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San Carlos
Are you considering buying
a beach house in San Carlos, Sonora, Mexico?
Have you considered a professional home inspection?
There are multiple reasons to want to live in San Carlos. Warm winter weather, natural beauty, open spaces, beautiful beaches, water sports, and community all lead to a greater quality of life.
Homeownership isn't for everyone. But for those that choose to make the commitment there are many perks. Affordable living, future equity, and having a place to call home near the beach are just a few.
Buying real estate anywhere can be challenging, but buying a home in a foreign country is completely different and often overwhelming. There is much to examine when considering making one of the largest purchases in your lifetime.
Do you know what Caveat Emptor means? Caveat emptor is a Latin phrase that means "let the buyer beware." This is how real estate is sold in Mexico-Sold "As-Is".
According to the Arizona Department of Real Estate guide for "Foreigners Purchasing Mexican Real Estate" (click the link) there are several critical considerations. Along with working with a professional, licensed real estate agent who can guide you through the daunting process, it is important to also consider the following:
The Inspection Period
Arizona real estate transactions provide for a period of time, generally ten days, in which the buyer can have the property inspected and can present the seller with a list of items the buyer would like to have the seller correct before closing. This step does not formally exist in a transaction in Mexico. Therefore, it is important for a potential buyer to do the “homework” on the condition of the property before entering into the transaction. Make inspections a contingency in the offer to purchase. Use a specific and reasonable timeline for this contingency to be met.
The Inspection Report
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According to the American Society of Home Inspectors, the importance of having a
property inspected by a professional inspector cannot be over-emphasized. An
inspection is a visual physical examination, performed for a fee, designed to identify
material defects in the property. The inspector will generally provide the buyer with a report detailing information about the property’s condition. The buyer should carefully review this report with the inspector and ask the inspector about any item of concern. Pay attention to the scope of the inspection and any portions of the property excluded from the inspection.
The Property Disclosure Statement
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According to the Arizona Department of Real Estate, “Buying Real Estate in Mexico - A Consumer’s Guide,” the Seller’s Property Disclosure Statement (SPDS) includes disclosures around a fairly lengthy series of questions about the condition of the property. The SPDS is something Arizonans selling their properties almost always provide buyers, but it is not customary in Mexico. Some areas of Mexico, with large numbers of foreign buyers, have begun using seller’s disclosure statements. A buyer receiving a disclosure statement is not standard practice in Mexico.
Punchlist Report
The purpose of a Punchlist Home Inspection is to provide the buyer with basic information about the functionality of the home, as conditions will allow. The following will be included in the detailed report:
All mechanical systems to be operated, deficiencies noted and photos provided.
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Inform the client of the location of main water valves and shutoffs, sewer clean outs, and cisterns.
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Functionality of plumbing fixtures, drains and shutoffs.
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Location of electric ingress, electric meter and breaker panels both indoors and outdoors, if present.
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Check the operation of doors, windows, and cabinets.
Provide product serial and model numbers for all major appliances.
A visual inspection of the roof with drone technology.
Obvious indications of water damage of interior and exterior.
Trip hazards and safety issues.
Presence or lack of fire safety devices.
Operation of garage doors and openers.
Location of visible, unusual structural occurrences or indications.
General overview of swimming pool and spa.
Obvious evidence of active termites or mold.
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Punchlist Report is general observation only. Report does not guarantee all defects are found and does not guarantee or warranty the safety or condition of the home.
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In no way does the report represent absolute integrity of any household systems or structural integrity. Hire your own specialty contractors.