Once an offer is accepted, we will:
- Obtain signed copies of the offer and any counter-offers
- Begin the due diligence process
- Request an initial deposit to the escrow account for the property
- Start gathering funds for due diligence and pre-closing costs (via wire transfer)
Required documents include:
- Passport, driver's license, INE, and visa (if applicable) for buyers, substitute beneficiaries, and sellers
- Contact information and personal details including:
- Name, date of birth, nationality
- Marital status, occupation
- Billing address, phone, and email
- Recent utility bills (no older than 2 months)
- Marriage certificate
- For companies: corporate documents and proof of representation
- For foreign entities (LLC or Trust): notarized paperwork with Apostille letters and Spanish translation by a BCS certified translator
The attorney will gather and verify:
- Property title or fideicomiso
- Condo regime deed (if applicable)
- Corporate documentation (if held by a company)
- Construction manifestation
- Certificate of no liens
- Property tax certificate showing zero debt
- Official appraisal
- Power of Attorney (if required)
- Translations and apostilles for foreign documents
- Letters of Good Standing for foreign corporations or HOAs
During closing:
- All documents are delivered to the notary
- Preventive notices are issued
- Final deed is reviewed and approved
- Capital gains tax is confirmed
- Final payment is transferred
- Deed is signed (in person or by POA)
- All invoices (facturas) are collected
After closing:
- Deed is recorded with the Cadastre and Public Registry
- You receive the original recorded deed with attachments and invoices
- Unused closing cost deposits are returned
- Title insurance policy is delivered (if applicable)
Important points about escrow and payments:
- All transactions require an escrow account
- An escrow agreement must be signed by all parties
- Buyer's funds must come from an account in their name or their foreign entity's name
- Partial closing costs must be in escrow before starting the closing process
- All closing costs must be wired to escrow before signing the final deed
- You'll receive an escrow number and statement from the escrow agent
- Additional forms like disbursement instructions and Know Your Customer may be required