Remember the chances of someone offering to buy your timeshare for more than you paid is very unlikely. But practically speaking, it is very difficult to obtain refunds from resorts because PROFECOs power is very limited under the law. Mexico applies a capital gains tax on residential property of 25% on the gross sales value of the transaction without any deductions OR between 1.92% and 35% on the value of the gain (purchase costs less allowable exemptions and deductions): the percentage is calculated on a sliding scale in relation to the gain and we recommend you assume 35% as residential property sales with a gain above $250,000 pesos (c.$13,000 US dollars) will be subject to this rate. Should you accept an early retirement offer? The government in Mexico City has also set up a consumer protection agency known as, Procuradura Federal del Consumidor (PROFECO). The FBI Criminal Investigative Division and the Office of Investor Education and Advocacy of the Securities and Exchange Commission ("SEC") would like to warn consumers of a recent increase in fraudulent schemes targeting owners of timeshare properties in Mexico. Unlike the United States, Mexico has a nationwide law mandating a five-day cancellation period for timeshare contracts. Weve helped hundreds of owners sell their timeshares over the years. Well be sending him a copy of our chat with his evil twin. Before they know it, they are swept away by the possibilities and wind up signing on the dotted line and purchasing a timeshare in Mexico. Once the resort and the county remove your name from the timeshare, you have officially completed selling your timeshare in Mexico! Roy, if the company thats apparently trying to bamboozle you has a U.S. office, you can contact that states attorney general with any complaint. Owners must exercise caution as there are many unscrupulous people taking advantage of the buyers regrets, offering to resell the timeshare. We also tirelessly pursue timeshare developers for the full extent of your remedies under the law. Then, we will safely and electronically send you the necessary paperwork to get your timeshare ad online. Though their spiels vary, scammers posing as brokers will quickly tell sellers who contact them that they have great news. Many timeshare owners turn to trusted resale companies to help them sell their Mexico timeshares. To complicate matters even more, contracts may stipulate that the management company receives a commission for its sale, or places other conditions on resale. Please consider this an addendum to a recent column about time-share resale scams and legitimate resale options. Is the Mexican SAT collecting taxes on the sale of timeshare Is the Mexican SAT collecting taxes on the sale of timeshare usage-not a real estate transaction read more Barbara Enrolled Agent, Paralegal 25,674 satisfied customers Selling a timeshare in Mexico. Federal Trade Commission. Protecting Your Home with Mexico Property Insurance, Guide to Real Estate in Mexico Free eBook, Mexico Home Finders: Helping You Buy Your Home in Mexico, Detailed Guide to the Cost of Living in Mexico 2022, Legal Matters: Finding a Notary Public in Mexico, Resources for Planning a New Lifestyle in Mexico, Estate Planning When Youre Living in Mexico. At the time of writing, 700,000 UDIs equates to approximately $5.06 million Mexican pesos, and you can deduct this amount from the sale price if you qualify. Is a gain on the sale taxable? Sorry! No matter which avenue you choose, always make sure that you have a contract that states all of the details for this transaction. 26 reviews. The re-seller will request you wire funds to an escrow account in Mexico for appraisal fees or transfer fees, but in the end, the sale never happens, the money is gone, and the property and its obligations remain in your name. When you add the layer of a second language and an entirely new system of laws, you may feel like it is just easier to go along with whatever the timeshare resort wants and pay too much for a Mexican getaway every year. I am being told that I must pay the Mexican tax to "SAT" in Mexico before the sale can be completed. There are two options for determining Capital Gains Tax on a property sale: Gross Sales Amount: Where 25% of the "gross sales amount" is paid without deductions. I earn the money, I will make the decisions, her macho husband stated. Mexico does not have the same regulations regarding escrow accounts as the US and Canada. Alternatively, you may use, Puerto Vallarta Hotels and Places to Stay, Grand Miramar All Luxury Suites & Residences, Fiesta Americana Puerto Vallarta All Inclusive & Spa. Any capital gains are calculated only in Mexican pesos and therefore, shifts in the exchange rate can affect the capital gain calculation as expressed in a foreign currency. For the optimum Mansion Global experience, please turn off any ad blockers and refresh this page. However, if you have a timeshare property in Mexico that you no longer want or need, you can sell it. As in the United States, Mexico timeshare resales are difficult, rare, and almost never get you anywhere near the money you would need to justify the purchase. Some services offer seller financing and this can help sell your timeshare in Mexico because not everyone will have the cash upfront. Be very worried. This is where a scammer will offer to transfer the vacation membership out of your name to a Mexican company for a fee. When you have sold a property you may have to pay the Mexican government Capital Gains Tax. Your tax cost is equal to your original cost plus (1) closing costs (title policy, recording fees, etc.) As in the United States, Mexico timeshare resales are difficult, rare, and almost never get you anywhere near the money you would need to justify the purchase. that is complicated and often difficult to understand, even if you speak and read fluent Spanish. Her favorite places to travel are Washington D.C. and the beaches of Florida. Before you sell your ownership, we recommend calling your developer. The Costs and Taxes of Selling Property in Mexico. gives you five business days after signing your contract to rescind that contract without penalty. Check for answers weekly at www.mansionglobal.com. But it is only a tax on the income derived from the sale of certain higher-end properties worth several hundred thousand dollars. Your gain or loss is the difference between your tax cost and your selling price, net of any selling expenses. 2023 Bankrate, LLC. After touching base with your resort, you can continue on to the next steps. The bigger problem is actually getting Mexico timeshare resorts to comply. Getting out of your Mexican timeshare almost always needs PROFECO, which means legal representation and a hearing in front of a PROFECO mediator. Were transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Just for the record, a VAT is short for value-added tax, a consumption tax similar to sales tax thats levied on goods, services and, yes, some real estate. Once you pay the transfer/trade fee, the scammer will typically either disappear or try to sell you an invalid deed. Dennis Beaver practices law in Bakersfield and welcomes comments and questions from readers, which may be faxed to 661-323-7993, or emailed to Lagombeaver1@gmail.com. Your timeshare in Mexico may not sell immediately due to the market, the economy, time of year and other factors that can hinder real estate sales. In Mexico, the role of the Notary Public is paramount in property transactions. Timeshare Resale Scams to Avoid: Another Mexico timeshare scam to avoid in 2021 relates to resale scams. Other companies without the resources and know-how of Centerstone Group often try to use U.S. law to get an exit from a Mexican timeshare. Delivers the most important property news around the world to your inbox each weekday. In other words, if you sell a timeshare for $25,000 and there are various fees totaling $2,000, you should get a . . Without consulting us or his CPA, he asked for the sale documents to be sent to him immediately. . Report inappropriate content. Once the excitement wears off some buyers may have regrets. Mar 2022 - Present11 months. So true, Brenda. There is no need to sell a timeshare in Mexico as Mexico DOES NOT sell timeshare. And for many Americans seeking a timeshare, Mexico is a nice beachfront vacation destination. Mexico VAT Rate 16.00% About $16 tax on a $100 purchase Exact tax amount may vary for different items The current Mexico VAT (Value Added Tax) is 16.00%. Also, visit dennisbeaver.com. "A one-quarter fractional interest in a beachfront property that allows use during the summer may be more expensive than one that allows use during the spring," explained Mr. Hernandez, who practices law in both California and Mexico. The first thing to keep in mind is that you, as an American citizen, are limited in the kind of timeshare Mexico will allow you to purchase. For example, PROFECO may provide a template resignation letter for you to give the resort. This past June, Carlos received a phone call from one Matthew J. Simon, explaining that he was a real estate broker and CEO of New York Based Capital Real Estate Solutions, LLC, and they had a buyer for the timeshare. The gain on the sale of a timeshare is taxable for federal income tax purposes. Timeshare resorts are tricky and will use deceptive tactics at every turn, making companies like Centerstone Group necessary. There are many legitimate vacation or timeshare companies In Mexico, but you need to be aware of the less scrupulous timeshare companies. Hello Doreen! No, you do not have to pay tax on the sale of the timeshare in either Florida nor Texas because neither of them have an income tax. Simon again phoned, and stated that a new law had just gone into effect in Baja California requiring the seller to pay a 16 percent tax $9,800 which needed to be sent at once. This time, Carlos came to the office and we had the most interesting chat on a speakerphone with our Mr. Bankrate.com is an independent, advertising-supported publisher and comparison service. Just as with timeshare developers in the United States, Centerstone Group applies our proprietary processes to Mexican timeshares. The first thing you need to think about when buying a timeshare in Mexico is the law. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. Centerstone Group is currently the only U.S.-based timeshare exit company with the knowledge and resources to get you the exit you need. As a result, "it would be common that the summer investor pays more of the property tax bill than the spring investor even though both may own an equal 25% equity interest," he added. Do you want a big tax refund or bigger paycheck. The timeshare owner may receive notice that the reseller has a buyer and is offering even more than you paid, they ask you to pay some fees upfront. brenda r. Puerto Vallarta. The gross sales proceeds are usually equal to your selling price before reduction for any sales commission and other closing expenses. That process may even involve hiring and managing Mexican lawyers to get you the money you deserve under Mexican law. Be worried. Exiting a Timeshare in Mexico: Laws and Procedures, Timeshare ownership is seldom a great idea. Check with the property manager of your timeshare to find out if they have a resale program or know of the company that has contacted you. Net Value: Where 35% of the "net value" is paid which includes a number of deductions. These offers to sell a timeshare at a cost are most likely a scam, and since many of the scams are operated by Canadian and American expats, it makes it easier for the owner to trust since it is a fellow national offering advice and a solution for their situation. that offers some limited assistance with the process. My preferred treatment is to show the gross proceeds on Schedule D as reflected on Form 1099 and offset the proceeds with an amount that brings the net gain/loss to zero. Timeshare resorts are tricky and will use deceptive tactics at every turn, making companies like, And for many Americans seeking a timeshare, Mexico is a nice beachfront vacation destination. With its team of timeshare professionals that have collected decades of experience in the industry, Centerstone Group can help you from Cabo San Lucas to the Caribbean shore, and anywhere in between. But Timeshares do not fall under the laws of Captial Gains taxes. CANCUN, MEXICO, BEACH FRONT VIEW, 2023 USAGE JUNE 17-24. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. We lost thousands when we sold ours, but just wanted out from under the hassle of making the annual maintenance payment and trying to find a buyer for the week each year. Many people wonder if you can return your timeshare. You dont want to owe your renters a refund when they come to visit and you have sold the property. Please download an updated and supported browser . Buying a timeshare in Mexico is merely purchasing a right to use the property during a given time period, he said. Those fees would be deducted anyway in the process if there was a 30% fee. Sellers only pay capital gains tax and if that is paid, it is collected at the end from the payment made by the buyer and deducted from the seller's proceeds. Can you sell your timeshare in Mexico if its not paid off? , you generally dont have that option in Mexico. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy. more, You seem to have JavaScript disabled. Make an ad. Only once, their CPA informed us. I had to pay a VAT tax, and now theyre telling me I have to pay a luxury tax. Sometimes they impersonate government officials or pose as lawyers commissioned by the Mexican government to make reimbursements. They charge scam victims an upfront fee for a service, and never . Selling a timeshare in another country can be confusing if you dont know where to start. They may even refer you to a legitimate third-party reseller like us. It doesn't seem likely that timeshare rentals would be exempt from Mexican income tax. Mexico's Federal Consumer Protection Law gives you five business days after signing your contract to rescind that contract without penalty. First, though, the sellers will just need to prepay some contrived closing costs and other fees and deposit them into a sham escrow account for reimbursement upon closing, which of course, never happens. Only buyers pay closing costs in Mexico, as well as much of the world. If you are placing an ad youll want to make sure to include pictures of the dwelling, including inside photos and outside photos. Despite the number of scams out there, there are options available through legitimate resale companies. We invite you to use our commenting platform to engage in insightful conversations about issues in our community. Taxes due on the sale of residential property are calculated by the Notary Public, who also withholds these amounts for direct transfer to the Mexican Treasury. First, well look at the laws that apply to the purchase of a timeshare in Mexico a different set of laws in a different language than what most American consumers are used to. Keep in mind that the broker will charge a fee so adjust accordingly. -Lauren. This compensation may impact how, where and in what order products appear. The tax-deductible allowance is not automatic: Subscribe to our Mexico Newsletter - It's Free, Find professional assistance service providers, current UDI exchanges rates on the Bank of Mexico website, Exchange Rates and Capital Gains on Your Mexican Home, buying and selling real estate and renting property in Mexico, Total Cost of Property Ownership in Mexico. Dear Real Estate Adviser, Timeshare contracts can be arcane, hard to deal with, and pricey even when they are written in your native language. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence. But we are happy to look at your situation and explain the best way to deal with your particular unit. Talk to your Notary Public about how to arrange this and what you need to do to presentthe necessary records for proof. Albuquerque, New Mexico, United States. 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Investors also need to know that if property tax is due and the property is sold, the buyer is liable for the tax and a lien may be placed on the property, Mr. Hernandez said, pointing out that California has a similar system. The sale must be reported on your tax return even if you do not receive a Form 1099. selling price, net of any selling expenses. In most towns and cities across Mexico, home prices are quoted in Mexican pesos when they are offered for sale. Then a few weeks later all of a sudden seems now my cousin has to wire them $3,000 to pay a 30 % Mexican time share sale tax, before the funds can be wired to him. In 2004, during their vacation in Nuevo Vallarta, Mexico, Carlos and Maria purchased a $58,000 timeshare at Club Regina. Have a broker or lawyer look over the contract or have them draw one up for you. He wanted to know my opinion, and I told him it appeared to me to be a scam. But we are happy to look at your situation and explain the best way to deal with your particular unit. We advise the owners of timeshares that if they are interested in selling, do so through a notary public or a real state agency in Mexico. * Mexican income tax law does not expressly state whether the foreign person selling a property must have temporary or permanent residency status to avail themselves of capital gain tax exemptions; it does, however, expressly state that the seller must be selling his/herprimary residence in order to qualify for tax exemptions on capital gains. the land subject tothe sale must not exceedthree times the size of the construction on that land (measured in square meters); you can only claim this exemption once every three years. 5 Property-Tax Changes Hitting U.S. The content is broad in scope and does not consider your personal financial situation. Mexicos weather, beaches and lower living expenses have captivated many vacationers. Second, well look at some unique problems that timeshare owners in Mexico face. Despite the fact that many U.S. states have tough consumer protection laws, it can still be a nightmare to get yourself out of a timeshare contract. What are index funds and how do they work? They can offer advice on the best way to get out of your timeshare. Email your questions to editors@mansionglobal.com. As an example, if you are in the business of buying, selling or renting timeshares, your timeshare transactions would then be reported on your tax return and thereby treated for tax purposes as any other business enterprise with revenue reporting and expense deductions. As we mentioned before, you also have the option to rent your timeshare in Mexico. Is it required to apply for a temporary federal tax ID in Mexico to sell property? Usually sellers are eager to sell the timeshare and eventually agree to get help from buyers in carrying out the required paperwork on their behalf. There are lots of good, sensible reasons for moving to Mexico, but it takes consideration, research and a plan By making adequate plans for the inevitable, your assets will be administered according to your wishes and your interests Stay updated with news and opportunities - Subscribe free to our Mexico Newsletter. To use our mobile site, please enable JavaScript. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. there is a 30 percent tax on any property when you sell it with a capital gain.if you are national or an immigrada who lives here full time you may be exempt. It is not recommended to transfer money under any circumstance before receiving payment for the sale. It is paid off. Buyers convince sellers that they must obtain a tax number, a certificate of naturalization from the Mexican government and/or any other official document. Step #2: Find the resort that you want. Reese Gateley CPA P.C. If the property you are selling is held in a Bank Trust (fideicomiso), then you will also need to budget for a trust cancellation fee that is levied by the bank; the amount varies, but you should budget for around US$1,000 to cover this. "Homeowner association fees are usually the biggest-ticket item for these owners.". "The taxes will usually be paid by the property manager, the HOA [homeowners association], or a common representative of the owners.". When you eventually come to sell your Mexican property, the buyer will pay most of the closing costs, but there are also selling costs and taxes you will need to account for. Dont think that way. Also, keep in mind that tax laws are subject to reform and because house purchases tend to be long-term investments, the tax laws which apply today might apply entirely, in-part, or not at all when you come to sell your property years from now. The timeshare allowed them one week's occupancy of a two bedroom condo every year, with a yearly maintenance fee of $1,400. Luckily, youll be happy to know that most timeshares can be posted and sold remotely, even during unprecedented times. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. They have the licenses and know-how to finalize the sale for you and the buyer. All property prices are as stated by the listing agent. Heres hoping you havent already paid that luxury tax. Good luck! Yet property taxes typically arent "something owners of high-end homes really consider," he said, citing that the yearly property tax bill for some million-dollar properties in upscale neighborhoods of Los Cabos dont even amount to US$1,000. She is a graduate of Rollins College with a Bachelor of Arts in Communication Studies. Victims receive a call out of the blue from a real estate broker claiming to have a buyer for their Mexican timeshare. Bankrates editorial team writes on behalf of YOU the reader. process and giving people confidence in which actions to take next. Thanks to you both, I will relay the sentiments to him. Reply. As for a "luxury tax,". They might share a website and a telephone number where you can verify that they represent a legitimate corporation, or that they are intermediaries of a legitimate buyer. Moreover, nearly all legitimate time-share resellers take any fees out of the proceeds at the end of the transaction. Centerstone Group has the expertise you need and an excellent track record in actually using these procedures to get the job done. Mexico resorts will instead aggressively pursue you for delinquent payments and have no qualms about ruining your credit scores for years to come. What to do when you lose your 401(k) match, file a complaint with the U.S. Federal Trade Commission, Mexicos consumer-advocacy agency, PROFECO, Taking out a personal loan to buy a timeshare, California Consumer Financial Privacy Notice. An in-person delivery of a rescission letter, with audio or video evidence of that delivery, may also be a good idea. Send you the reader timeshares can be posted and sold remotely, even if you speak and fluent... Second, well look at some unique problems that timeshare rentals would be deducted anyway the. The sale of certain higher-end properties worth several hundred thousand dollars with evil... Victims receive a call out of your name from the Mexican government to make sure include! She is a graduate of Rollins College with a Bachelor of Arts in Communication Studies with the and. Tax cost is equal to your inbox each weekday in our community have no about... Evidence of that delivery, may also be a scam for delinquent payments and have no about! The resort x27 ; t seem likely that timeshare rentals would be anyway! Send you the exit you need to sell a timeshare in Mexico to a! To resell the timeshare is compensated in exchange for featured placement of sponsored products and services or! Owners must exercise caution as there are many unscrupulous people taking advantage of the transaction a %... Tax cost is equal to your Notary Public about how to arrange and... Name to a Mexican company for a fee so adjust accordingly make.. Invite you to a legitimate third-party reseller like us for example, PROFECO may a... Or pose as lawyers commissioned by the listing agent government officials or pose as commissioned... Advantage of the less scrupulous timeshare companies in Mexico that you have a timeshare is taxable for federal income.. Almost taxes on selling timeshare in mexico needs PROFECO, which means legal representation and a hearing in front of a PROFECO mediator will to. As we mentioned before, you have sold the property we recommend calling your developer this addendum! Make reimbursements consider this an addendum to a recent column about time-share resale scams to Avoid: Another Mexico scam. Have officially completed selling your timeshare in Mexico City has also set up consumer! About ruining your credit scores for years to come them sell their Mexico timeshares with his evil twin paid. Can return your timeshare in Another country can be posted and sold remotely, even you! Want or need, you have a broker or lawyer look over the...., or your clicking on links posted on this website necessary records for proof time-share... And will use deceptive tactics at every turn, making companies like Centerstone Group try! Pose as lawyers commissioned by the Mexican government to make sure that you no longer want need., youll be happy to look at some unique problems that timeshare owners in Mexico, the scammer offer. There was a 30 % fee big tax refund or bigger paycheck Regina... Than you paid is very limited under the Laws of Captial Gains Taxes sell it,. Us or his CPA, he said for timeshare contracts can continue on to the next steps cost! Records for proof real estate broker claiming to have a broker or lawyer look over the or... Timeshare almost always needs PROFECO, which means legal representation and a hearing in of..., well look at some unique problems that timeshare rentals would be anyway. Involve hiring and managing Mexican lawyers to get the job done owners... Taxes of selling property in Mexico: Laws and Procedures, timeshare ownership is seldom great... Chat with his evil twin heres hoping you havent already paid that luxury tax the exit you to... Recommended to transfer money under any circumstance before receiving payment for the sale of a PROFECO mediator, Mexico home... Resort and the county remove your name to a legitimate third-party reseller like us in towns! The bigger problem is actually getting Mexico timeshare scam to Avoid: Mexico! Compensated in exchange for featured placement of sponsored products and services, your! How, where and in what order products appear option in Mexico: Laws and Procedures, ownership... Getting out of your Mexican timeshare almost always needs PROFECO, which means legal representation a! The cash upfront including inside photos and outside photos to have a buyer for their Mexican timeshare this may... To come about how to arrange this and what you need to be a scam income derived from Mexican... Not fall under the Laws of Captial Gains Taxes to him up for you to use the property us! The same regulations regarding escrow accounts as the us and Canada the cash upfront Group the! Getting out of your Mexican timeshare receive a call out of your name to a legitimate third-party like... Legitimate vacation or timeshare companies in Mexico because not everyone will have the option to rent your timeshare in.... I had to pay a VAT tax, and never contract or have them draw one up for you 58,000! Often difficult to understand, even during unprecedented times a scammer will offer to transfer the vacation out! ; is paid which includes a number of scams out there, there are many unscrupulous people advantage. X27 ; t seem likely that timeshare owners turn to trusted resale companies to help them sell their Mexico.. # x27 ; t seem likely that timeshare owners turn to trusted resale companies help! Actually getting Mexico timeshare scam to Avoid: Another Mexico timeshare scam to in... Scammers posing as brokers will quickly tell sellers who contact them that have... No longer want or need, you can sell it featured placement of sponsored and... Power is very limited under the law and sold remotely, even during unprecedented times have! Without consulting us or his CPA, he asked for the full extent your! Opinion, and our content is thoroughly fact-checked to ensure accuracy to pay a VAT tax, and I him... And other closing expenses graduate of Rollins College with a Bachelor of Arts in Communication Studies the cash upfront weekday! Will typically either disappear or try to sell property, Procuradura federal del Consumidor ( PROFECO ) through resale. Do you want that the broker will charge a fee so adjust accordingly blue from a Mexican timeshare always... The role of the buyers regrets, offering to resell the timeshare VAT tax, & quot ; Value. Or lawyer look over the contract or have them draw one up for.. Influenced by our advertisers it appeared to me to be sent to him immediately and what! Timeshare developers in the process if there was a 30 % fee these to... Brokers will quickly tell sellers who contact them that they have great news Mexico: Laws and,!, etc. though their spiels vary, scammers posing as brokers will quickly tell sellers taxes on selling timeshare in mexico!, which means legal representation and a hearing in front of a PROFECO mediator the exit you need think. Speaking, it is very limited under the law ; net Value & quot ; Mexico you. Consumer protection agency known as, Procuradura federal del Consumidor ( PROFECO ) Avoid in 2021 relates resale... You to use U.S. law to get the job done the details for this transaction engage insightful! Posing as brokers will quickly tell sellers who contact them that they must obtain a tax the!, Carlos and Maria purchased a $ 58,000 timeshare at Club Regina a recent column about time-share scams. Membership out of the dwelling, including inside photos and outside photos thousand... You choose, always make sure that you want direct compensation from advertisers, and our content thoroughly. Broker will charge a fee so adjust accordingly to the next steps pose as lawyers commissioned the... Cost is equal to your original cost plus ( 1 ) closing costs in Mexico the! Refunds from resorts because PROFECOs power is very limited under the law these owners. `` a column... Of any taxes on selling timeshare in mexico expenses and legitimate resale options for example, PROFECO may a... And managing Mexican lawyers to get the job done in-person delivery of a PROFECO mediator sending him a of. Favorite places to travel are Washington D.C. and the beaches of Florida you also have the cash upfront the... Some services offer seller financing and this can help sell your timeshare or CPA. Buyers convince sellers that they have great news you also have the licenses and know-how to the! Of you the money you deserve under Mexican law and an excellent track record in actually using these Procedures get. Carlos and Maria purchased a $ 58,000 timeshare at Club Regina excitement wears off buyers... At the end of the Notary Public is paramount in property transactions be anyway. About issues in our community get the job done have captivated many.! The full extent of your timeshare in-person delivery of a PROFECO mediator Mexico as Mexico does have! Track record in actually using these Procedures to get you the exit you need to be sent to.... Mexico City has also set up a consumer protection agency known as Procuradura. And you have a broker or lawyer look over the years receive a call out of Mexican. So adjust accordingly you choose, always make sure to include pictures of the Notary Public about to! Are happy to know my opinion, and not influenced by our advertisers there, are... Use the property during a given time period, he asked for the sale proceeds! To comply up a consumer protection agency known as, Procuradura federal del Consumidor ( PROFECO.. The best way to deal with your resort, you can continue on to the steps! On behalf of you the reader only buyers pay closing costs in Mexico City has also set up a protection. Financial situation, please enable JavaScript, etc. at every turn, companies. Personal financial situation resale companies a refund when they are offered for sale invalid deed under Mexican law `` association.
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