“Fideicomiso” sounds complex. On the coast it’s standard and it works. The key is a clear step-by-step, clean documents, and written timelines. Here’s the map to reach closing without surprises.
Before you start: key concepts
- Restricted zone: a band within 50 km of coastlines or 100 km of borders.
- Bank trust (fideicomiso): the bank holds title; you hold rights to use, enjoy, and transfer. It’s the standard route for foreigners in the restricted zone.
- SRE (Secretaría de Relaciones Exteriores): federal ministry that authorizes the fideicomiso.
- Notary (Notaría): public official who formalizes the sale and deed.
- RPPC (Public Registry of Property and Commerce): records your deed.
- HOA (Homeowners Association): condo or subdivision administration.
- KYC/AML: identity and source-of-funds verification.
The path, step by step
1 - Pick the right legal structure
- In the restricted zone → bank trust (fideicomiso).
- Outside the restricted zone → direct title or Mexican company.
- Ask about setup and annual costs for the fideicomiso.
2 - Offer and escrow
Set price, timelines, penalties, and what furniture/equipment is included. Use an escrow account or a secure deposit method.
3 - Due diligence
- Title and liens, land use, condo regime, HOA minutes, no-debt certificates for taxes/water/HOA.
- If needed, a physical review: systems, defects, maintenance records.
4 - SRE authorization
Required for a fideicomiso in the restricted zone. Your notary and the bank will guide requirements.
5 - Notary closing
Sign the deed, pay taxes and fees, receive possession.
6 - Registry inscription (RPPC)
The notary files your deed. With the registry folio, your right is fully opposable to third parties.
7 - Post-closing
Onboard with the HOA, switch utilities (electricity, water, internet), and bind insurance.
Indicative timelines you can expect
- Offer and escrow: ~7 days
- Due diligence: ~12 days
- SRE permit: ~12 days
- Notary + closing: ~15 days
- Registry inscription: ~20 days
Costs to anticipate
- Notary and taxes: vary by municipality/state and deal value.
- Fideicomiso: bank setup and annual trustee fees.
- Filings and certificates: lien certificate, no-debt letters, appraisal if required.
- HOA: regular dues and potential specials.
- Insurance: hazard and flood where relevant.
Practical tip: request a closing budget with line items and estimates before signing the offer. Avoid last-minute surprises.
Minimum due-diligence checklist
- Confirm current owner and review chain of title.
- No-lien and no-debt certificates for taxes/water/HOA.
- Land use and compatibility with your plan (live, rent).
- For condos: Regime, Bylaws, HOA minutes, dues.
- Basic technical check: plumbing, electrical, humidity.
Quick answers
- Can I rent it out? Yes, unless the Bylaws prohibit it. Get it in writing.
- Can I buy without a trust? Not in the restricted zone if you’re a foreigner without naturalization.
- Financing? Often developer financing; international banks are case by case.
- How long does it take? Typically 5–9 weeks, depending on coordination and filings.
Actionable close
Ask for:
- A personalized legal checklist.
- A closing cost budget with three scenarios (base, +10%, −10%).
- A calendar with milestones and owners (notary, bank trustee, seller, buyer).