Is it possible for foreigners to own property in Mexico?

In interior areas such as San Miguel ownership is a relatively simple process similar to real estate transactions in the U.S. Buyers of real estate own property, fee simple, out right, and by law have the same rights as Mexican citizens. Only in border zones and costal regions is purchased real estate actually held in a trust by a Mexican bank.

Are mortgages available?                                                                     

U.S. lenders such as Banks and International Financial Companies  have already entered the San Miguel market and in all the Mexican Republic.  For more information contact Raúl González  at  rgonzalez@mortgages-inmexico.com                       for Mortgage Programs  Availables please  visit www.mortgages-in-mexico.com

 Capital Gains

Capital Gains taxes can be applicable to both Mexican and foreign sellers of real estate. However, in certain scenarios sellers of real estate can possibly be exempt from taxes on capital gains. If the property is a primary residence or the seller of a property is a foreigner who holds FM-2 documentation, then a seller's exposure to capital gains can possibly be limited.
Several recommended lawyers in San Miguel de Allende can explain the process in greater detail.

Closing Costs 

Depending on the sale price of a property-closing costs for a buyer could be as much as 2% of a sale price. These closing costs, in general, cover: a permit to acquire property in Mexico, a property evaluation, a tax on the transfer of title, the filing of the deed, and lawyer's fees.

Are taxes expensive in Mexico?

Property taxes in Mexico are nominal, a drastic difference for owners of property in States such as Texas or California. On a $300,000 us property an owner can expect to pay between $400-700 usd per year.

Is it easy to hire a housekeeper?                        

Yes, it is easy and inexpensive to hire either a housekeeper, cook or gardener.

Is the language a problem?                                                                                 

No, Mexican people are very friendly and most speak English.

Where is the Airport?                                             

The nearest International Airport is located at Leon (BJX). Continental, American Airlines and Mexican have non-stop flights from US cities. The airport is located one and a half hour drive from San Miguel, but just recently the International airport of Queretaro starts a daily flight by Continental, the airport is located an hour from San Miguel.