Your Questions, Answered

At Engel & Völkers Snell Real Estate, a full-time Closing Coordinator oversees the integrity and coordination of the entire transaction. Similar to a title and escrow agent in the United States, the Closing Coordinator liaises with the buyer, seller, notary, escrow agent, attorneys, developer, and realtor to ensure a smooth, efficient, and legally sound process from start to finish.

Most transactions in Los Cabos close within 60–90 calendar days for cash purchases and 90–120 calendar days for financed transactions. While Engel & Völkers Snell Real Estate has developed a streamlined process, occasional delays may occur due to factors such as trustee bank response times, municipal permitting, or document processing.

The initial closing date is outlined in the Offer to Purchase or Purchase Agreement between buyer and seller. However, the final closing date is determined by the notary, as it depends on the completion of all legal requirements. While every effort is made to meet the date agreed upon by both parties, timelines may shift due to the number of entities involved, including the trustee bank, federal and county government offices.

The notary public is the legal authority responsible for conducting real estate closings in Mexico. Due to the complexity of transactions, Engel & Völkers Snell Real Estate assigns a dedicated Closing Coordinator to manage all aspects of the process—from due diligence and trust setup to coordinating documentation and walking clients through every stage to ensure a smooth closing.

In most cases, no. Closings can be completed remotely. A power of attorney (POA) is typically granted through a notarized and apostilled (or certified, in Canada) instruction letter, which authorizes the trustee bank to act on the buyer’s or seller’s behalf. This document is attached to the Fideicomiso and used in lieu of personal signatures at closing. Certified translations are also required for foreign documents. If the buyer or seller does not grant a Power of Attorney (POA), signing the sales deed in person with a wet ink signature becomes mandatory. In this case, you will need to be physically present in Los Cabos, Mexico for the final closing.

Unless otherwise negotiated, possession is transferred simultaneously with the transfer of title and the release of funds from escrow to the seller. In certain situations, a ‘soft closing’ may be arranged, provided it is mutually agreed upon by both the buyer and the seller. In such cases, an occupancy agreement will be executed. Typically, 100% of the purchase price must be deposited into the escrow account, with 80% released to the seller. In return, the buyer is granted possession and use of the property.

The buyer typically covers all standard closing costs, including notary fees, taxes, and trust-related expenses. The seller is responsible for capital gains tax and any personal legal fees incurred, such as those related to POAs, legal representation, or trust cancellation (only when required), property tax, HOA fees, utility bills, etc.

Buyers may title property individually, jointly, or through a U.S. entity such as an LLC or partnership. Legal and tax implications are the same in Mexico regardless of structure. Family trusts are no longer accepted by most trustee banks, so individual or entity-based ownership is generally recommended.

Foreigners also have the option of creating a Mexican corporation to avoid entering into a trust. However, this process takes more time and is only recommended if the property will primarily be used for rental income and if you have the support of an accountant or tax attorney to manage the appropriate tax strategy and compliance.

Yes. Beneficiaries can be appointed when establishing or transferring the fideicomiso. There are no age restrictions—only valid passport identification is required. This simplifies inheritance and avoids the need for probate in Mexico.

Title officially transfers when signed by all parties—Buyer, Seller, Notary, and Trustee Officer. Public registration takes about three months. Once recorded, the deed can be collected directly from the Notary by the titleholder or an authorized representative.

No. All Fideicomisos are legally executed in Spanish. However, your Engel & Völkers Snell Real Estate Closing Coordinator can assist in obtaining an official English translation for your records.

Yes. Fideicomisos are issued for 50 years and can be renewed for an additional 50 years. After 100 years, a new foreign affairs permit is required to extend the trust under current Mexican law.

Yes. A Fideicomiso is granted for an initial 50-year term, and under current Mexican law, it can be renewed for an additional 50 years. Once the combined 100-year term expires, the buyer must obtain a new foreign affairs permit to extend the trust.

An Assignment of Rights allows a buyer to assume the existing Fideicomiso of the seller, rather than establishing a new trust. This is common in resale transactions and may result in reduced closing costs and a shorter closing timeline, as no new foreign affairs permit is required. The decision to proceed with an Assignment of Rights or a new trust is typically made by the Notary and is based on the remaining term of the existing trust and legal considerations.