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Buying Real Estate In Cozumel
By Jennifer Bailey, Thu Dec 8th
As beautiful and modern as Cozumel is, visitors must rememberthat it is a foreign country is not part of America, although itcaters quite well to American tourists. Everybody on Cozumelspeaks English, some with little or no detectable accent. Theatmosphere on the island is extremely international so thefrequent traveler or long term guest may forget that it is infact Mexico he is visiting and not Hawaii with a Spanish flair.Buying or owning some property on the island is not the same asbuying or owning property in America. Foreigners are allowed tobuy property on the island, but you must use the services of anexperienced real estate attorney. If the property is in arestricted zone such as along borders, coastal areas or wildlifepreserves, you must first obtain a “fidei comiso” or bank trustinstrument established and recorded by a notary public. Home and property prices are cheaper in Cozumel than in the USA, and the price depends, as it does anywhere, upon the size andlocation of the property. Obviously beachfront homes andproperty will cost more than a similar sized investment inland.Homes and property in town are cheaper than those on the rest ofthe island. Condominiums, dotting many locations, are availabledepending upon your tastes and budgets. Lately, timeshares havebecome all the rage as tourists can “own” a piece of the islandthat is theirs to enjoy for a modestly small investment.Currently, the overall real estate market on the island isdefinitely a “sellers” market so you must be prepared to spendsome time and do your research to find just the right piece ofparadise for your budget. Interview several real estate agents out of the many that
areavailable on the island before you settle on one who can handleyour purchase. Decide whether you’d like to purchase some rawland and build your island dream home on it or purchase afinished home out of the many that are available. The realtorwill give you listings of available properties and escort you tothem for viewing. If you’ve found something you like, he canthen instruct you on the best way, using the most securemethods, to complete the transaction. It may take several tripsto the island or more time than you had anticipated to find justthat right slice of heaven to call your own, but in the end itwill be worth it.
About the author:Cozumel Info providesdetailed information about Cozumel beaches, weather, vacations,real estate, hotels, and more. Cozumel Info is the sister siteof Punta Cana Web.
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