If you’ve ever lounged on a beach in Mexico or Central America, chances are the following thoughts have crossed your mind.
I should get a second home down here. It can’t be that expensive. I’d come down every winter, maybe retire here. I could put up a hammock between two palm trees. Maybe I’d write a book…
And just as your fantasy begins taking on a more definite shape, another voice, the voice of reason, interrupts.
Can I even own oceanfront property in Mexico as a foreigner? Could the Mexican Government take my property after I close?
What would happen when I’m away — could squatters take my property? How are capital gains computed? What are closing costs like? Is there even Title Insurance?
For most of us, the risk seems to outweigh the reward. There are just too many unknowns — and that goes for purchasing property in the seven countries in Central America as well.
Your questions answered, finally
Which is why Marc Shaw, President and Founder of World Wide Land Transfer, sat down with Mitch Creekmore, the head of Multinational Business Development at Stewart Title Guaranty Company.
Mitch is a certified international property specialist with over 35 years of commercial and residential experience.
He has written numerous articles on international real estate and is the author of Cashing in on a Second Home in Mexico and Cashing in on a Second Home in Central America.
Find out everything you’ve always wanted to know about purchasing a second home in Mexico or Central America, right down to the nitty gritty, in this fascinating episode of Shawlsy 24-7: