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How the gain on the sale of real estate is calculated is based on the “declared value” stated in the `Escritura` or deeded title. Historically, the declared value has been significantly lower than the fair market value. While a common practice, the habit of declaring a value that is less than the fair market has come basically to an end, people who declared lower values in their deeds may need to pay more in capital gains than they would have otherwise if they had used the real transaction value.
Mexican authorities are losing significant amounts of tax revenue and have now begun to scrutinize these transactions more closely, Notarios are much more careful about the declared value they are willing to accept in the deeds that they prepare. Notarios are public officials who have given up private practice to become agents of record. They are appointed by State governors to legally consummate any property conveyance, including wills, business contracts, and real estate transactions. Notarios authenticate documents for legitimacy and form, and act as official recorders. The Notario is equally responsible to both parties in a transaction. For personal representation, you must hire a private attorney. In a typical real estate transaction, the Notario will prepare a deed of conveyance based on the purchase agreement. Under Mexican law, Notarios are jointly liable with the seller for all taxes due on the sale of real property, therefore they are known to take a conservative approach.
The homestead tax exemption is still available to resident taxpayers in Mexico, and it is the Notario who decides who meets the requirements of tax residence.
I recommend that each potential seller or buyer of Mexican real estate ask his/ her broker and Notario for an estimate on closing for his own review and due diligence before entering any purchase or sales agrement.
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In today’s market and with many agents quitting their office jobs, most have turned into property managers. Most of this new managers without an office, work out of their homes, have no previous experience (Almost all say they do in their web sites) this practice can become a problem for you if your property rental manager disappears with funds collected from renters leaving you the owner clueless as to what kind of rental agreement the Agent entered on your name: There maybe a few reasons why you want to think twice before you give your house keys to someone who just has a web site a cell phone and no office to be found by you or your renter. Before hiring someone ask for recommendations: Call the firm they used to work for. Many worked only part time and were not serious about a Real Estate career and left after a few months and now are part of the endless list of Property Managers offering freelance services. Once you find a rental manager and feel comfortable working with he/she, know before hand how your property will be marketed as: Vacation rental? Long term? Vacation Rental: Your property manager should get a rental agreement signed by guest stating the number of people staying in your property. Arrival and departure date. Your manager should collect full rent plus security damage deposit before guest arrival. Rental Managers duty also includes; checking the property after guest departure, make sure the property condition and contents are same in condition and number, as before guest arrived; Manager has to make sure the property is cleaned immediately after departure. Obviously you have the potential guest of your property also wondering why they are sending money to Mexico so ask your manager how and where your money will be sent to and when will you be paid. Long term rental: A Contrato Transactional `Settlement agreement` Should be in place, first and last month rent paid in advance. Detailed inventory of the property should be part of the agreement. There is more to property management but.. its up to your manager to figure that out and provide you and your renter with quality service. Whether the housing market is stabilizing or not, it’s suggested that you trust your keys and property on the hands of a capable reliable Property Manager or Company who are legally established, have owners/clients recommendations and mostly, find the one who will represent you and your property with integrity.
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Punta Roca Condominiums Puerto Aventuras - We invite everyone to visit our open house at 201-Bahia Kantenah on March 12 from 4:00 AM to 9:00 AM. Property information
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Great Location
• 1,829 sq. ft., 2 bath, 2 bdrm single story "Modern"
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MLS®
$356,853 USD
- New Construction Investme
Phase Two, Playacar
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The newly built condos are located very close to the beach in the little Italy area in Playa del Carmen. Unique and imaginative, modern and luxurious a private oasis in the heart of Playa. Ample living and dining area, good size terrace overlooking the pool and common areas, building has elevator and parking. Penthouses have a private solarium.
Property information
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Great Location
• 135 sq. m., 2 bath, 2 bdrm single story "Modern"
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MLS®
$210,000 USD
- Preconstruction pricing
34th & 20th, Playa del Carmen
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Located in Playa del Carmen, Sabbia is a development that consists of 90 units in 4 towers. Phase I (towers B and C) is currently in presale giving you a 10,000 USD discount off the first price once the project is on the market.
Some of the amenities include: Pool Jacuzzi, Game room,Gym, 2 recreation areas with grill and bathromms, security,underground parking, elevator, and privet storage for each condo
Property information
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• 2 bath, 2 bdrm single story "Modern"
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MLS®
$320,000 USD
- Newly Built
Playa del Carmen, Phase Two
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The complex has a total of 87 units divided into 29 buildings. The site has a triangular shape
with view of the golf course to the east.
The entrance to the complex is through plazas which open onto an interior street which divides the three clusters and allows access to the interior units.
Parking spaces are organized along this street and along the exterior street for the units situated on the exterior of the site.
The buildings will be built around three common areas each with a pool. All common areas will have a unique design making it an exceptional relaxing place for the Sian Kaan residents.
The Villas are designed with a lock off master suite, that can be used as a guest bedroom or rental as unit if desired. Only one residence per level.
Unit Features
• Floors: 16x16 In. Marble (crema Maya) in interiors and terraces, 1x1 In.
Venetian tiling in bathroom wet zone
• Walls: Roughed texture of painted cement and sand, interiors and exteriors
• Ceilings: Smooth texture of painted cement and sand
• Windows: White aluminum, 6 mm. glass
• Kitchen equipped with: White finished wooden MDF cabinets, Corian counters, electric stove,
Stainless steel sinks and dishwasher
• Bathrooms: Marble counter top, single-handle faucets, tempered glass shower wall
• Carpentry: Tzalam-finished bedroom closets, Front and interior doors of Tzalam wood
• Air conditioning: mini-split air conditioning units with digital thermostat.
Property information
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Great Value
• single story "Modern"
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MLS®
$320,000 USD
- New Construction
Phase Two, Playacar
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The complex has a total of 87 units divided into 29 buildings. The site has a triangular shape
with view of the golf course to the east.
The entrance to the complex is through plazas which open onto an interior street which divides the three clusters and allows access to the interior units.
Parking spaces are organized along this street and along the exterior street for the units situated on the exterior of the site.
The buildings will be built around three common areas each with a pool. All common areas will have a unique design making it an exceptional relaxing place for the Sian Kaan residents.
The Villas are designed with a lock off master suite, that can be used as a guest bedroom or rental as unit if desired. Only one residence per level.
Property information
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Your very own custom designed home
• 600 sq. ft., 6 bath, 4 bdrm 2 story "Modern"
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$2,300,000 USD
- Truly a work of art
Phase Two, Playacar
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Truly a work of art, your very own custom designed home.
Nestled in a beautiful fragrant garden with bougainvillea bushes and coconut threes, Casa Los Charcos will provide you with a world of ease and luxury with all the modern comforts you can possibly imagine. After you enter to your left, you find a comfortable studio office with a full in suite bath.
The living room has a handcrafted brick boveda ceiling.
Floor-length sliding glass pocket doors open to the pool with Infinity-edge and Venetian tile.
Casa Los Charcos offers a secluded master suite with fantastic ocean views, private terrace with Jacuzzi and seating area. At night from your bed you can see the Cozumel island lights, the in suite large bath has a bathtub, his and hers shower and a large closet this home has Four guest suites, each with its own in suite private bath,
The rooftop has a barbeque and seating area, at night watch the sunset or the lights twinkling in the distance
Your home is located in Playacar phase 1, one of the most sought after areas in Playacar.
Thoughtful designed features make this house the ideal beach retreat for the discerning buyer.
Property information
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Brand New !!
• 2,225 sq. ft., 4 bath, 3 bdrm bi-level "Modern"
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MLS®
$270,000 USD
- Must see !!
Carretera Federal, Playa del Carmen
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Located in an exclusive enclave, these brand new 3 bedrm 4.5 baths, have ample living spaces, laundry room, 2 terraces, your own private garden, lots of natural light and quality finishings, including granite kitchen countertops.
The common areas have a swimming pool, club house and equiped gym.
Your new home controled access gives you maximum privacy.
Easy access from main highway, stores, restaurants and beach close by.
Location, construction, and pricing make this home a good housing investment.
Contact us now !!!
Property information
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Comfort and Location
• 2,584 sq. ft., 3 bath, 3 bdrm 1 1/2 story "Modern"
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MLS®
$675,000 USD
- Price Right
Phase Two, Playacar
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The Royal Palms Condominiums are located on 5th avenue at 26th street, in Playa del Carmen's fashionable North end. Your condo home is near some of the area's best restaurants and classiest boutiques, and is a short 3-5 minute walk to what is widely considered to be one of the loveliest stretches of beach in the area.
Top of the line appliances included in condo price. Spacious, airy, and filled with natural light, your luxury home offers you a simple comfortable lifestyle, that happens also to provide a great rental income when you are not in residence.
Property information
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PRIVILEGED BEACHFRONT LIVING.
• 1,703 sq. ft., 2 bath, 2 bdrm apartment "Modern"
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MLS®
$540,000 USD
- Priced to Sell
Puerto Aventuras, Quintana Roo
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PRIVILEGED BEACHFRONT LIVING.
Condo 201 is located in Villas del Mar inside the prestigious residential development of Puerto Aventuras, from your living room and your master bedroom you overlook the pool, gardens and the beach. Open your sliding glass doors and you have a nice size terrace.
Exclusive living option for those who wish to live this home, or maximize your investment by renting when you are not in residence.
Kitchen equipped with washer and dryer, Four burner cooktop, Refrigerator, Microwave
Best of all……a great rental history!
Property information
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