Real estate agents in Mexico for renters and buyers

Most people who settle well in Mexico rent before they buy. A local agent helps with both, but real estate agents in Mexico are regulated much more lightly than in the US, so choosing a careful one matters.

Renting

• Leases are usually for a year. Long-term furnished rentals exist in the towns popular with foreigners.
• Landlords often ask for a deposit and first month’s rent, and sometimes a local guarantor (aval) or a larger deposit in place of one.
• Have the lease explained in English before you sign, even if the signed version must be in Spanish.

Buying

• Foreigners can own property in Mexico. Within about 50 km of the coast or 100 km of a border, a foreigner holds the property through a bank trust (fideicomiso) instead of direct title.
• Every sale is completed by a notario, a senior lawyer appointed by the state, who checks title and records the sale.
• There is no single listing system in most areas, and prices are often negotiable.
• Some land is communal (ejido) and can’t be sold to you with normal title. This is the most common way foreign buyers lose money.

What a good agent does

• Shows you several neighbourhoods, including the drawbacks of each.
• Tells you what similar homes actually rented or sold for.
• Recommends, but doesn’t choose for you, a notario and an independent attorney to check title.

What to ask before hiring

• Do you belong to AMPI or another professional association?
• Who pays your commission, and how much is it?
• Can I speak with foreign clients you worked with in the last year?
• For a purchase: has the title been checked, and is the land ejido?