Paying in Cash for your Mexican Property

Because the use of an American escrow company is often favorable over using a Mexican company, paying cash poses no particular problems or has any requirements or restrictions. Like American transactions the money can simply be wired from the purchasers bank account to escrow and from there once escrow has closed the money will be wired to the seller or a check can be issued.

With the availability of mortgages, cash is used less often and mortgages are now becoming more used for purchasing Mexican property. If the mortgage bank is an American bank, and many are, most Americans will use these American banks, title and escrow so all funds remain in the U. S. until the transaction is completed and title is officially recorded in the new owner’s name. This type of transaction is far safer for Americans and other non Mexican residents and ensures a completely legal and safe transaction.