Prudential Vallarta Blog

There are many schools that Puerto Vallarta offers its resident locals as well as foreigners from all over the world, the majority Canadian and US citizens. Bilingual private schools, high schools or vacation schools for a quick course in Spanish can be found. A popular one is the Spanish Experience Center http://www.spanishexperiencecenter.com/ which caters to those with no skills and need to acquire the basics of Spanish or those who are already familiar and just want to refine their Spanish skills. This school is located in a beautifully renovated Mexican hacienda offering complimentary Wi-Fi access, a fully equipped kitchen, private showers so that you can rinse the salt and sand from yourself before class, a computer area, library, study area on the roof top terrace, 7 air conditioned classrooms and charming and professional teachers who offer education to their diverse group of students coming from all corners of the world.

For elementary school systems, I am the proud aunt of a niece and nephew, both trilingual (English, Spanish and Czech) who are Mexican Nationals. Their parents chose a charming school in the Gaviotas neighborhood called Instituto de las Americas Bilingue. Their educational level seems excellent and I truly enjoy visiting this facility to watch the concerts and events with the other children who seem as diverse in culture as mine.  If you enroll your child in kindergarten with no knowledge of Spanish, I can almost guarantee that after one season, they will probably be able to teach you the basics, sing the Mexican National Anthem and most importantly, the Pinata smashing song with the pride of a National.

So, if you are thinking of making a move to Mexico with young ones, teenagers, elderly parents looking to experience a new life and culture or you are single and are ready to learn a new language and meet new friends, Puerto Vallarta has something special that can enhance the lives of all.

This article is courtesy of Prudential Vallarta Office (52) (322) 226.2690 Toll Free 1.888.778.3639

At Prudential California Realty, Vallarta Division, we will work for your best interests.  We want to assure you that we will provide access to all of the properties and developments that are available for sale in the area.  Puerto Vallarta has an efficient MLS Systems, but some of the big developments are not included in this system.  However, we have full access to their inventories and can help you negotiate the best possible purchase terms.

We strive to work as a team with all of the more than 75 Puerto Vallarta real estate agencies affiliated to AMPI (Mexican Association of Real Estate Professionals) and we will do everything possible to make your property search a simple one.

Please take the time to read the following information in order to familiarize with the procedures involved in purchasing property in the Bay.

Your Prudential Vallarta sales professional, will guide you through the exciting process of scouting out areas and properties that will suit your needs, providing you with excellent relocation tips and the ins and outs of living in this fabulous area.  If you are a seller, please let one of our sales professionals  give you a listing presentation to promote and sell your property.

Please take some of the magazines, profiles and real estate publications provided at our reception and do not hesitate to contact your sales professional if you require any kind of information on any property for sale that you see advertised and that interests you.

Our job will be to provide you with the best possible service, always keeping the communication honest and your interests first.

Real Estate Information

OWNING PROPERTY IN MEXICO

Since 1974 foreigners (non-Mexican) have been able to purchase property with coastal and border boundaries through a “Fideicomiso Contract”, which translation is and has been “Bank Trust”, established with a Mexican bank. Foreigners may directly own rural or urban land in the interior of Mexico with certain limitations on specific agricultural tracts.

Bank Trust Ownership

The Bank Trust is established through a Mexican bank assuring foreign buyers of all rights and privileges of ownership.  As of 1994, the Foreign Investment Law allows these deeds to be established for a term of 50 years and to be renewable upon termination.  This process protects the rights of foreigners and makes sure that the transaction is legal and unencumbered.  For more than 30 years, many thousands of American and Canadian citizens have used the Bank Trust ownership system throughout the Bay of Banderas (Puerto Vallarta and Riviera Nayarit) and other Mexican resort destinations.

Title lnsurance

Buyers can easily get Title Insurance Coverage with several companies that work with properties in our area. If you wish to learn more, contact your Prudential Real Estate Professional.

Taxes

Property taxes have been low and remain low in our area.  Known as ‘Predial’ – yearly property tax – the mil rate is .0008% of the assessed value of the property, determined at the time of sale.  This tax is paid yearly in January or February to receive a 15% discount.  Property taxes have historically been low in Mexico because they have never been considered a major source of governmental revenue.  This tax law might change in the future.

The Closing Process

The closing process generally takes between 30-60 days (depending on the buyer and seller), with paperwork and escrow processes coordinated through our Closing Coordinator and close communication with the public notary (Notario Publico). Closing costs are paid by the buyer, with the seller paying; the cancellation trust fee, the applicable capital gains tax and the real estate commission (this last one is 100% deductible against the capital gains tax).  The seller must be always present at the closing.  In case the seller can´t be present, he/she will have to issue a POA to a person of their choice.   Buyers will only have to appear at the closing when accepting an existing Trust, otherwise, they don´t need to be present.  Your Prudential Real Estate Professional will keep you informed about this on a timely fashion so you can be prepared. Power of Attorney can be used in any transaction.  Our team will keep you informed at all times about what is needed for the closing.  Our job is to simplify the process and to ensure that each and every transaction takes place with the least amount of stress.

Maintaining Your Property

For condominium owners, common area maintenance and security is handled by each building’s Condominium Owners Association (HOA), with fees paid usually monthly or quarterly.  Homeowners and condominium owners, who will be away from their property for any length of time, may want to consider and hire an external property manager.  Prudential doesn’t offer this service but may be able to recommend some property managers.

Insurance

Various types of insurance — including personal belongings, flood, fire and earthquake — are all ready available in our area at a reasonable cost. All types of policies can be written to pay claims in U.S. dollars.   Your Prudential Real Estate Professional will have recommendations on several of the strongest and most reliable insurance companies in the area and can help you set an appointment.

Financing

Real estate purchases in our area are commonly cash transactions but more and more there is now financing for foreigners.  To learn more, please ask your Prudential Real Estate Professional.

Rental Potential

In Puerto Vallarta and the entire Bay of Banderas, there is a very strong rental market for both homes and condos.  Our Prudential Rental Manager can provide a full range of rental services for your property. Quality properties, which are competitively priced, can expect to rent at least as well as good hotels, which average occupancy of 50 to 60%.

Value vs. Price

The question most asked by a foreign purchaser is “Will my property increase in value?”  Short-term property speculation is not a concept that can be readily applied to the Mexican real estate market.  Traditionally, buyers have purchased properties in our Bay as a second home, retirement or future retirement purposes or as a pure investment and not to increase personal wealth through speculation. In most cases it is necessary to pay all cash, in some cases with seller financing and now through some loans available to foreigners.

“Am I getting a good deal?”  The answer is yes – if you compare what money will buy, in relative terms, to the housing market elsewhere (outside of our area). Remember that a buyer’s concept of ‘value’ and ‘price’ here in Mexico encompasses more than mathematics: it includes natural beauty, weather, safety, cost of living, and quality of life.

Making An Offer.

What to know about making an offer on a potential property.

You’ve found the property you want.  Let your Prudential Real Estate Professional advice you on the price to offer.  We are always ready to listen to your requests but you have to remember that we live and breathe real estate in the area, and we will give you our opinion on the matter.

Your Prudential Real Estate Professional will advise and guide you throughout the whole process.

Be prepared to counter. Don’t let the pressure get to you. Remain patient, and let your Prudential Real Estate Professional act as your liaison with the seller or the seller’s agent. You may need to be flexible on price, closing date, and other issues like appliances and repairs.

Contingencies

Contingencies are very common even in this market but frankly if they are not justifiable, they will weaken your offer. However, if you currently own a home, your offer may need to be contingent on it selling. Or, if you’re uncertain about the structural integrity of the home, you may want to have a home inspection contingency. Just be aware any contingency could take you out of the running if a non-contingent offer is presented.

Earnest Money Deposit / Escrow

Once your offer is accepted, be prepared to seal the deal with earnest money deposit. This deposit is usually a percentage of the home’s purchase price that indicates you’re serious about the purchase and indicates your good faith (in this area commonly the deposit is 10% of the purchase price). This deposit is always applied to the purchase price at closing and it is always sent to an Escrow account.  If making an offer, your Prudential Real Estate Professional will advise you and will take care of everything.

Purchase – Sale of Real Estate

Steps in the Process:  The procedure can be predictable and safe in Mexico – as it has been for many thousands of American and Canadian buyers in Puerto Vallarta since 1974.

Once you have chosen your property;

1.-  A written contract/offer is signed by the buyer and presented to the seller; if accepted, your Prudential Real Estate Professional will assist you in opening an Escrow account.  You will have approx. 48 to 72 hours to send the deposit to the Escrow account.

2.-  Once the seller accepts and signs, it means he/she has accepted the offer with all the conditions stipulated on it.

3.- The closing costs, (including the notary’s fees, the creation and preparation of the Fideicomiso Contract (Bank Trust), the Foreign Ministry permit, Foreign Investment Registry,  Public Property Registry, Bank Trust Acceptance,  Bank Trust fees for first year, appraisal and other miscellaneous expenses)  must be paid by the buyer.  Half of the total amount of the closing costs should be paid to the Notario (Real Estate Lawyer) in advance in order for his office to start with the preparation of the closing documents.  The remaining closing balance should be covered 24 hours before the day of closing or at the closing.  If you plan to be at the closing, bring your check book or send the funds to the Escrow and they will disburse them to the Notario at closing.

5.-  Both parties shall provide all legal documentation to the Notario.  This is taken care by your Prudential Real Estate Professional.

6.-  Once the Notario has completed all the paperwork we are now ready for the closing!

7.- Your Prudential Relax Estate Professional jointly with Prudential´s Closing Coordinator, will arrange for the appointment at the Notario´s office and will advise you accordingly.

8.-  It is advisable for the buyer to deposit the remaining balance in the Escrow account, at least 48 hours prior to the closing date.

9.-  Prudential´s Closing Coordinator will prepare the disbursement letter (instructions to the Escrow) and this letter will have to be signed by both parties.  Once the closing has taken place and was successful, the Notario will send via fax the letter to the escrow company in order for the funds to be released to the parties.

10.- On the day of closing, please arrive on time. The Bank trust legal representative may be there (not always), the Notario, the seller and your Real Estate Professional should all be there.  Seller can be represented if he issued a POA.  Buyer’s don´t need to be present if they are acquiring through a new Bank Trust (Fideicomiso Contract).  If they are acquiring the property through a cession of rights from an existing Bank Trust, they will have to be present or also have issued a Power of Attorney.

At the time of closing, The Notario will provide you with a simple copy of the deed / title  for your files.  You and the Notario go through the important portions of the deed / title including verifying that all of your names are spelled correctly.

Once an agreement is reached, the document (deed) is printed in the “folios”, numbered sheets and then sent to get registered.

11.- The new deed/title (Escritura) is then sent to the Public Property Registry to get recorded and stamped.  The Notario will deliver a simple copy to the parties at closing.  The original deed / title (Escritura) could take as long as 120 days to be registered.  As soon as it is received by the Notario, then the original will be delivered to the buyer.

CONGRATULATIONS, WE HAVE CLOSED AND THE PROPERTY IS YOURS !!!

This article is courtesy of Prudential Vallarta

OWNING PROPERTY WITHIN THE RESTRICTED ZONE

“FIDEICOMISO CONTRACT”

While many aspects of buying a home in Mexico look and feel like buying a home in the United States or Canada, you should remember that you are purchasing property in a foreign country. The manner in which you will acquire the property in any of Mexico’s restricted zones (borders and coast) will be definitely different from what you are used back home, it is not better or worse, it is just different.

You probably have heard about the bank trust system or the Mexican “fideicomiso”, and the “restricted zone”. This specifically refers to a distance of 62 miles from the borders and 31 miles along Mexico’s coast line.

For historical reasons, the Mexican Constitution of 1917 prohibits any and all foreigners from holding “fee simple” property title to property located within 62 miles of its borders or 31 miles of its coastline. Back in the early seventies the Foreign Investments Law, in order to avoid simulations and frauds, allowed Mexican corporations even with foreign capital to own direct title to property for commercial purposes but still restricted direct title (fee simple) ownership for residential purposes (ACTUALLY UNTIL 1994 WHERE THE REFROMS PUT INTO PLACE THAT ALLOWED MEXICAN COMPANIES WITH FOREIGN INVESTORS TO HOLD FEE SIMPLE TITLE TO LAND IN THE RESTRICTED ZONE. PRIOR TO THAT IT WAS PROHIBITED FOR ANY PURPOSE. From those days up to the present the Mexican bank trust system was designed and encoded into law to permit foreigners (physical persons and Mexican corporation with foreign investment) to acquire and enjoy legal and safe ownership and possession of property within the “restricted zone” for residential purposes in a manner consistent with constitutional provisions.

Usage of a Mexican bank trust (fideicomiso) allows non-Mexican nationals to acquire property in the “restricted zone” by placing the real estate property into a bank trust held by a Mexican bank which acts as the Trustee or Fiduciary. The Mexican bank’s, as trustee or “fiduciario” hold the title so that there is harmony with the constitutional provisions. The trust agreement that governs the manner in which your property is managed stipulates that while the Bank acts as title holder, you are the beneficiary of the rights held in trust and only you can enjoy and dispose of the property (enjoy, rent, remodel, sell, etc.)  The title is held by the bank and you have all the beneficiary right to the property.. The beneficiary of the trust is the purchaser of the property –you are the beneficiary. The Fiduciary Bank is paid an initial fee for the Trust Contract and subsequently you as “the beneficiary” have to pay an annual trust maintenance fee. The Fiduciary Bank or trustee is prohibited by the trust agreement and by Mexican law from transferring the property or the beneficiary rights to the property without your expressed written instructions.

We are happy to walk through the steps. We are a full service real estate office. We like to maintain our ability to give you personalized service.

This article is courtesy of Prudential Vallarta

www.prurealtypv.com  info@prurealtypv.com

Ya sea que usted vaya a comprar o  a vender una propiedad, hay una serie de razones positivas por las cuales la contratación de un profesional inmobiliario puede marcar la diferencia durante todo el proceso.

Pero antes de comenzar quisiera preguntarle: ¿Si va a construir una casa, lo hace usted mismo o contrata a un ingeniero y a un arquitecto?, ¿Si se siente enfermo va con su vecino a pedirle que lo diagnostique o prefiere ir al médico?

A continuación encontrará alguna de las múltiples razones por las que es altamente recomendable acudir con un Profesional Inmobiliario.

Experiencia y Conocimiento

La contratación de un profesional inmobiliario, deberá ser una persona con conocimiento total del área y de preferencia que tenga experiencia en lo que hace.  Cuando se combinan los servicios que ofrece una persona capaz y una empresa reconocida en el mercado, le harán la vida mucho más fácil a la hora de comprar o vender una propiedad.

Mercadotecnia

Si piensa vender una propiedad, una de las mejores razones para acudir con un asesor, es que este le ofrecerá un plan de comercialización y promoción adecuado y personalizado que cubra todas las áreas necesarias para promover su propiedad, incluyendo múltiples servicios que van desde señalamiento estratégicamente ubicado, publicidad impresa en medios especializados locales, así como el internet (páginas web), base de datos, referidos, contactos con clientes interesados en propiedades con las mismas características que la suya, etc.

Valor

Si bien es posible que pueda tener una idea de lo que está pasando en el mercado inmobiliario de nuestra área, la contratación de un especialista es la mejor manera de asegurarse de que su propiedad se compra o se vende sobre la base de los comparativos reales del mercado local. Si desea vender, le proporcionará un análisis comparativo del mercado con propiedades similares a la suya, recuerde que conocer su competencia es la mejor forma de tomar la mejor decisión. Para los compradores, se dará a la tarea de buscar para usted las propiedades en el rango de precio que busca y las cuales ofrezcan las mejores características.

Negociación

Cuando llegue el momento de reflexionar, contestar una oferta si es usted el vendedor o de preparar una oferta si es usted el comprador, un profesional inmobiliario es la mejor manera de garantizar que las negociaciones se realicen exitosamente. El profesional inmobiliario actúa como intermediador y este se asegurara que usted obtenga el mejor resultado de la forma más eficiente.

Papeleo

Existen muchos documentos para llevar a cabo una transacción inmobiliaria con éxito. No importa de qué lado este usted, necesita a un experto que tenga el conocimiento, las relaciones y contactos con las Notarias y otros proveedores de servicios para llevar a cabo la operación con éxito.  Su profesional inmobiliario lo estará asesorando en cada paso a tomar para obtener el resultado final que es la venta o compra de una propiedad.  Su labor no termina hasta que se cierra la transacción con éxito en las oficinas del Notario Público designado para la operación.

Cierre formal

Cuando llegue el momento de acudir al cierre ante Notario Público, el profesional inmobiliario se asegurará de que no solo obtenga el mejor trato, sino que comprenda todas las implicaciones financieras y jurídicas de la operación. El proceso de cierre que es la culminación de la transacción  debe ser un momento para celebrar. El profesional inmobiliario le explicará detalladamente el proceso para que el resultado sea el esperado y no haya tropiezos en el camino.

Base de datos y Redes

El profesional inmobiliario tiene una red de otros profesionales inmobiliarios que puede aprovechar para ayudarle, si es comprador, a encontrar la propiedad que busca y si es vendedor, para encontrar posibles compradores para su propiedad. Si bien usted puede ser capaz de aprovechar a sus amigos, compañeros de trabajo y la familia para que le ayuden en este proceso ya sea de compra o de venta, la comunidad de la industria inmobiliaria del área cuenta con una asociación nacional y local AMNPI (Asociación Mexicana de Profesionales Inmobiliarios) la cual tiene 3 capítulos en nuestra región (Puerto Vallarta, Riviera Nayarita y Compostela) trabajando para los intereses de las personas como usted.

Este articulo fue escrito por Araceli Rios / Agente de Ventas Prudential

araceli.rios@prurealtypv.com

All over the American and Canadian news is the “warning” not to go to Mexico. People shouldn’t be travelling south…right? Wrong. Mexico is much safer then everyone wants to believe.
The news tends to lump all of Mexico — a country the size of Western Europe — together.
Yet it’s in the 17 of 31 states NOT named in the warnings where you’ll find the most rewarding destinations: the Yucatan Peninsula and Baja California beach resorts, colonial hill towns like the ex-pat haven of San Miguel de Allende, Puerto Vallarta Jalisco, even the capital Mexico City.

An hour inland from Cancun’s beaches, Yucatan state — home to the most popular Mayan sites and “real Mexican” colonial cities such as Merida and Valladolid — is among the countries safest. The state, with roughly the same population as Kansas, saw two drug-related deaths in 2010. Wichita, Kansas, alone had six gang-related killings over the same period.

Map: Mexico travel guidelines
In most of central and southern Mexico, drug violence simply isn’t on the radar of daily life. “We’re just small communities here. We all know what everyone’s up to.”
That sentiment is found even in places once linked with political tension, such as Chiapas state and Oaxaca City, where political protest turned into a stand-off in 2006.

Mexico tourism official: Vacation spots are all far removed from violence
After the swine-flu crisis of 2009 — when some cruise ships diverted routes from Mexican ports that had no reported cases to American ones that did — travel bounced back a bit last year. Interestingly, the increase of returning Canadians and many Western Europeans doubled that of the American rate. We seem to remain particularly leery of Mexico.
That’s sad. My love of travel began with childhood visits to Mexican ruins and beaches, and I feel the U.S. is fortunate, not cursed, to be so close to a place that offers jungles, deserts, volcanoes, beaches, coral reefs, ancient pyramids, living pre-European cultures and some of the world’s most satisfying cuisines.
And of course the best reason to go: the people.
The Mexican people are without a doubt the happiest people you will ever meet on the planet. No matter what situation they always seem to have a smile on their faces.
All of the locals show a particular gusto in love of life. Once I saw fireworks go off in Mexico City, before sunset, and asked a local why. He was surprised I didn’t know. “It’s Friday,” he explained.
In restaurants, strangers seeing each other’s eyes instinctively say “buen provecho” before eating. It’s an earnest wish that their food should not only be tasty, but really pleasurable, and that the hope that their life will be a bit better as a result. There really is no English equivalent. Even our adopted “bon appétit” pales in significance.
Naturally, crime exists everywhere in Mexico. As does it in the United States, Canada, Europe. No matter where you want to travel in the world there will always be someone telling you not to go there. Because of a story they heard from a friend of a friend of a friend. Whether it be Surrey B.C. or New York. These mishaps happen everywhere on the planet. People that have been traveling to México for years and years haven’t stopped. Because once you are here. You know that everything isn’t how the news portrays it.
Most travel to Mexico, ultimately, is simply good travel. It’s fun, affordable, eye opening and fascinating (seriously, what other city of 21 million other than Mexico City is founded on a filled-in lake?).
Just know that the Mexico experienced on the ground almost never matches the Mexico we increasingly see and read about.

Courtesy of CNN.

Puerto Vallarta, Mexico – Here’s the most important thing to understand about budgeting your new life overseas: You can spend as much or as little as you want to live almost anywhere.

Some places are generally more affordable than others, and a handful of places are absolutely cheap. But globalization means you can enjoy more or less any standard of living more or less anywhere on earth, if you’re willing to pay for it.

The exceptions are some absolutely cheap locales such as Ecuador, India, Thailand (outside Bangkok), and the Philippines (outside Manila). In these places, your cost of living is artificially low because, frankly, there isn’t much for you to spend your money on.

This is not to say that, in these places, you couldn’t enjoy a comfortable, interesting, exotic, even fun, exciting, and adventure-filled life. But you’d be living simply, because you’d have no option. The only life in these places is the simple life. The point is that you can control your cost of living, within parameters, almost anywhere in the world.

Ok, but what does it cost to live in Puerto Vallarta, Mexico?

Here are two scenarios, one based on renting with no car and the other based on owning a two bedroom condo with a car, neither one on the beach but within walking distance. As you can see, it is entirely possible to live on a social security income of $1200/month simply and comfortably. If you have more to spend or invest, then the sky is the limit.

MODEST FULLY-FURNISHED RENTAL (all costs USD/month)

Rent: $600 (one bedroom)
Transportation: $50 (occasional bus and taxi fares)
Electricity: $40 (with AC less without)
Gas: $8 (used for cooking)
Telephone: $30
Internet: $25
Cable TV: $30
Part-time household help: $60
Groceries: $200
Medical insurance: $30 (IMSS)
TOTAL: $1,073

OWNED TWO-BEDROOM CONDO (all costs USD/month)

Homeowners association: $250 +/- (if applicable)
Transportation: $200 (car, gas, insurance, plates, parking, some bus and taxi)
Electricity: $60 (with AC less without)
Gas: $10 (used for cooking)
Telephone: $30
Internet: $25
Cable TV: $30
Part-time household help: $100
Groceries: $200
Medical insurance: $30 (IMSS)
TOTAL: $685-$935

*This article is courtesy of Learn Vallarta
Parts excerpted from Living and Investing Overseas.

Courtesy of PVRPV / Tim Longpré
There will come a day when we’ll look back on all these flash mobs that took place, and ask, “What was that all about?” But that day’s not here yet.

Just over a week ago, a flash mob broke out at Los Arcos Amphitheater on Puerto Vallarta’s famed Malecón to send a message that Puerto Vallarta is safe and to encourage new vacationers to visit the beautiful Mexican Riviera Port City and to welcome back past travelers. Despite the economic downturn up North, 22 million foreigners safely visited Mexico last year. The highly anticipated video has been uploaded to the popular Dailymotion site at http://dai.ly/k2IQHD and event organizers are encouraging everyone to share the video, leave comments and help the video go viral. Organizers, pending music content approval, anticipate posting on YouTube shortly.

The carefully orchestrated dance was choreographed by Kimberly LaRue, co-owner/director of the Bridge for Dance Studios in New York City. Organizers and sponsors of the successful event included Tim Longpré, Gary Green, Donna Davies, Kim LaRue, Antonia Lavender, Ray Dion, Josef Kandoll, Diva Divine, Nacho Daddy, Collage Club, Ballet Xiutla, Paradise Community Center, Sal Fuentes, Bill Brooks, Cindy Ramirez, Margaret Souder and the H. Ayuntamiento de Puerto Vallarta.

This video is courtesy of Ray Dion of PromovisionPV.com

The Prudential Vallarta Sales team was proud to receive San Javier Hospital´s Director Jesus Flores at their weekly sales meeting to update them on the hospital´s services and the announcement of the new hospital to open October, 2011 in Nuevo Vallarta at the Paradise Village Business center where a new facility is underway and will offer more medical specialists.

San Javier Marina is a hospital of high technology design and constructed to comply with the standards of quality for medicine and surgery offering an array of specialists to take care of your health needs.

Hospital San Javier Marina has a complete medical and technological team and equipment, constantly evolving and improving.

Jesus Flores went over what Canadian and American Health insurances are accepted at Hospital San Javier Marina as this question arises daily from those looking to purchase real estate.

Sales executive Nicole Martin said ” It´s not so bad to be sick in Puerto Vallarta and it is such a relief to be able to give my clients valid information on how they can apply their Blue Cross/Blue Shield and or Medicare policies at the San Javier Marina Hospital.  It truly helps to be able to show clients such a pristine medical institution and be greeted at the door by the director who is bilingual and fully understands the concerns of a person looking at a facility outside of his own country”

www.sanjavier.com.mx

Abogado – lawyer
Apoderado – agent through a power of attorney
Avalúo – property appraisal report
Beneficiario – trust beneficiary
Bienes Raíces – Real Estate
Cesión: an assignment of rights or obligations
Corredor – broker
Derechos – rights
Ejecución – foreclosure
Escritura – public deed
Estudio Topográfico – land or plot survey
Fideicomiso – trust agreement
Fideicomisario – another way to say trust beneficiary
Fideicomitente – the trust grantor, usually the seller of the property
Fiduciario- trustee, by law, a Mexican commercial bank
Garantía – guarantee
Gravamen – lien
Honorarios – fees paid for a service
Impuesto – tax
Inscripción – act of recording in a registry of public record
IVA – value added tax
Medidas y colindancias – measurements used to describe the size of a plot of land and its location, metes, and bounds
Notario Público – specially qualified and selected lawyers that are the only people in Mexico that are able to record matters of public record
Perito – a licensed or specially certified expert in a given field, a “perito traductor” is a certified translator
Póliza- policy, usually refers to an insurance policy or “póliza de seguros”
Predial – property tax
Prima – premium paid for insurance coverage
Registro Público – public registry for land records
Seguro contra daños – hazard insurance
Subasta –auction
Zona Restringida – Restricted zone – a strip of land 60 miles from the border front and 30 miles along Mexico´s coastline, also referred to as “zona prohibida”, the forbidden zone.