3 Steps to Reserve an Apartment in The Riviera Maya
Hello, this is Alberto Amador from Live The Tulum Dream.
When we work with real estate agents many times they send us options and they forget about us, we never hear from them again. It is not that I am putting dirt on my real estate colleagues, but sometimes we do not (and I include myself) have a good follow-up to our clients for lack of a good organization.
This is why in order to make life easier for our beloved real estate consultants and more importantly for our clients, I’ll leave here the steps to reserve your dream apartment.
1- Most developments in the Riviera Maya will ask you to reserve the unit with 3 or 5 thousand dollars for 15 business days. Make sure they are 15 business days or 3 weeks. During that period of time, the developer will not be able to sell or increase the prices of that unit.
In that period of time, the developer will send you the contracts so that you can analyze them with your lawyer or trusted people. You can do everything digitally or coming to Mexico and close the deal in person as well.
If for some reason you change your mind and decide not to invest, it’s OK, send an email to your broker and the deposit will be returned in full without any problem.
If you decide to move forward you sign the digital contract and return it digitally as well. That is very important since now the developer will have to return a signed copy to you.
2- Now, This is when you have to choose one of the payment methods that I am now going to describe.
The traditional payment method is 30-40-30 means that it will be 30% down payment, 40% during construction, and 30% when your apartment is delivered to you. But what about the $ 3,000 USD for the reservation?… Don't worry, those will become part of the down payment. In other words, the down payment will be 30% minus the $ 3,000 for your reservation.
The second method of payment can be a 50% Down payment, 30% during construction and 20% upon delivery. As you are giving more money to the developer sometimes they offer a -3% discount of the total value.
The third payment method is 80% down payment and 20% upon delivery in which case.. you can ask for up to -6% discount. Of the total price.
3- After is signed then will go to the 30% downpayment and now I can say... Congratulations! You are a proud owner of a property in one of the best investments areas in Mexico.
Remember this type of payment method is when they are properties in Pre-Sale Only. If they are properties that are already built and ready to deliver, they will ask you for 100% of the value.
I hope these real estate tips in Tulum and Playa del Carmen will help you. If you have any questions, do not hesitate to contact me and as always ... See you on the beach!