Ocean
Front Land in Puerto Angel, Oaxaca, Mexico
Playa Estacahuite near Puerto Angel which is near Pochutla
Mexico.
Ocean front 4,938 sq. meters on the pacific Emerald Coast
of Oaxaca Mexico
40 meters of ocean front at
high water mark
40 minutes from the Huatulco International Airport.
Oaxaca Mexico. Has road. water. electric. near small
beaches with thatched hut cafe serving fresh fish. snorkeling
boats , fishing boats all near by. Small town, Puerto
Angel, within 5 minute walk. this land can also be divided
into 2 or 3 lots and sold as individual lots.
click on map
to view location.
Tel
+00 502 5216 6468
USD
$110,000.00
click
to enlarge..
A
piece of land that is located in the place known as
"CERRO PEREZ ESTACAHUITE", within the jurisdiction
of the town of Puerto Angel, Judicial District of Pochutia,
State of Oaxaca, and has a surface area of approximately
4,938.50 square meters with the following metes and
bounds:
TO THE NORTH, measuring 60.70 meters and bordering on
land owned by Mr. Agustin Cruz Barragan; TO THE SOUTH,
measuring 40.OC meters and bordering on land owned by
the Federal Government on the Pacific Ocean; TO THE
EAST, measuring 110.00 meters and bordering on land
owned by Mr. Joaquin Farias; and TO THE WEST, measuring
80.00 meters and bordering on land owned by Mr. José
Luis Castillo, as is evidenced by the Protocolized Private
Sale Contract in Official Document number 8,608, dated
May 16, 1996, set -forth and certified in Volume 108
of the protocol book assigned to Licenciado Jorge Antonio
Lopez Mier, Notary Public number 37 in and for the State
of Oaxaca, with official residence in the port city
of Salina Cruz, Oaxaca, the first testimonio of which
was duly recorded with the Public Registry of Property
on and for the Judicial District of San Pedro Pochutla,
State of Oaxaca, in the books of Section One, TRANSFER
OF OWNERSHIP DEEDS, under number 89, in a precautionary
manner, on May 31, 1996.
View
from Land.
Lot
is to left of wall running up the hill.
II.
That the real property in question is free of all liens
and restrictions on ownership and is current in the
payment of all tax liabilities, as is evidenced by the
certificate of absence of liens that is in the process
of being issued by the trial level Justice Court judge
in and for the Judicial District of San Pedro Pochutla.
State of Oaxaca, the official in charge of the Public
Registry of Property, and will be added to the appropriate
appendix.
Puerto
Angel.
In
Guatemala
Tel 502 5 216 6468 sales@waldthausen.info
The
first question people usually ask about buying real estate
in Mexico is whether they can actually do it. The answer
is yes... many expatriates have purchased property here.
The second question is should they do it? While it is
true that in years past the Mexican government did not
allowed foreigners to buy property, this is no longer
the case.
Although
there are restrictions, foreigners can buy property,
and they will receive either a simple-fee title or a
trust deed allowing them to sell the property or will
it to their heirs if they so choose.
In years
past, buying real estate was always a cash transaction,
but now home mortgages are available to qualified buyers;
some of these mortgages are offered by Mexican companies,
but some are offered by
American companies. Interest rates are generally higher
than for loans on U.S. property, and there are other
fees attached, but mortgages do allow people without
a large lump of cash to buy property.
Anyone considering
buying property in Mexico should keep in mind that he
will need a reputable notary (lawyer), that real estate
agents are not licensed or regulated and that there
are no official building codes. It is also vital to
have a thorough title search done to ensure that the
person selling the property is the person who actually
owns it. There have been numerous scams where gringos
have thought they had purchased property only to find
it was never really for sale in the first place. Foreigners
who are not yet ready to retire or who are unsure about
living in Mexico often buy property and then rent it.
If you plan to buy real estate and relocate here, we
recommend staying for at least 6 months in the town
where you plan to buy to ensure that you are really
ready to live in Mexico
Playa Estacahuite
is the closest beach to Puerto Angel going toward Huatulco.
You can reach it on foot or by car if you turn from
the main road toward the sea near the entrance to Puerto
Angel (coming from Pochutla, there is a sign that says
“Playa Estacahuite – 800 meters). The bay
is divided into two tiny beaches, both surrounded by
rocks. Because of it’s stony seabed Playa Estacahuite
is better for snorkeling than for bathing. Many fish
and some restaurants are the reason why many snorkeling
and fishing tours stop here.
1917 The Constitution of 1917 proclaimed
that all land in Mexico would either be ejido (communal)
or owned by Mexican nationals only. Ejido land was given
to every village in Mexico and could not be sold.
1973
A constitutional amendment known as the Foreign
Investment Law allowed foreigners to purchase real estate
anywhere in Mexico, except the restricted zone. The
restricted zone consists of areas within 100 km (64
miles) of international borders or within 50 km (32
miles) from the coastline (at high tide).
1993
Mexico amends the constitution to allow foreigners
to purchase real estate within the restricted zone by
means of a fideicomiso (bank trust).
1994
The NAFTA trade agreement between the United
States, Canada, and Mexico is passed. A constitutional
amendment allows corporations to be 100% foreign-owned.
(A corporation may own property in a restricted zone
without a fideicomiso.)
The
fideicomiso is a bank trust wherein the bank (trustee)
holds the trust deed for the purchaser (beneficiary).
While the trustee is the legal owner of the real estate,
the beneficiary retains all ownership rights and responsibilities
and may sell, lease, mortgage, and pass the property
on to heirs. The fideicomiso is authorized by the Mexican
Government under the Ministry of Foreign Affairs
The
bank is required to check ownership and insurance, and
to verify that the property is free of liens. A trust
is granted for a 50-year period. The trust is renewable
at any time (for another 50-year period) by submitting
an application to the bank. If the 50-year period expires
without renewal, the owner has another 10 years in which
he may submit an application to renew the trust. If
property is purchased that already has a fideicomiso,
the existing trust may be transferred to the new owner
and will be good for the remainder of its 50-year period,
or the trust may be renewed. If property is already
in a fideicomiso, probate and transfer tax are avoided
when the property is transferred.
There
is a fee of about US$350 (varies from bank to bank)
to obtain the fideicomiso and an annual fee as well.
To obtain the fideicomiso, you will need your accepted
purchase offer, a photo ID and 10% of the purchase price.
Monetary transactions are handled through the bank.
The
predial (property tax) is 0.1% of the assessed value,
paid annually. The value of the real estate is determined
at the time of sale. There is a 2% sales tax.
Closing
Process
The closing process takes between 30 to 45 days. The
buyer pays closing costs, which are usually about 6%
of the purchase price. 2% is for sales tax and about
4% is for other fees such as title search, attorneys
fees,
and filing of legal documents.
They
buyer will need to provide his address and telephone number
in the country of origin, occupation, marital status,
and nationality. If married, the same information is required
of the spouse. The buyer's passport and tourist visa are
required as well as the name, nationality, address and
telephone number of any secondary beneficiary to the trust.
The
closing of a real estate transaction requires the services
of a Notario Publico (Notary). The Mexican Notario Publico
is an official who possesses greater rank and responsibility
than the Notary Public in the United States. The Notario
Publico is an attorney representing the Mexican government.
He is responsible to both the buyer and the seller to
insure
the legality of the contract, and to the government
for the collection of taxes and capital gains for the
real estate transaction. The Notario Publico finalizes
the real estate contract and records the transaction
with
the Public Registry. A real estate agent may be involved
in the transaction, but it should be noted that realtors
in Mexico are not licensed or regulated as they are
in the United States.
The
Notario Publico charges a fee for his services and the
bank charges a fee as well. These fees should be competitive
and are based partly on the value of the property. Typically,
a realtor will work with one Notario Publico who will
work with one bank, but there is no reason why the buyer
can't shop around, compare fees, and select her own
bank and Notario.
The Lawyer Technically, it is not necessary to have
the services of a lawyer in addition to the Notario
Publico. However, for additional assurance that your
interests are being protected, it may be advisable to
hire your own lawyer.
A
Mexican corporation may be 100% foreign-owned and may
purchase property in a restricted zone without a fideicomiso.
Property owned by a corporation is commercial property
and will have much higher water, electric, telephone,
and tax rates. A Mexican corporation may not own a single-family
residence.
In
a corporate transaction there is usually a preliminary
sales agreement or an "agreement to agree".
The preliminary sales agreement includes the price,
terms, and closing date. A formal sales agreement is
executed at the time of closing. Escrow, the process
of having a third party hold the deed in trust during
the transaction, is not used in Mexico. The buyer should
be cautious about making any initial deposits.
