Guides & insights / Buying Property in Mexico
Buying, step by step: offer to deed
October 26, 2026
Buying in Mexico is straightforward when it is done in the right order. Before viewing, decide how you will use the home: full-time, part of the year, or with rental flexibility. That choice shapes the location, the building and the layout that suit you. Have an idea of your budget in both U.S. dollars and Mexican pesos, since developers in the Riviera Maya price in MXN, and the exchange rate on the day you pay matters.
Updated 2026-10-26 · 4 min read · 668 words · Private draft awaiting owner review.
Before you choose
Buying in Mexico is straightforward when it is done in the right order. Before viewing, decide how you will use the home: full-time, part of the year, or with rental flexibility. That choice shapes the location, the building and the layout that suit you. Have an idea of your budget in both U.S. dollars and Mexican pesos, since developers in the Riviera Maya price in MXN, and the exchange rate on the day you pay matters.
If you are looking at new developments, ask for the developer's current price list and inventory, dated, and the payment plan. Promotions and availability change month by month.
1 · Reservation and the promise contract
When you choose a residence, a reservation deposit takes it off the market, usually for a short period while documents are prepared. The developer or seller then issues a promissory purchase agreement, the contrato de promesa de compraventa. It sets out the price, the payment schedule, the delivery date for new construction, penalties, and the conditions for closing.
A deposit, often 5 to 10 percent for resale, is paid on signing. For resale homes, it is good practice for this deposit to be held in escrow by a neutral party rather than paid directly to the seller. Have the contract reviewed by your own lawyer before signing; it should be in both Spanish and a language you read.
2 · Due diligence
Before closing, your notary and lawyer check that the seller has clean title, that the property is free of liens, that property tax (predial), water and electricity are paid up to date, and that the condominium fees (HOA) have no arrears. For new construction, they confirm the developer's land title, permits and the regime of condominium. Meanwhile the bank prepares the fideicomiso and the notary requests the foreign-affairs permit.
3 · Closing before a notary
In Mexico, every property sale must be formalised by a notario público, a senior lawyer appointed by the state who guarantees the legality of the deed. The notary verifies the documents, calculates and collects the taxes, and records the deed in the Public Registry of Property. Buyer and seller, or their representatives with power of attorney, sign the deed (escritura) before the notary. Escrow is released to the seller once the deed is signed. A typical resale closing takes between 30 and 90 days from the accepted offer.
Closing costs
Plan for buyer closing costs of roughly 5 to 9 percent of the purchase price, depending on the municipality and the property. The largest item is the acquisition tax (ISAI), a municipal tax that in Riviera Maya municipalities is commonly around 2 to 4.5 percent of the higher of the sale price or the assessed value. Notary fees, the appraisal (around 0.3 percent), registry fees, the fideicomiso set-up and permit, and legal fees make up the rest. The La Salle Cancún real estate financing course uses about 7 percent as a planning figure.
The notary will give you a precise calculation before closing; ask for it in writing.
Buying in pre-construction
Many of the residences we represent are new developments, some completed and some still being built. When buying off-plan, payments are usually made in stages: a reservation, a down payment, instalments during construction and a final payment at delivery. Look for a clear delivery date, penalties if it slips, and payments tied to construction milestones. Developers such as SIMCA also offer their own financing on completed and nearly completed buildings, which our calculator lets you explore.
After the keys
Once you own the property, you will pay an annual property tax (predial), which in Quintana Roo is low by North American standards, condominium fees, utilities, and the annual trustee fee. If you plan to rent the home at times, you must register with the tax authority and the state tourism registry; see our guide to renting. Keep every receipt from the purchase and from improvements, as they reduce the taxable gain when you sell one day.
Updated 27 October 2026. Figures are Estimated and should be confirmed with a notary, bank or tax advisor.
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Questions & answers
Buying, step by step: offer to deed
Buying in Mexico is straightforward when it is done in the right order. Before viewing, decide how you will use the home: full-time, part of the year, or with rental flexibility. That choice shapes the location, the building and the layout that suit you. Have an idea of your budget in both U.S. dollars and Mexican pesos, since developers in the Riviera Maya price in MXN, and the exchange rate on the day you pay matters.