Reviewed June 2008
Real Estate General Information
Here is a site that I think is one of the best I have found for explaining the details of buying property here in Mexico.
An excellent comparison of the difference between a Mexican and US Notary can be found here
If your purchase in the "restricted zone", you will need a Mexican Trust. Detailed information can be found here
Some other potentially helpful sites
Mexican Real Estate Information
Retiring in México
How to Move to México
David Shafer June, 2008
Real Estate Brokers
Here is a list of Mazatlan brokers (in alphabetical order) with web sites listing their properties:
http://www.ampibolsa.com.mx/
http://www.buyandsellmaz.com
http://www.buyinmazatlan.com
http://www.garciamendoza.com.mx
http://www.investmazatlan.com
http://www.mazinfo.com/mazhomes
http://www.mazatlanpropertygroup.com
http://www.miramaz.com
http://mazatlanrealty.com
http://www.mazatlanrealestategroup.com
http://mazatlanviejo.com
http://networksmazatlan.com
http://www.pacificpearl.com/bernalre
http://www.paraisodorado.com.mx/
http://www.realtymex.com.mx
You can find an estimate of Closing Costs here.
David Shafer May, 2006
BUYING A HOUSE IN MAZATLAN - A Personal Experience
Patricia O'Connor - March 6, 2005
We recently returned from a house hunting trip in Mazatlan. The three agents we worked with showed us a variety of homes in Olas Altas Centro and Los Pinos. I have never seen such a hard working group of folks. The inspector was thorough and forthcoming. All spoke English.
Our first day, we worked with Willie Bodrak of Mazatlan Property Group (formerly with Mazatlan Real Estate Group). She picked us up at the hotel and presented us with a folder of information about the homes we were going to see and a list of architects who speak English. We saw two houses that were serious contenders, but one was not in the area we prefer and the other did not have a garage (I really liked this one).
The second day, we met with Jim Seaholm and Gustavo Tirado of Mazatlan Realty. Again, there were two properties we talked about at length at the end of the day. One had everything we wanted, but was slightly outside the location we prefer (John would have bought this one); the other was well-priced and well-located, but oddly built.
The third day, Silvia Casas Gutierrez of Mazatlan Viejo picked us up and drove us to the best buy we saw our entire trip. It was a beautiful home at a very good price, but again, not in the area we wanted. The last house we saw with Silvia that day was perfect - location, size, garage, rental property (one of our preferences), big courtyard. We made an offer; it was immediately verbally accepted. The next day, the owner (an American in Washington state) increased the price and changed the terms, so we began looking again.
Willie made arrangements for us to relook at the property we saw the first day that did not have a garage. After viewing all the other homes, we talked and decided this one was closest to our ideal.
Cesar Ochoa Lopez of Realtymex Home Construction inspected the three-story property top to bottom. He found some questionable venting, salitre damage (which he told us how to repair), an asbestos roof cover on a poorly built roof structure - both need to be removed and replaced, and a few smaller issues. He verified that the house structure itself was fine.
Willie quickly made arrangements to get us to the notario and bank on the last morning we were in Mazatlan. We completed all the paperwork and made our plane in good time.
I would not hesitate to work with any of the agents again. All were professional and well-prepared when we set out. Each showed us properties that could have satisfied our requirements.
Before the inspection, we told Cesar what we needed. He went beyond what we asked and provided information we hadn't even thought to ask for. For instance, John commented on three-pronged outlets in the house, but Cesar checked and found no ground at the box.
Here is contact info for the folks we worked with:
Willie Bodrak
Jim Seaholm & Gustavo Tirado
Silvia Casas Gutierrez - email
888.872.3060 (tollfree from North America)
Cesar Ochoa Lopez - email
044.669.932.7019 (Mazatlan cell)
Pati
AMPI
Ampibolsa, the Mazatlan's MLS system, already has an English version. Ampibolsa does not have a lot of properties detail, because the idea is that the people obtain a personalized deal by contact directly from the real estate professional or by visiting their web site.
I recommend to visit Ampibolsa frequently, because it is constantly brought up to date and the information which exists can be very useful.
Best Regards Luis Sánchez de Tagle Ampibolsa's Manager.
Changes since Fox
I know most won't be interested in this, but several list members have asked so thought I would pass this along. I just had a meeting with Lic. Octavio Almada Ruiz (A notario here) in regards to property investments here in Mexico. There have been a few changes since Fox has been president. Some of the newest changes are, Americans can own as many properties as they want, on multiple Bank Trusts. You are not limited to one. Also, and this is a biggie, the old law was you must hold a property for two years, as your home in Mexico, before you would qualify for the homeowners capital gains tax exemption. The new law shortens that time to 6 months. So now you can buy a home here, re-model and sell at a profit in only six months and NOT be taxed on your profit!
I'm not sure who contributed the above post about capital gains (since there is no credit given), but if you are a US citizen you will still owe capital gains tax on any gain here in Mexico if you owned the property for less than 2 years. Failure to report that income (capital gain) is punishable with large fines and potential jail time. If, on the other hand, you own the home and claim it as your primary residence, you can avoid the US capital gains tax after living in the home for 2 years or more.
David Shafer June, 2008
Mazatlan Online Property System (MOPS)
Henry Laxen May 7,2006
My own, totally unbiased of course, personal favorite. Unlike AMPI, membership is open to anyone, even owners who want to sell their own homes, and all agents, whether they are AMPI members or not. Most listings have a lot of property details, and it is searchable by many critieria. Finally, if you sign up as a potential buyer, you will receive an email every time a new listing comes online.
PROFESSIONAL REALTY SERVICES IN THE DOWNTOWN - Personal Experience
Mazatlan Realty is a partnership between Jim Seaholm, a life-long sales professional, and Gustavo Tirado, who many know as an experienced realty pro in the historic Centro Historico. Their recently formed company is an attempt to apply sound North American business practices to the area in a context of knowledgable, laid back Mexican style. Anybody wanting to buy or sell real estate in Mazatlan, especially the Historic Downtown, would do well to talk with these guys. For more details, contacts, and current listings, see their website
Lin Robinson - Jan 18 2004
