In Los Cabos real estate, cash transactions often prevail due to limited financing options. However, we understand that every buyer's situation is unique. To provide you with an informative and friendly overview, here are some financing possibilities that may apply to your purchase:

1.     Home Equity Line of Credit

2.     Seller Financing - Short term, typically 2-5 years

3.     Developer Financing - Short term, typically 2-5 years

4.     Intercam Dream Loan

·      Nationality: Open to USA and Canadian citizens

·      Immigration Status: Accepts temporary, permanent, or no residency

·      Minimum Property Value: $250,000.00 USD

·      Loan-to-Value: Up to 65% of the appraisal value (risk-adjusted)

·      Loan Term: 1 to 25 years (risk-adjusted)

·      Fixed Rate: Tailored to your credit profile and market conditions

·      Fees: Includes underwriting, closing, and origination fees

·      Benefits: No prepayment penalty, interest calculated on the unpaid balance, and a seamless one-stop banking experience

·     More information https://www.intercamdreamloan.com/

5.     MOXI (Global Mortgage) - Cross-border lender

·      Interest rates starting from the low 7% and varying upwards

·      Minimum loan amount of $250,000

·      Maximum loan limit of $2.5 million

·      35% downpayment requirement

·     More information https://www.globalmortgage.mx/

Welcome to the exciting phase of your journey! Let's make it enjoyable by arranging a personal meeting or a convenient Zoom call with your dedicated agent. During this friendly and informative discussion, share your vision of the ideal property and lifestyle you envision at your new address. Start thinking of these questions:

Location

Where do you want to live?

What other areas are you interested in?

Price 

What price range are you comfortable with?

Motivation

How soon would you like to be in your new property?

Are you planning on renting short term?

Is this an investment property?

What type of lifestyle are you looking for?

Wishlist 

Are you looking for outdoor areas for entertaining guests

Does an ocean view or city lights enchant you?

Do you need space for pets?

Feel at ease asking your buyer agent about the different neighborhoods within the city, each with its unique advantages and considerations. Discover their proximity to essential amenities like hospitals, grocery stores, or the airport, ensuring a location that perfectly aligns with your needs.

Once your buyer agent fully understands your preferences, they will promptly schedule showings for you. Get ready to explore properties that could be the perfect match for your dream lifestyle!

1. Establish your offer price and conditions

2.Provide your agent with your passport, email, and phone number.

3. Contingencies in your Offer to Purchase (OTP) to safeguard your interests.

·      Home Inspection - You'll have an average of 10 days to conduct a thorough home inspection and reach an agreement with the sellers regarding any necessary repairs or adjustments.
·      Inventory - The seller will have 5 days to present an inventory list and/or exclusion items

4. Once all contingencies are successfully addressed, you can proceed with confidence. The buyer typically has an average of 5 business days to fund escrow, with the earnest money amounting to 10% of the purchase price.The balance 90% will be due 5 business days prior to closing.

5. Closing time can range between 60-90 days depending on the fideicomiso bank or property legal status. 
 
 

After both parties sign the offer, it becomes an accepted agreement. Before proceeding with the initial deposit, we  request that both parties carefully review the contingencies.

The Process

1. To initiate the process of opening your Escrow account, all involved parties must complete the "Know Your Client form" (KYC) and submit their IDs. 

2. If a home inspection is desired, we'll schedule it within 7 to 10 days at your expense (typically between US$300 - $800, varying with the property's size and location). This worthwhile step ensures a thorough assessment of the property, providing you with a detailed report of its current condition.

3. Prior to signing the "Release of Contingencies" document, all other contingencies must be cleared by both parties.

Once contingencies are removed, your designated closing coordinator will be in touch to introduce you to the formal process. You'll receive instructions for your initial deposit

Opening of your Escrow Account

1. Both the Buyer and Seller sign the Escrow Agreement.
2. The Buyer wires their Initial Deposit along with the Escrow Fee ($650 USD) to the Escrow Account, using the provided wire instructions. A deposit receipt is shared with all relevant parties.
3. Additional deposits, as agreed upon between Buyer and Seller, will be wired to the Escrow Account according to the purchase agreement's terms.

Closing Company/Agent 

An agent from the Closing Company will contact you with an Introduction Email, and will provide your estimated closing cost estimate and request documents. 

·      General Information form
·      Copies of passport and driver's license, 
·      Migratory form: Tourist or Resident Visa (if client is in town).
·      Proof of physical address: Utility bill (electricity, water, telephone) 
·      Upon request, a Power of Attorney (POA) will be drafted and executed either locally in Baja California Sur or in US or Canada (specific instructions are given to the grantor).

The process
·      Legal appraisal of the Property, Certificate of No Liens, Trust Permits, and other closing documents required by Notary are obtained.
·      All documents are sent to the Trustee Bank and to the Notary for preparation of final transfer deed including Power of Attorney (if requested).
·      Upon approval by the Trustee Bank and Notary, the closing date is set.

 1. All Utilities must be currently paid up to date by Seller, and Seller shall sign the transfer letter to change contracts with CFE, Water, Telmex (if applicable).
2. All HOA fees and Property Taxes must be paid up to date
3. Pro-rated fees are calculated for costs to be assumed by the Buyer
4. A Settlement statement and disbursement instructions are sent to both Buyer & Seller for review and signatures. 
The Buyer wires the balance of the Purchase Price and Closing Costs to the escrow account. 
The Deed is executed by the Parties before the assigned Notary on the Closing Date and the funds are disbursed from the escrow account.
5. Possession and Beneficial Rights of Property is granted to the Buyer.