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This December a TOPMexicoRealEstate helped a Canadian client successfully receive a Mexico Mortgage for his Playa del Carmen Real Estate purchase. While in Canada and the U.S acquiring property by means of a mortgage is fairly common, in Mexico the option is relatively new, and is not common yet. While the process is more complicated than in other countries, the client’s Mexico Agent guided him through the process, greatly reducing the time commitment required on the part of the client. This successfully completed process, along with other similar recent cases, represents a real, feasible financing option for buying Mexico real estate.

The Canadian client in question bought a beachfront condo in Playa del Carmen, which his TOPMexicoRealEstate agent managed to find at more than 30% below market value. After the bank gave approval for the property and the borrower, the client was signing the final documents within 10 days, and the deal was closed in the first week of December.

Financing for real estate investments and purchases was basically non-existent for many years in Mexico, and interest rates were historically above 15 points. Almost all real estate transactions were cash deals. Many Americans and Canadians would leverage their Mexico investment using properties from their home countries.

The benefits of receiving a mortgage from a bank in Mexico include:

• using the same Mexican property as collateral; this frees up assets in a buyer’s countries
• interest rates which have dropped by more than 50% from 3 years ago; in October / November of this year, rates dropped 1%
• automatic payments can be arranged with the lender, which are convenient for Mexico property owners

There are some potential difficulties of which buyers seeking a Mexico Mortgage should be aware. One of these is the process time.

“Non-Mexicans should prepare for a longer process to obtain approval for financing than in their home countries,” points out Thomas Lloyd, founder of TOPMexicoRealEstate. “The process might

take nearly 6 – 8 weeks.”

There are also strict requirements regarding the property itself, and many properties or sellers might not qualify. In the operation with the Canadian client, the property did not have insurance coverage which is one of the requirements. His agent set up discounted insurance coverage that not only fulfilled the requirements of the bank but also protected the property from unexpected damaging occurrences.

Ensuring that the property qualifies and has all the documents necessary to fulfill the requirements of the lender is one of the main processes that needs to be administered. A qualified, experienced broker can save a client time and frustrations; clients should find a broker who will know how to identify properties that have a better probability of qualification.

“The key to successful Mexico real estate acquisitions and investments is putting working with EXPERIENCED brokers and an experienced team,” advises Lloyd.

TOPMexicoRealEstate, a network of  certified professionals that specialize in guiding new buyers through the Mexican purchasing process is currently presenting the Aldea Zama development as one of the top retirement options currently available in Tulum Real Estate.  Aldea Zama offers many benefits for buyers interested in a land purchase where they can build there dream home for retirement, and has already begun delivering lots to excited buyers.

Aldea Zama offers not only a oceanfront community near one of the world’s most beautiful beaches, but the community has been designed in a way to offer the highest level of convenience and lifestyle, ideal for retirees, in addition to other property buyers.  Aldea Zama has been described as a “mixed-use village” with the “pulse of a new generation.”  The community is located next to Tulum’s Mayan pyramid site, and the well known MayaZama resort development, combining the area’s rich history with luxury beachfront living.

With the old town of Tulum just to the north, Aldea Zama is designed with the “village” concept – a residential development with a town center area.  The design of the town center, as well as the area as the whole, will appeal to those who enjoy a high-quality, casual lifestyle, defined by “elegant but hip” style.  The town center will include top-name stores, boutiques and restaurants, and is will offer top international trends.  The visual style in Aldea Zama will be contemporary, using rustic materials such as stone, wood and thatched roofs, with landscaping that likewise combines natural with modern.

While the Aldea Zama community offers many benefits in itself, the new MayaZama development directly to the south will add even more to the community’s lifestyle.  MayaZama will include a Jack Nicklaus golf course and academy, spas, restaurants, small shops with unique items for sale, art galleries, cafes, and many other cultural activities.  The design of MayaZama’s commercial area is a pedestrian walkway, lined with trees and gardens, ending at Tulum’s beautiful, white beaches, overlooking the turquoise blue sea.  This pleasant area provides a beautiful place to enjoy the weekends and evenings out, and a very picturesque walk to the beach.  The proximity of MayaZama and the beachfront, makes all of this within a very short walking distance.  For residents who prefer not to walk, there will also be the option of using golf carts, or, for a more romantic way of spending a relaxing retirement, there are water taxis which use Mayan waterways winding through the village.

Aldea Zama offers real estate options for single family homes, ideal for those who already have ideas in mind for their dream retirement living space.  There are also sites available for condominium   development, as well as commercial opportunities in the village center.

MayaZama is the developer of Aldea Zama, and although the development is in its early stages, properties have already been delivered to customers who completed their purchasing process through TOPMexicoRealEstate, and are now ready to prepare for their retirement.

TOPMexicoRealEstate NETWORK; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely

As a small town with clear plans for infrastructure development, Tulum Real Estate currently offers some excellent opportunities for land investment.   Aldea Zama, located downtown Tulum, is a prime example of these opportunities.  Recently TOPMexicoRealEstate.com interviewed the first couple, Mark and Linda, to receive their Aldea Zama lot.  The couple showed a high level of satisfaction with the process of purchasing with Aldea Zama, talking about the draw of Tulum’s natural setting, and their future plans – both for building and lifestyle.

The couple began the interview by telling TOPMexicoRealEstate about their satisfaction with the processes involved in the real estate transaction.  The couple described the process of Aldea Zama as “efficient, simple and easy.”  The process of preparing the paperwork and documentation while they were in the U.S., their home country, was also described as simple, with everything ready when they arrived, so all they had to do was sign.

“They were always on time and as soon as we arrived we went down to sign the papers,” explained Linda.  “We had a very good experience and no problems of any kind.”

The interview followed with a discussion about their reasons for choosing to buy Tulum Real Estate.  Mark and Linda named several factors which drew them to purchase in Tulum, including the fact this it is not over developed – there is still a very natural environment, and Tulum still only has a population of 30,000, and Linda described the town as “more laid-back” and “less stressful,” comparing it to Washington D.C., and the stressful lifestyle that many Americans experience day to day.  At the same time, a direct 3 hour flight home from the nearby Cancun International Airport, will offer the couple convenient travel to and from their new Tulum home.

The couple also mentioned the beautiful, turquoise blue beaches, and the type of development which has been planned for the area, referring to the town center, the roads and the sidewalks for easy access to the town center and the beach.

“We liked the description of the development,” said Mark.  “We thought it would have the kinds of things we’d be interested in.”

All of these factors together also pointed to a good investment opportunity; Tulum land currently offers a great potential for investment, which served as another factor in their decision.

Although Mark and Linda pointed out that they are not entirely sure when they would begin building – it would be when they reached a point in their careers that they could take a few months off every winter – the couple already has a vision for their future home.  Their idea is to build a home with a “modern but rustic look” using materials such as stone and wood.

“We like the very clean, natural contemporary style that they do down here in Mexico,” explained Mark. “Modern, but rustic materials, used in a new way.”

Linda added that they would want a pool and a garden, with a natural atmosphere.

In keeping with the contrast Linda had made to Washington D.C., when the couple begins their life in Tulum, they plan to live a relaxed, “more retired” lifestyle.  Linda, for example, is a yoga instructor, and hopes to continue with yoga sessions in her new Tulum home.

“I could see something like that continuing over the winters when we’re down here,” said Linda, “having friends visit, or doing Yoga retreats, that type of thing.”

TOPMexicoRealEstate NETWORK; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely