Your success in selling a home in Mexico depends on several factors like the current housing market, the price you are asking, and how you market the home. Just as in the U.S. you can decide to actively sell the home yourself or hire the services of a real estate agent, but when you hire a real estate agent, you have to do your research. This is because real estate agents are not regulated as they are in the United States and a good agent is successful because of his service and reputation.
For Sale by Owner
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Step 1
Take a copy of your deed and your last property tax receipts to a Notario Publico (Mexican contract lawyer and Notary Public). The lawyer will check with the state tax and property ownership office to make sure all the documents are in order. Prepare for a small fee of approximately $50 for this service. If the Notary finds any anomalies he will list them for you and quote a nominal price to fix these.
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Step 2
Value the home. Valuation of properties in Mexico is different from the U.S. and is not based on the number of rooms in the house but on the total property area and the total square meters of construction. However, there are other influencing factors on the home value, like the area in which it is located, and other similar sale values of properties in the same area. Hire an appraiser to help find the true value of your home. Look at other homes that have sold in the area and find out what the selling price was. Ask the current owners, or look in real estate newspapers to find out what other property owners are asking. Be willing to negotiate on the final price. Remember, in Mexico everything is negotiated, but especially real estate and vehicles.
Step 3
Advertise the home in English-written newspapers, on locally placed bulletin boards in churches, grocery stores, and clubs where foreigners visit. Use local online bulletin boards, and groups to advertise your home. Place online classified ads in the international section of websites like Craig's List. Place an advertisement in locally-owned free real estate flyers and magazines. Place banner ads on retirement social network sites like Boomers Abroad, or Retiring Singles.
Step 4
Use word of mouth. Foreign communities in Mexico are very close knit, so it is important to let everyone know that you want to sell your home. They will tell newcomers they meet about your house for sale.
Step 5
Find your buyer and go with them to the Notario Publico. The Notario will help process all the final buying arrangements and transfer of the deed using escrow. This final process takes from 30 to 90 days to complete.
Use a Local Real Estate Agent
Step 1
Prepare your home documentation as you did in Step 1 and 2 of the first section.
Step 2
Locate a good real estate agent by asking other foreigners who they have used. Find a real estate agent who has a large network of acquaintances and who offers personalized service. Often, choosing the largest real estate agency is not the best idea in Mexico. Real estate buyers tend to choose agents that are known for their personalized services in Mexico.
Step 3
Visit local real estate agents and ask about the services they include with their selling fee. Most will walk you through and accompany you to the Notario Publico and work through the final closing of the sale.
Step 4
List your home with one or more real estate agents. You are not forced to sign an exclusivity contract, and can list with several agents. Make sure you have stated a reasonable listing time in your contract. You don't want to list with a real estate agent indefinitely.
Step 5
Wait for the house to be sold, which can take anywhere from a few months to several years depending on the selling market, and the asking price you have established.