While many Mexican Real Estate Offices request that you deposit your down payment in their hands -DO NOT DO THIS. Think about it, would you hand a stranger $10,000 dollars or more that has no incentive to return your deposit if the deal falls apart.
Our Company Royal Realty was the first company that uses a secure American Company to hold not only your down payment but all transaction funds. No one else handles your money except the largest US Escrow Company, First American Titile and Escrow, located in Sunrise, Florida. Call Teresa Cores at 1 954 839 2900 ext 185.
Contact Teresa Cores for escrow account information. The Specific account we use is called a Custodial account.
For a one time fee of $550 dollars your money is guaranteed secure. This fee pays for all the wire transfers in the final closing. There may be 5 or more wire transfers, if you had to pay for these international wire transfers the fee is $40 dollars for each wire transfer.
This is more like your personal checking account. The funds only move with your signature. You can cancel the deal at any time for a full
refund given without any reason, just on your demand to cancel the operation for a full refund - the $550 service fee.
NEVER WORK WITH A COMPANY THAT WILL NOT USE A US ESCROW COMPANY.
Most Entry Level Mexican/Cancun Properties are purchased with cash or a US Home Equity Loan.
90% of all Cancun purchases under $150,000 USD are done with cash or home equity loan purchase.
The minimum amount of money a mortgage company will loan is for a property of $125,000 USD in most cases.
Cash purchases assure the seller they have a real deal and are completed with the greatest expediency-5 weeks.
Should you need a conventional mortgage be aware that the closing time is on
average 90 days for a US originated mortgage. Closing costs and interest rates will be higher than a
home equity loan. Call Eric at 1 480 634 1662 who represents www.MexLoan.com the best source for a Mexican
Mortgage. Fixed rate (6.5% to 9.5%) and A.R.M.S. are available. These loans take about 90 days to close.
So before you start looking for a property start your researching Mexican Mortgage financing options.
The best Mortgage option for many people are Security Backed Mortgages. If you have a stock portfolio
of at least $150,000 USD you can keep the stocks in your name, still acrue dividens and obtain the lowest
possible interest rate (about 4.5%) and the shortest closing time less than 4 weeks.
Home Equity Loan.
That being said, if you need a mortgage, apply for the mortgage before shopping for a property unless
you are prepared to place a $5,000 USD non-refundable deposit in escrow. If you are not
approved you will loose the deposit. The Seller will be compensated with that deposit for removing his
home from the market for 90 days.
You will save an extra $3,000 USD in closing costs and 2% interest per year with a home equity loan.
Call Erlign or Eric at US Offices of MexLoan Inc..
With over 10 years in the mortgage bu iness they will find the right mortagage for you. US PHONE
1 480 634 1662
FAX US 1 602 445 9901
MAIL: 2564 W. Medina Avenue, Mesa, AZ 85202
Web Site: www.MexLoan.com
While property values are decreasing throughout the world. Cancun's values are rock solid. Why?
1. Cancun is a World Class Destination and rental income
from these properties will pay for the property within 10 years.
2. Low overhead, Low Property taxes (90% less than US property taxes), Great Security (lower crime than any U.S. City, and the most modern infrastructure in the Caribbean with 3 modern hospitals, and inexpensive.
3. The only mistake you can make is waiting until you are priced out of the Cancun market. Prices have averaged 10% increases each year because there is no where else on the Island of Cancun to build
