate Market Analysis that Ai Real Estate Group performed for developers, giving us the broadest possible perspective to serve you with.
- Real Estate Sales + Acquisitions
- Legal Matters (Subdivisions, Titling, Federal Zone, etc.)
- Title Search
- Annual Taxes/Trust Payments
Top Questions Answered
How do Real Estate agents work in Mexico?
There is no Real Estate licensing in Mexico. The closest thing is an association of Real Estate agents, called AMPI, which has a local chapter. It is best to work with an AMPI-affiliated agent as they are up-to-date on Mexican Real Estate law, and can guide you through the sale or acquisition process properly.
Buyer’s and seller’s agents will look out for their client’s best interests for a split of a commission on the sale, however, it is possible that the same agent represents both the buyer and seller for the full commission (usually between 6-10% plus IVA tax).
A seller’s agent will normally review all legal documents, educate the seller on applicable taxes and closing procedures, review details of the property with the owner to get the property ready for listing, create a listing contract for approximately 6 months, and promote the property to other agents and potential buyers.
The buyer’s agent will normally help to identify relevant properties, set up showings, prepare offers, review legal documents and coordinate the closing. It is not necessary to get counsel from a lawyer if the real estate agent is competent.
The entire Real Estate process must go through a Public Notary, which is a specific type of lawyer who has authority over all land transactions and takes lead from the agent.
What does Ejido, Titled, and Ready For Trust (Fideicomiso) mean?
These are very important concepts to understand as you look for property in and around Sayulita. Ejido land is land that does NOT have Title and cannot be legally purchased by a foreigner. In many cases, it can be Titled, but requires an obscure about of time and funds (Ready For Title is commonly used term you may see in various property listings and descriptions).
Buyers should be looking for Titled property. It is identified with either a Titulo or Escritura designation (which if currently owned by a foreigner, is held in a Trust or Fideicomiso) and is Registered at the public registry. A Fideicomiso is a Trust, and the only way that a foreigner can own land in the Restricted Zone (near the ocean or international border).
A Trust is a very safe and trusted way to hold property in Mexico (via a Mexican bank), which holds Title, but allows the trustee full-rights of use and enjoyment. As you look through property listings make sure you verify that the property is fully-Titled.
How expensive are property taxes in Sayulita?
OK. Are you ready? Brace yourself. Property taxes, called Predial, are quite cheap, and they are even cheaper if you pay in January or February. How cheap? It depends on where the property is located, its size and construction profile. Average prices in Sayulita are less than $300 USD per year! More significant taxes are placed on income… Rental property taxes can be significant as well, with up to 45% taxes routinely levied on the net income of the property.