A question for condo and car owners in Cancun.

It is possible to obtain a mortgage, an FM2 or FM3 is not required. Mortgage rates are not 15%, but around 8.9% and you will need 30% down and proof of income.

Closing costs are also very expensive in Mexico. but you can file for an amaparo and get most of the tax paid back but it takes close to 1 year.
Regarding maintenance fees at BVG. Remember now you have Bay View Grand Residential and next door Portofino Bay View Grand. They are 2 separate complexes with 2 separate administrations/HOA.

The fees at both are around $2.80 per square meter. They are actually quite reasonable compared to what I pay in the USA (about half comparing apples to apples) for my oceanfront condo, and for the services provided. Remember the fee also included hurricane insurance on your property, minus personal belongings.

anyway average fees are as follows
2 bedroom is around $500 monthly
3 bedroom around $650 monthly
4 bedroom around $850 monthly

Regarding prices below would be averages and cash buyers get the best deals so the prices would be shown assuming you are in need of financing. I say this because cash buyers can close within 2-3 weeks and those obtaining financing 2-3 months. Prices are for fully furnished unit

2 Bedroom unit = $430,000 to $460,000 - 180 to 190 sq emeters
3 Bedroom unit = $500,000 to $650,000 (these come in different sizes and then outside and inside units) - 225 to 255 sq emeters
4 bedroom units = $750,000 to $800,000 - 285 to 310 sq emeters

 

Thanks for the very good, first hand knowledge report, BVG.

I had written-

Looks like I was in the ballpark with what I'd written earlier, always nice to know; and, compared to what we pay for what we get, those condo fees don't sound out of line at all for a first rate, on the sea complex like that.

 

Here is some Mortgage info

Hello Steve

My name is Erling Halvorsen, I am a senior loan officer with Mexloan in Cozumel and Cancun. Michelle Mcall from Dorel Vorinda realty, asked me to make contact with you and forward information on current mortgage programs in Cozumel. Our company has been active in Cozumnel for some 15 years with great success. We can provide loans with 20 percent down on a 30 year moprtgage. Canadians too with 25 percent down. There are no upfront fees for credit approvals. If you have any questions , please contact me at 360-389-6743 or e-mail me at erling@mexloan.com hope to hear from you

Regards,

Erling



Dear Friends & Customers,

In order to contribute and help with the current real estate market condition, we hereby inform you that Stewart Title Riviera Maya will be granting Escrow Services for FREE until further notice, If Legal Closing or Title Insurance services are hired.

In addition, please remember that Stewart Title counts with Mortgage Services by which we can assist US & Canadian purchasers with Financing to acquire a new home in México.

If you have any questions, comments or require immediate assistance, don’t hesitate to let us know.

Very Best Regards.

--------------------------

Estimados Amigos y Clientes,

Para contribuir y ayudar a las condiciones del mercado inmobiliario, anunciamos que Stewart Title Riviera Maya estará otorgando servicios de Escrow de manera GRATUITA hasta nuevo aviso, siempre y cuando se contratan servicios Legales de Cierre o Seguro de Propiedad Inmobiliaria.

Adicionalmente, les recordamos que Stewart Title cuenta con Servicios Hipotecarios mediante los cuales podemos asistir a americanos y canadienses en comprar sus casas en México.

En caso de que tengan alguna pregunta, comentario o requieran de asistencia, por favor no duden en comunicarse con nosotros.

Saludos Cordiales.

Ivan Castillo Lasso.
General Manager.
Stewart Title Riviera Maya.
Ph. (52) 984.879.43.87 / 88
984.803.41.37
Fax. (52) 984.879.43.45
Us Ph. (858) 433.06.94
www.stewartlat.com
Advertencia: Esta comunicación y sus anexos contienen inform

 

Good resources Steve. Thanks for the info.

I hope you are doing well. Keep in touch.

T.J.