Some areas of Yucatán are outside the restricted zone, making it possible for you as a foreigner to buy property in Valladolid and hold the title directly in your name, without a Bank Trust or a Mexican Corporation. To do it, all you need is a permit issued by SRE.
Let’s walk you through the steps you need to take to buy property in Valladolid and become a homeowner!
Step 1 – Find the property you want to buy in Valladolid
The permit you need to get is for a specific property. So you need to find the home you want to buy and then start the process to get the permit.
Step 2 – Sign a promissory contract
As of today, getting the permit from SRE is taking at least 2 and up to 6 months. You don’t want to risk spending time and money in getting the permit, only to find out that the property is not available anymore. So, signing this contract is a must. Walk away from any sellers not willing to sign the contract.
Step 3 – Apply for the permit
Your real estate agent can help you, both providing the documents you will need to fill in the forms and navigating through the whole process with you. The price of this permit varies, depending on if you do it yourself or hire a lawyer to do it for you.
**Step 4 – Be patient **
Getting the permit from SRE takes at least 2 months, but it can take longer. There’s no way to know exactly how long it will take, but in the worst case we have seen so far, it took 6 months to complete the process. So, be patient.
Step 5 – Get the permit and close the deal!
When you get it, you will be able to close the sale!
Contact us if you want to start your search for the perfect property for you!
Casas en Valladolid
