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Why Choose Mérida?
Property Ownership in Mexico
Fideicomiso or Mexican Corporation
Estimated Buyer's Closing Costs
Foreigners buying less than 2000 square meters within 50 km of the coast of within 100 km of the border are required to use a bank trust or fideicomiso for the purchase. You do own the property and the term of the trust is 50 years with a 50 year automatic renewal. If your heirs still own the property at the end of the term (and a trust is still required), they would simply form a new trust.
What is a Fideicomiso? A fideicomiso is a real estate trust held on your behalf by a Mexican bank. The bank acts as the Trustee, and you and those you designate are the Beneficiaries of the trust. As the beneficiary of the trust, you maintain complete control over it, retaining the use of the property and making all investment decisions. A fideicomiso bestows upon the Beneficiary of the Trust (you) absolute and irrevocable control over the property: to enjoy, lease, improve, mortgage, sell, inherit and will. Simply stated, your property is placed in a trust that you own to be administered by a Mexican bank on your behalf. If the property you are buying already has an existing fideicomiso, this can transfer to you. This is a better way to purchase a property if you have that option, as it is a less time-consuming process and a slightly less expensive process as well.
It is the seller's responsibility to provide proof that the CFE bills have been paid on a property. Also, keep in mind that sometimes there are more than one electrical or water meter in a property (especially a large property that might have at one time been two separate properties). If you buy a property and there is money due to CFE or JAPAY, the buyer must pay what is owed before the service can be changed into your name.
Costs
New Fideicomiso permit fee to the government…………………………….. ..$1100.00 USD
Fideicomiso bank set-up fee……………………………………………………… $650.00 USD
First year management fee for trust…………………………………………...... $650.00 USD
Attorney’s fees is based on purchase price, (approximately) ……………….. $1500.00 USD
Recording fees, appraisal, miscellaneous……………………………………......$500.00 USD
Purchase Tax (impuesto de adquisicion) In Merida and most áreas......2.5% of purchase price
In Progreso, Chelem, Chuburna ...............................................................3% of purchase price
In Telchac Puerto ......................................................................................4% of purchase price
Note: Fees to the bank, notary and government may be higher as they are based on the amount named on the new title as the “purchase price”. They also vary depending on the attorney and bank you choose. This is just a rough guide, and this is an important detail. It is advantageous to the seller to put the lowest purchase price possible, as there are fewer taxes. Conversely, it is advantageous to the buyer to have a higher registered purchase price, as when they sell their property, they will have a lower capital gain that will be taxed.
Tax Information for Rental Property
Attorneys
Diego Quiroz
52.999.968.2153 Cell and WhatsApp
Alonso Hernandez Castillo
52.999.944.5114
52.999.970.0466 Cell and WhatsApp
Architects
Juan Carlos Alonso Espinosa
999.129.8128 cell and WhatsApp
Mercedes Sanchez
cervera_sanchez_arquitectos@msn.com
52.999.958.0961
Construction and Building
Merida Yucatan Construction
999.440.8896 Cell and WhatsApp
mexintl.com/property/005600
Specializing in high-quality building and construction from initial design to completion in and around Merida and the beachfront. Albert is available for design services, IHNA permits, building projects small and large as well as inspections and repairs. He constantly monitors and supervises all workmanship, provides weekly progress reports and is consistently professional. Albert stands behind his work and you can be assured it will always be top-notch and of high-quality. We highly recommend Albert and his design services for all of your construction needs. Albert is completely bi-lingual and speaks English and Spanish.
Restaurants and Nightlife
Food, Fun, Hotels and Travel Information
A Few of Our Favorite Restaurants
Carboni: https://carbonimerida.com/
Voltacafe: https://voltacafe.mx/
Soco: https://www.socomerida.com/
Cubanita: https://www.facebook.com/pages/category/Cuban-Restaurant/La-Cubanita-1535067146773215/
Apoala: http://www.apoala.mx/,
Micaela: https://www.facebook.com/Micaelamarylena
Oliva: https://www.olivamerida.com/
130 Steakhouse: http://www.130grados.mx/
Zinc Comfort Food: https://www.facebook.com/zinccomfortfoodmerida
La Negrita: https://www.facebook.com/LaNegritaMerida
Paseo 60: https://www.paseo60.com/
Entertainment and Nightlife
The Top 10 Pyramids
10 Amazing Things to do in Merida
Hippie-inheels Travel Guide
Hotel and Travel
Merida Hotel Guide
New Boutique Hotels
Top 10 Haciendas to Visit Near Merida
Merida Tours-Trip Advisor
Merida City Tours
INAH Boundary Map
Yucatan Today
Merida English Library
Slow Food Market
Health Care
Emergency Medical
066 or 113 from cellular
Hospital Contact Information
Clinina de Merida Phone: +52-999-942-1800
Location: Centro Merida
Address: Av. Itzáes No. 242, Colonia García Ginerés, Merida
Email: clinmer@sureste.com
Star Medica Phone: +52-999-930-2880
Location: North Merida
Address: Calle 26 #199, por 15 y 7, Col. Altabrisa, Merida
Centro Medico de Los Americas Phone: +52-999-926-2111
Location: Centro Merida
Email: cma@centromedicodelasamericas.com.mx
Address: Calle 54 #365 x 33-A y Avenida Pérez Ponce, Colonia Centro, Merida
Ambulances
Clinica de Merida 925 7398 or
Star Medica 924 1322
Doctor House Calls
Referred by the U.S. Consulate: Dr. Carlos Cabrebra - (999) 292 8436
Health Care Insurance Options
Ana Patricia Sales Cervera
Health Itinerary
healthitinerary.com
patriciacervera@healthitinerary.com
999.926.2721 or 999.740.5819
Dentist
INFORMATION FOR FREQUENTLY ASKED QUESTIONS
