Buying in San Miguel de Allende

Discover what it takes to buy with confidence.
From navigating legal requirements to understanding the local market, we’ve got you covered.

FAQs

Can foreigners own property in Mexico?

Yes — foreigners can own property in Mexico. Outside of the “restricted zone” (within 50 km of coasts or 100 km of borders), ownership is direct. Inside restricted zones, foreigners use a fideicomiso (bank trust) or a Mexican corporation to hold the property legally.

What are the steps to buying a home in San Miguel?

Connect with a local agent
Define your goals & budget
Search neighborhoods & shortlist homes
Submit an offer & negotiate
Perform due diligence ( permits)
Finalize and close with the notario.

Do I need a fideicomiso?

A trustee bank holds title, but you keep full rights — use, sell, lease, inherit. Outside restricted zones, you can own directly.

How long does it take to close?

Typically 4 to 8 weeks, depending on document preparation, notary scheduling, and any required permits.

What are typical closing costs?

Expect 5 % of the purchase price, including notary, registration, legal fees, tax.

Is financing available?

Yes, some banks or lenders offer financing (often for Mexican citizens). For non-residents, financing is more limited and often done through private lenders or seller financing.

Do I need a real estate attorney?

Yes. While the notary drafts and records the deed, an independent attorney protects your interest: reviewing title, contracts, and securing that all obligations are honored.