Category: Real Estate Law

10 Reasons why you should hire an attorney when you purchase property in Michoacan

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By Liliana Elena Gonzalez Unless you’re significantly experienced in the buying process, you speak Spanish fluently and you are familiar with legal paperwork, it will be wise to hire a real estate lawyer. Legal representation will provide peace-of-mind (someone looking out for your interests). Here are ten reasons why: 1.- There is no specific law for real estate transactions in Mexico. – Therefore, there is no obligation to write a purchase agreement or “Attorney Review Period” in an offer. 2.- There is no mandatory education or test to become a…

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Is the owner the real owner?

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By Liliana Gonzalez @mexatua In my almost 20 years as a real estate attorney and broker, I have found several issues in the owner´s deed that makes it difficult or impossible to close on a property, unless legal paperwork or procedures are done. When I list a property for sale, I review the deed and, if I see any issues, I immediately start working on fixing them. Same thing when buyers hire me to represent them in a FSBO or when the owners have their own agent. In some cases, the…

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What you should do if you have a property for rent or lease in México?

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By Liliana Gonzalez @mexatua If you own property in México and you need to rent it out, I have 7 suggestions to protect you in case something goes wrong (renters not paying rent on time, or not paying at all, causing damage to your property or building, fixing anything without your permission, causing problems to neighbors, you name it).Here are my suggestions: 1.- Have a good rental agreement in Spanish, prepared or reviewed by an attorney. If you are working with a real estate agent, make sure he/she is a lawyer or TSUCI…

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Taxes in a Real Estate Transaction in Mexico

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By Liliana Gonzalez @mexatua Four different taxes might apply in a real estate transaction in Mexico: ISAI, IVA, Acquisition ISR and ISR a) Acquisition tax.- Also known as ISAI. b) Value added tax. – Also known as IVA. c) Acquisition ISR tax.- This is a tax on the profits for acquisition d) ISR tax. – Also known as I.S.R. (Impuesto Sobre la Renta). The first three taxes, if apply, must be paid by buyer. The last one must be paid by seller. a) Acquisition tax.- ISAI (impuesto sobre adquisición de…

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Do you know what Catastro Price is?

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By Liliana Gonzalez @mexatua Catastro is the analytical inventory and recording of real property located in a certain area. Its aim is to keep a census with all quantitative and qualitative characteristics of real estate in the area. Catastro is handle by the state´s treasury office in every state in Mexico (called Tesorería). Catastro divide properties by areas and set values. These values are the basis to calculate yearly tax payment also known as predial payment. Catastro price equals the government price.  It updates values at any change of property:…

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The New Michoacan Real Estate Law

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By Liliana Elena González TSUCI, CIPS, ABR, TRC @mexatua The New Real Estate Law (Ley Para la Prestación de Servicios Inmobiliarios en el Estado de Michoacán) was approved in the session hall of the legislative branch in Morelia on December 4, 2014 and published in the Official Journal of the State of Michoacan on December 31, 2014. The law is in force since January 1st 2015 and their main purposes are: 1. To create a Registry of Real Estate Agents, Agencies & Associations. 2. To keep records of Real Estate…

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Liliana Successfully Marketed my House in Patzcuaro

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I am glad to recommend Liliana for anyone looking for assistance in conducting any real estate business in the Morelia/Patzcuaro area. She successfully marketed my house in Corazon de Durazno, in Patzcuaro. My beautiful home was sold in august 2013, despite a recent moderation in the real estate atmosphere. Liliana speaks excellent English. Her real estate website is unique in its high quality. Her patience and insight into local conditions are a great asset. Robert Toy

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It is not Easy to Buy a House in Another Country

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  Dear Liliana. I want to share my gratitude and appreciation on the journey to buy a home in corazon de durazno, patzcuaro. I met you this past May while inquiring about the existing house for sale. You were very attentive to all my needs, answering emails most times within the hour and returning all of my calls promptly. I personally went there to see the house and you always provided immediate and helpful feedback, which always helped to calm my nerves since is not easy to buy a house…

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I like to say, she waved her magic wand

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I met Liliana Elena Gonzalez Castro about 7 years ago when I purchased my house in Tzintzuntzan. I was very impressed with her professionalism, knowledge of real estate and Mexican Real Estate law. Throughout the years, she has been an invaluable resource to me in many ways. Recently, I had to sell my house, and of course I chose Liliana to be my agent. In a difficult market, during difficult economic times, Liliana managed to bring me a buyer. And the deal was more complicated due to certain issues in…

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Real Estate Agent and Lawyer Who Could Speak English

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My wife and I were browsing through listings on the internet, where we found Mexatua  and Liliana Gonzalez, what a blessing that was. We contacted Liliana as our real estate agent in conjunction with a home for sale in Patzcuaro. We were anxious about buying real estate in Mexico but after a short discussion with Liliana we were relieved to find she was a real estate agent and lawyer who could speak English and seemed to understand our concerns about buying property in Michoacán. Liliana sent us a list of…

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