

$895,000 Reduced $379,000 In Escrow $325,000 Reduced
525 N Harbor Blvd
San Pedro, CA 90731
ph: 310-415-5013
alt: 310-833-3397
robinson

Foreigners may obtain direct ownership of property in the interior of Mexico. But, under Mexican law, foreigners cannot acquire direct ownership of residential property within the area 100 kilometers from the border and 50 kilometers from the coastline. This area is know as the restricted zone. Buying a property in the restricted zone is acquired through a "Mexican bank trust", known as a fideicomiso. The term for a fideicomiso is 50 years and can be renewed. The fideicomiso allows you to pass the property to your heirs without probate. You may build, tear down existing structures, remodel, rent, lease or sell at any time.
Property acquired for commercial use by foreigners may be owned without the need for a bank trust, provided the property is held in a Mexican corporation.
Real estate transactions in Mexico are "closed" by a Notario Publico, an official highly respected government lawyer who acts as a neutral intermediary. The notary is responsible for formalizaton of the final real estate contract, collection of transfer and capital gains taxes, and recordation of the transfer with the Public Registry.
A foreigner seeking to purchase property in Mexico should seek professional advice before proceeding. I work with trustworthy, qualified professionals who will guide you through the entire buying process, answer any questions or concerns you may have, prior to purchasing.
Casa Buena Vista boasts 1120 sq ft of living space, 2 spacious bedrooms, 2 bathrooms, an open floorplan, gourmet kitchen, AC, a rooftop deck with 360 degree view.
Buena Vista Suite is a 370 sq ft guest suite with a 3/4 bath, kitchenette and private patio. Can be used in conjunction with main house as a master suite or can be rented out separately.
Casita Buena Vista is a spacious 305 sq ft studio casita with a 3/4 bath, kitchenette, and private patio. This unit is used as a rental property, managed by Captain Kirk's.
Copyright 2010 Kitty's La Ventana Listings. All rights reserved.
525 N Harbor Blvd
San Pedro, CA 90731
ph: 310-415-5013
alt: 310-833-3397
robinson