Frequently Asked Questions - Boardwalk Realty PV

Frequently Asked Questions

General Questions

What areas do you serve?

We specialize in properties located in Puerto Vallarta and the surrounding regions. Whether you're looking for a beachfront condo or a hillside villa, we're here to help you find your dream property.

What services does Boardwalk Realty PV offer?

We offer comprehensive real estate services, including buying and selling residential and commercial properties. Our experienced team is committed to providing personalized assistance throughout the entire process.

How can I contact you for more information?

You can reach us by phone at [insert phone number], email at [insert email address], or by filling out the contact form on our website. We're always ready to assist you with your real estate needs.

Buying Property

How do I start the process of buying a property in Puerto Vallarta?

Begin by determining your budget and property preferences. Contact one of our knowledgeable agents who will guide you through property selection, viewing, and the purchasing process from start to finish.

Can foreigners buy property in Mexico?

Yes, foreigners can own property in Mexico. For properties within the restricted zone (50 km from the coast), ownership is facilitated through a bank trust known as a "fideicomiso." We have extensive experience assisting foreign buyers with this process.

What additional costs should I expect when purchasing a property?

Additional costs may include closing fees, taxes, notary fees, and bank trust setup fees for foreign buyers. These costs typically range from 5% to 7% of the property's purchase price.

How long does the buying process take?

The buying process can take anywhere from 30 to 60 days, depending on factors like financing, negotiations, and legal requirements. We'll work diligently to ensure a smooth and timely transaction.

Selling Property

How do you determine the value of my property?

We conduct a Comparative Market Analysis (CMA), considering recent sales of similar properties, current market trends, and unique features of your property to provide an accurate valuation.

What strategies do you use to market my property?

Our marketing strategies include professional photography, virtual tours, listings on major real estate platforms, social media promotion, email campaigns, and collaboration with our extensive network of agents.

What should I do to prepare my property for sale?

We recommend decluttering, making necessary repairs, and enhancing curb appeal. Our agents can provide personalized suggestions to make your property more attractive to potential buyers.

How long does it usually take to sell a property?

The time it takes to sell a property varies based on market conditions, property type, and pricing. On average, properties in our area sell within [insert timeframe]. We'll provide a more precise estimate after evaluating your property.

Legal and Financial

What is a fideicomiso (bank trust)?

A fideicomiso is a trust agreement that allows foreign buyers to purchase property within the restricted zone in Mexico. A Mexican bank holds the trust deed on your behalf, granting you all rights of ownership, including the ability to sell, lease, or bequeath the property.

Do I need a lawyer to buy property in Mexico?

While not legally required, hiring a lawyer is highly recommended to review contracts and ensure all legal aspects of the transaction are in order. We can recommend reputable legal professionals experienced in Mexican real estate law.

Can you assist with obtaining financing?

Yes, we can connect you with local banks and financial institutions that offer mortgage options to both Mexican nationals and foreign buyers. Financing terms may vary, and we'll help you navigate the options available.

What are the property taxes like in Puerto Vallarta?

Property taxes in Mexico are generally low compared to the U.S. and Canada. The annual property tax (predial) is a percentage of the assessed value of the property, typically around 0.1%.

Investing in Puerto Vallarta

Is Puerto Vallarta a good place to invest in real estate?

Absolutely! Puerto Vallarta is a thriving tourist destination with a strong real estate market. The area offers excellent opportunities for investment due to its growing economy, beautiful scenery, and increasing demand for properties.

What is the potential return on investment (ROI)?

ROI can vary based on property type, location, and market conditions. Many investors see favorable returns due to property appreciation and the potential for rental income. We can provide data on recent market trends to help you make an informed decision.

Are there any tax implications for owning property in Mexico?

Yes, there are tax considerations, including annual property taxes and capital gains taxes upon selling the property. We recommend consulting with a tax professional familiar with Mexican and international tax laws to understand your obligations.

Visiting and Living in Puerto Vallarta

What is the cost of living in Puerto Vallarta?

The cost of living in Puerto Vallarta is generally lower than in many North American and European cities. Housing, groceries, dining out, and healthcare are more affordable, making it an attractive option for retirees and expatriates.

What amenities and activities are available in the area?

Puerto Vallarta offers a wide range of amenities, including shopping centers, world-class restaurants, hospitals, and international schools. Recreational activities abound, such as golf, fishing, hiking, cultural festivals, and a vibrant arts scene.

Is Puerto Vallarta safe for residents and tourists?

Yes, Puerto Vallarta is considered one of the safest cities in Mexico. It has a strong focus on tourism and a welcoming community, contributing to a secure environment for both residents and visitors.

Do I need to speak Spanish to live in Puerto Vallarta?

While knowing Spanish can enhance your experience, many locals and expatriates speak English, especially in tourist areas. Language classes are also available if you wish to learn or improve your Spanish.

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Puerto Vallarta Neighborhoods