real estate in Yucatan grows in value

Frequently Asked Questions

WHY USE A REAL ESTATE COMPANY WHEN BUYING PROERTY IN MEXICO?

Mayan Living Real Estate is registered Mexican corporation S.A. de C.V. and has been successfully in business for over 10 years.

We highly recommend that you consult professionals and/or legal counsel when considering any investment whether domestic or international. We are your eyes and ears on the ground here in Mexico and will take you step by step through the buying or selling process. We make ourselves available to you 24 hours a day, seven days a week. And we also offer a Bi-lingual Concierge service for all of your needs. This service will assist you in getting power, water and telephone service, buying furniture, renewing FM3, FM2, and just generally where to find everything you need for you new home. We have bi-lingual agents as well working for Mayan Living that can assist you in all you translation needs. When you purchase or sell with us you can be certain that our notaries and lawyers conduct a title search, review all property documents and dot all the “i’s” and cross all the “t’s.”

We strictly follow a Code of Ethics and Standards of Practice that promote the fair, ethical and honest treatment of all parties in a transaction. Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. Considering the small upside cost and the large downside risk, it would be unwise to consider a deal in real estate without the professional assistance of an accredited Mexican Real Estate Company. Mayan Living Real Estate can guide you through the closing process and make sure everything flows smoothly.
Mayan Living Real Estate can help you determine your buying power. That is, your financial reserves plus your borrowing capacity. If you give your agent some basic information about your available savings, income and current debt, we can refer you to our exclusive lending partner who is qualified to help you.
Mayan Living Real Estate can assist you in the selection process by providing objective information about each property. Our Agents have access to a variety of informational resources. We can provide local community information on utilities, hospitals, schools, etc. Mayan Living Real Estate can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment.
Mayan Living Real Estate provides due diligence, meaning we investigate all the details of your potential investment, during the evaluation of the property you choose. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and this can sometimes be hindered in the confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Mayan Living Real Estate and our notaries and attorneys can help you resolve issues that might cause you problems at a later date.
When selling your home, Mayan Living Real Estate can give you up-to-date information on what is happening in the marketplace and the price, financing (if applicable), terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
Mayan Living Real Estate markets your property to other real estate agents and the public. Often, your agent can recommend repairs, cosmetic work and provide staging guidance that will significantly enhance the salability of your property. In many markets over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Mayan Living Real Estate acts as the marketing coordinator, disbursing information about your property to other real estate agents or other cooperative marketing networks, open houses
Mayan Living Real Estate has the facts on comparable pricing, neighborhood trends and housing market conditions, data you can use to set your best course of action and maximize your homes resale value when you are ready to sell.
Mayan Living Real Estate has years of experience in the housing market here in Mexico and is knowledgeable about developments and trends in real estate in our area.
Our guarantee is that Mayan Living Real Estate will be there with you every step of the way!

WHAT ABOUT CRIME…… IS MERIDA SAFE?

Violent crimes in Mexico are very rare and Merida and the Yucatan are considered by most people to be one of the safest places on earth to live. In Merida, you can walk down any street in Centro day or night without worrying about purse snatching or muggings.

WHY? First there is a different philosophy of law and order. The Mexican approach is based on the Napoleonic Code rather than English Common Law. Therefore, instead of being innocent until proven guilty, a person must prove their innocence or take the penalty. Thus, people in Mexico tend to be more careful and concerned in their dealings with others and in their behavior.

A second factor (especially in the Yucatan) is that it is primarily a family and community oriented society and there is very little juvenile crime and delinquency. For example: on weekends, instead of the youth driving around, drinking and looking for trouble; they go to many of Merida´s town squares with their parents and family. In Merida, you can see teenagers escorting their Grandparents and even dancing with them in the Zocolo.

In addition, neighbors (both Mexican and foreigner) watch out for each other and keep an eye on each other´s property while they are away from home.

CAN I EAT THE FOOD WITHOUT GETTING SICK?

In Merida, you can find a wide variety of restaurants from fast food to five star. Merida also has a huge number of street vendors…all of which are safe. I have been in Merida for over two years and have never once been sick. However, I would personally recommend drinking bottled water.

Merida has a large variety of grocery stores and many local market places with tremendous selections of fresh fruits, vegetables and produce that truly make shopping a pleasant experience. The Mexican climate provides year round growing so that berries, melons, mangos, pineapples, avocados, bananas, lettuce, squash, etc. are picked for the market when fresh and are delicious.

WHAT ABOUT PETS AND VETS?

Dogs and cats with a veterinarian´s certificate indicating updated immunizations can be brought into Mexico without any quarantine. The vets in Merida are all well trained, inexpensive and even make house calls at no added cost. Those of us at Mayan Living have a combined total of seven cats and four dogs and we all like our vets and would be more than happy to give you their phone numbers. My vet also has a service that will pick up my dog, bath her, clip her and return her safely home for $12 US.

WHAT ABOUT AUTOMOBILE INSURANCE?

If you bring your car from the States or Canada (using your tourist visa or your FM3), you must have insurance. We have one car we brought from the States and one we purchased in Mexico. Insurance for our vehicle from the States costs about $200 a year for full coverage and has to be purchased from the States. The insurance on the Mexican car was purchased in Merida and is slightly higher. We would be more than happy to recommend both agencies.

WHY IS MERIDA CALLED THE WHITE CITY?

There are probably three reasons why it is called the White City: (1) the inhabitants generally wear white guayaberas, huipilles and Panama hats, (2) there is a white lime mixture that is used to spread on most of the roof tops to make them watertight and (3) the cleanliness of the city. The streets, plazas and parks are generally cleaned every day.

CAN YOU TELL ME MORE ABOUT THE HISTORY OF MERIDA?

Merida, the colonial capital of the Yucatan was founded by Francisco de Montejo (a Spaniard) in 1542. When the Spanish arrived, they conquered the Mayan city of T´ho or Ichcansiho, tore down the pyramids and used the huge stones to build the foundation for the Cathedral of San Idelfonso. The Spaniards enslaved the Indians and built grand houses, offices and cathedrals. Merida became the capital, trade center and seat of civil and religious authority of the Peninsula. The Indians finally rebelled in the 1840´s ( the Caste War).

WHAT IS MERIDA LIKE TODAY?

Merida today has about 950,000 residents and is a very cosmopolitan city with Mayan and Spanish descendants and is an extremely cultural city with many museums, libraries, theaters, numerous universities, etc. The economy that was once based on the henequen industry is now based on tourism, agriculture and fishing plus Merida´s export business is increasing every day. Some of the items exported are honey, sisal rope, petroleum products, hammocks, fine jewelry, concentrated orange juice, fish etc.

Residents call Merida "the Paris of the West" because of it´s tree lined boulevards, colonial mansions and estates of the henequen barons of the 1800¨s. There are many things to see in and around Merida. It is an easy drive from Merida to beaches, Mayan ruins, haciendas, etc. One of the nicest things about Merida is its people. The Yucatecan people are hospitable, honest, easygoing, hard working and make wonderful neighbors.

DOES MERIDA HAVE GOOD MEDICAL AND DENTAL FACILITIES?

YES! Merida has numerous hospitals that are staffed by well trained physicians, most of whom were trained in the United States. The hospitals in Merida are considered among the best in Mexico. Wonderful, inexpensive dental work is also available in Merida. Many Americans and Canadians have been taking advantage of this for years. Also within the past five years, a growing number of Americans and Canadians have been coming to Merida for plastic surgery. We would be more than happy to refer you to competent doctors, dentists and plastic surgeons in Merida.

HOW MUCH SHOULD I TIP?

Tipping varies from place to place and depending on what the services is, the following is a general rule to follow:

  • restaurants…15%
  • hotel and guest house help…. at least 10 pesos ($1 US) per day
  • strolling musicians…. 40 to 50 pesos
  • parking attendants….. 5 to 6 pesos
  • bag boys and girls at the grocery store…. 5 to 6 pesos
  • gas station attendants….. 5 to 6 pesos….YES, gas stations are still full service in Merida
  • Extra tips for exceptional service are always welcomed and appreciated