R E A L E S T A T E Relax Already 5 signs you’re making a good investment 32 Los Cabos Magazine | Summer 2016 Francisco Estrada It’s only natural. You’re buying your first foreign property. Your friends and family are all telling you that you’re crazy to be risking such a large portion of your assets on real estate in México. They tell you horror stories about people who have lost everything to unscrupulous developers. At some point, you start listening to them and tentatively begin to wonder, “What if I really am making a big mistake?” Are you really making a huge blunder? Probably not, and here are some reassuring signs that this investment will be not only safe but advantageous. “Doy Fe” Make no mistake: No matter how familiar sounding the title of notario By Carol S. Billups público is, it is by no means the same as a notary public up north. In fact, a closer equivalent would be a magistrate. Notarios públicos are government appointed attorneys who have completed four additional years of study and who are charged by the government with overseeing your transaction and ensuring it is safe. It is their duty to make sure that every part of the transaction conforms to the laws of México and the state of Baja California Sur. As part of that project, they will research the title, verify there are no legal claims, and see to it that all of the necessary procedures have been done properly. The last two words of the trust will be Doy Fe: I give faith—his or her assurance to you that your investment is secure. We’re Committed to You Let’s face it: The most risk-averse organizations on Earth are insurance companies. Concurrent but separate from the notario público’s investigation of your purchase, you may elect to have a title insurance company evaluate the risk. Major U.S.-based title insurers also do business here in Los Cabos, Armor (formerly Fidelity) and Stewart Title among them. When they issue a letter committing to issuing a policy to you for this property, it is guaranteed they believe you will never have to file a claim. Although the actual policy is not issued until after the closing, the letter of commitment is another sign that an expert feels that you are making a good choice.
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