The Fives Buyer's Guide

Buying a luxury condominium suite at The Fives is as secure as buying a condominium in Canada or the United States.

What is the bank trust (fideicomiso)?

The "Fideicomiso" or bank trust is the legal vehicle provided by Mexican Law for foreigners to acquire real estate in Mexico within the so called Restricted Zone (30 miles from the shore and 60 miles from the border).

Owning property in Mexico through a bank trust is as sound and lawful as direct ownership. In fact, owning property in Mexico through a bank trust has proven additional benefits to owners when selling or willing their assets in Mexico.

Bank Trusts are incorporated for a 50 year term, but said term is renewable. Therefore owning real estate through this vehicle could be a perpetual deal.

Purchase Process

Our sales team of professionals will assist buyers throughout the purchasing process to secure 100% satisfaction. Likewise, we will introduce you to an independent, reputable lawyer who has been assisting foreigners investing in Mexico for more than 10 years.

By the magnificent waters of Mexico's Caribbean Sea you will find The Fives, a luxury condominium resort like no other. Here, your complete comfort and satisfaction is our primary goal. In-house highly trained and knowledgeable staff will take care of all the details necessary to ensure that your stay with us is truly a memorable experience.

Our highly experienced in house professional sales team, is thoroughly trained to assist perspective purchasers through the buying process in Mexico. Every step of the purchase process will be reviewed and explained in full detail. Upon request, we can also recommend local and trusted independent professionals such as Notaries, Lawyers, Accountants, Title Companies and Banks. Our number one goal is to ensure your complete satisfaction and that the buying process is clear, concise and seamlessly executed.

Our two purchase alternatives at The Fives are cash or mortgage.

Payment terms

• 10,000 for reservation
• 30% of the property value at the signing of purchase contract.
• Balance at closing by means of cash of mortgage.

Mortgage

The Fives works with the most prestigious Mexican banks offering best mortgage conditions and which lend up to 70% of the property value and their approving processes and closing are fairly expeditious.

Closing

Transferring of ownership though a Title Deed must be witnessed and granted by a Public Notary, who has the authority to sanction real estate transactions in Mexico. The Notary Public is also responsible for updating public records.

The Fives (Developer/ Seller) is responsible to provide the Notary Public with all pertinent documents related to the real estate transaction.

The Notary Public is responsible for calculating and collecting all costs and expenses related to each closing and it is customary for buyers to pay all said cost and expenses. Closing costs are typically between 4 and 6% of the transaction value and include Public Registry Rights, Land Acquisition Tax, No liens certificate, bank trust, Notary fees, etc.