Purchasing Guide - Biencom Real Estate

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Mexico Real Estate Buyer’s Guide

How to Buy Property in Lake Chapala

Thinking about buying a home in Lake Chapala or Ajijic? You’re not alone. Every year, thousands of visitors fall in love with this lakeside paradise and decide to make it their new home, whether as retirees, investors, or full-time residents.

This guide walks you through the process of buying real estate in Mexico—from choosing an agent to signing at the notary—so you can make informed decisions and avoid unnecessary surprises.

Why Lake Chapala?

Lake Chapala, located just south of Guadalajara, has become one of Mexico’s most desirable destinations for expats thanks to its mild climate, low cost of living, and welcoming community. Towns like Ajijic, San Antonio Tlayacapan, and Jocotepec offer a unique mix of Mexican culture and international comfort.

Step 1: Choose a Qualified Real Estate Agent

Work with an agent who is a member of AMPI (Asociación Mexicana de Profesionales Inmobiliarios), Mexico’s leading real estate association affiliated with NAR.

At Biencom Real Estate, our agents undergo continuous training and certification to ensure professional and transparent service.

Step 2: Select a Trusted Real Estate Agency

Choose an agency with a solid reputation and long-standing presence in the region.

Biencom Real Estate was founded in Ajijic in 2012 and later expanded to Puerto Vallarta and Barra de Navidad, becoming the first real estate company active in all three of Jalisco’s major tourism markets.

Step 3: Understand the Purchase Agreement

Once you’ve found the perfect property, your agent will prepare a bilingual purchase agreement (English-Spanish) covering all key details: purchase price, payment terms, deposit, due diligence, and closing date.

Your agent will also help you determine a fair offer based on current market data and MLS statistics, ensuring your proposal is competitive but reasonable.

Step 4: Make a Deposit (Down Payment)

After your offer is accepted, you’ll typically have 1–10 days to make a deposit of around 10% of the purchase price. This deposit is usually refundable during the due diligence period (10–20 days) until all property checks are completed.

Step 5: Use a Secure Escrow Service

In Lake Chapala, the escrow deposit is held by real estate companies legally authorized as depositors.

Escrow protects both buyer and seller—funds are released only when all contract conditions are met.
(Deposits do not accrue interest, and disputes are extremely rare.)

Step 6: Complete Due Diligence

During due diligence, your agent will help you verify:

The property deed (escritura)
No-lien certificate (certificado de libertad de gravamen)
Property tax and HOA receipts
Building regulations and restrictions
Optional engineering inspection

Once all checks are approved, the agreement becomes fully binding and the closing process begins.

Step 7: Calculate Closing Costs

Buyers in Mexico are responsible for 100% of closing costs, which typically range from 3% to 4% of the purchase price at Lake Chapala.

These costs may include:

Transfer tax (approx. 2%)
Trust permit fees (for foreigners)
Appraisal and registration fees
Notary fees (0.5%–1%)
Government filing fees

Your Biencom agent will provide a detailed estimate in advance so you can plan accordingly.

Step 8: Closing the Deal

Closings in Mexico take place at a Notary Public’s office—a highly specialized legal authority that validates property transactions and registers them with the Land Registry Office (Registro Público).

Biencom Real Estate has bilingual closing coordinators who assist clients throughout the process, review documents, translate deeds, and ensure a smooth signing.

Once everyone signs and funds are released, the property officially transfers to your name (or to your trust, if applicable).

Step 9: After Closing

Within approximately 90 days, the notary will register your deed and notify you when it’s ready for collection. You’ll receive:

Registered Deed (Escritura) – your official proof of ownership.
Registro Letter – confirming date and time of registration.
Digital Tax Receipts (Facturas) – for both property price and closing costs.

Keep these documents safe—they’re essential for calculating your capital gains tax if you sell later.

Step 10: Selling in the Future

When selling, capital gains tax (ISR) in Mexico ranges from 20–36% of the profit. However, if the property is your primary residence, and you hold a resident visa and RFC tax ID, you may qualify for significant exemptions.

Your agent and notary can help you confirm eligibility and prepare the correct documentation.

Need Help?

Buying a home in Mexico doesn’t have to be complicated.

Our certified agents at Biencom Real Estate will walk you through every step of the process—from finding your dream home in Lake Chapala to closing safely and securely.

Lake Chapala

Puerto Vallarta

Costa Alegre