"Her own slice of paradise"
An American recounts her Mexico home buying experience

From her bustling office in Fort Worth, Texas, mortgage banker, Kami Graves recalls with nostalgia the pleasure of seeing her favorite vacation spot, Playa del Carmen, grow up.  “We were visiting there when it was still all dirt roads,” she says, “we’ve been going down there for at least ten years.  We love it; and it’s so easy to get to.”  After numerous visits, she decided to buy a place about four years ago.  “We bought on 5th Avenue,” she recalls, at which time it was not as busy as it has now become.  “After having that place for awhile, we decided we wanted to be closer to the beach,” says Graves.  So last year she decided to buy a home in the up-and-coming Puerto Aventuras area.
Being in the mortgage business herself, Graves decided to ask around to see if anyone was offering mortgages for Americans buying vacation homes in Mexico.  After hearing about the Colonial National Mortgage international lending program from a mutual colleague, she contacted Suter DuBose, Vice President of International Lending for Colonial National Mortgage and began the process of getting pre-qualified and applying for a Mexico mortgage.  “The process (of getting a mortgage) is different in Mexico,” Graves says, “but it was not as bad as I anticipated.”  At the outset, DuBose was honest with her and told her that the process was relatively new and that it would take longer than buying a home in the U.S.  “So many aspects are different (than in the U.S.) such as timing, escrow, and the SRE permit” says Graves.

 
The average closing time takes about sixty days, to be on the safe side, and there are additional steps that differ from a loan closing in the U.S. such as transfer of the fideicomiso (the bank trust) and receipt of the SRE permit (the government permit to allow a foreign national to own property).  Escrow works differently as well in that the buyer must pay for items such as the appraisal and notario fees upfront by placing the funds in an escrow account from which the appraiser and notario are paid.
“Suter was great,” says Graves, “he and his staff were very helpful and thorough; they kept me updated every step of the way.  By the time it was finished I actually enjoyed the process, I learned a lot about buying property in Mexico.”
Colonial National Mortgage continues to work with American clients buying property in Mexico and has seen great success.  As time has gone on, not only has the process become smoother but also the bank now offers new mortgage options such as 30-year fixed rate mortgages and cash-out refinances.  Call Colonial for more information at 001-888-901-5363 from Mexico; or 888-901-5363 in the U.S.; or visit us online at www.MexicoResortLoans.com.

Podcasts are back on the Riviera Maya Real Estate News website.  Each and every week we will be covering topics related to real estate and real estate news as it pertains to Mexico and more specifically Cancun and the Riviera Maya.

This week the special guest was Laura Zapata, the current AMPI president for the Riviera Maya and owner/broker of Seaview Properties in Playa Del Carmen.  Laura discusses what the organization of AMPI professionals is and how it helps both potential buyers in this market as well as real estate agents.  She also goes on to explain the importance and value that AMPI brings to the market right now and how people can get involved.  Topics of discussion in this interview also included ways that everyone can heighten their level of awareness to align themselves with other professionals focused on business ethics, accountability and maintaining integrity among agents.

You can listen or download the entire 12 minute interview here by going to this page then click "listen now" and select the top interview called "AMPI and the Riviera Maya." 

Vistas International Mexico introduces La Amada, a luxury residential development with a marina, golf course, private beach, hotel and spa in Playa Mujeres on the Mexican Caribbean.

Miami, FL (PRWEB) June 8, 2007 -- Imagine more than two miles of white sand and crystal blue water beaches, a sea of colorful coral reefs, and acres of wildlife sanctuaries. Surrounding this tranquil setting are luxurious residences, a mega-yacht marina and two Greg Norman golf courses, only hours from your doorstep. This destination is certain to be the place one falls in love with, which is just how this heaven on earth earned its name - La Amada, or "the loved one."    

The waters adjacent to Mexico's Yucatan Peninsula offer seven shades of blue, one for every day of the week. La Amada, a new development located seven miles north of Cancun, provides a way to experience these waters as never before. The 500-acre luxury development includes a boutique hotel, upscale residences, golf course, yacht, and beach club, and Cancun's first marina situated on tranquil Playa Mujeres in the Mexican Caribbean. Envisioned as an exquisitely and carefully developed sustainable community, La Amada is a destination where culture, ecology, history and art are integrated in a stimulating style.

Promising the finest in amenities, residences and guests of La Amada will enjoy the breathtaking setting while sailing, golfing, or riding horseback along the water's edge. The project's master broker, Enrique Felgueres, president & CEO of Vistas International Mexico describes the property as, "The most luxurious project in the Mexican Caribbean. Located just 10 minutes north of Cancun, Playa Mujeres is a unique beachfront gated community with all the amenities that a sophisticated buyer can expect."

Vistas International Mexico is a Miami-based real estate company focused on residential projects in Mexican resort destinations. The company has designed a unique business model to satisfy the needs of the growing United States market interested in acquiring property in Mexico.
La Amada, located in the Marina section of the Playa Mujeres master planned community, is a 550-unit project one, two and three bedroom residences, a 100-room five-star boutique hotel, and a luxury spa. In addition, Grupo Excellence, the developers of the project, created a "marina village" with 150,000 feet of commercial space for restaurants, bars, cafes and shops, creating an ambiance akin to top European resorts such as Puerto Banus and St. Tropez. No expense was spared on this spectacular creation; residences can even fly in and land on the property's private helicopter pad.

La Amada - The promise of sophisticated homes and the perfection of the art of luxury living.

For more information, visit www.laamada.com or call Vistas International at 1-888-373-6001
For Media Inquiries Contact: Becky Manuel, VP Marketing & Public Relations 305.856.1981 | X314

Excellence is rare enough. Excellence that is also original and forward thinking is very rare. Thanks to the vision and persistence of one man and the gifted designers, engineers, biologists, hoteliers and business people he inspired, Mayakoba falls into the very rare category.

Mayakoba began with a few unlikely twists of fate. OHL acquired its first piece of land on the Riviera Maya in the late 1980s. At the time, OHL was purely a construction company, and the coastline south of Cancun was undeveloped. During the 90s, OHL began diversifying its operations just as the sleepy fishing village of Playa del Carmen and the area around it came alive as a tourist destination. Still, OHL was not interested in developing their land. In 1995, they ordered Salvador Linares, their General Manager, New Developments, “Go to the site, and find a buyer.” To his surprise, Linares took one look at the blue of the sky and the sea and the green depths of the mangrove forest, and fell in love.