Welcome! We are pleased you have the interest in obtaining Stewart Title Riviera Maya’s services. We look forward to working with you and assisting in any way possible with the closing of your transaction, so that you may begin to enjoy Riviera Maya as often as you wish.

There are several documents and steps involved to effectuate a proper closing, which are explained hereunder, and are offered to assure a smooth transaction. In consideration of the foregoing, the present letter is divided into the following sections:

Recorded Document Search

This service provides trustworthy information of the current legal standings of the property in question, providing you with valuable information in order for you to make fast decision on the purchase. The information provided, would be among others: Current Public Deeds Recorded, Name of current owner, the existence of Liens and/or Mortgages, among others.

In order to provide this service, please be so kind to follow these simple steps:

a.       Review, Fill and Sign the Recorded Document Search application form enclosed to this letter, and

b.      Return via fax or e-mail the Recorded Document Search application Form  accompanied by a  copy of property title, copy of your official Identification.

Escrow

Escrow is a fund administration agreement for a real estate transaction in charge of an impartial third party, who shall disburse such funds according to the instructions previously agreed by the parties and delivered in writing to the Escrow Agent.

In order to provide this service, please be so kind to follow these simple steps:

a.       Review, fill and sign the Escrow Agreement enclosed to this letter,

b.      Return via fax or e-mail the Escrow Agreement accompanied by copy of the official Identifications of the parties and the disbursement instruction letter referred to in the Escrow Agreement, and

c.       Deposit the amount to be held in Escrow in the account mentioned at the end of this letter.

Closing Coordination

The purpose of this service is to provide you with the necessary assistance to coordinate the closing of your real estate transaction, creating & reviewing any legal documents, bringing together the individuals involved in such transaction and guiding you through your purchase in México.

Moreover, we are able to assist you from beginning to end, providing pre, during and post closing assistance, until we deliver in your hands the Title by which you are recognized as the owner of the property in question.

In order to provide this service, please be so kind to follow these simple steps:

a.       Review, fill out and sign the Closing Coordination Application Form enclosed to this letter.

b.      Return via fax or e-mail the Closing Coordination Application Form accompanied by: i) Copy of your official Identification, ii) Copy of your proof of address and iii) Copy of the title to be transferred.

Title Insurance

Title Insurance is an agreement of indemnity protecting against losses or damages arising from a defect in title to real property, subject to the terms and conditions contained in the Insurance Policy. It’s important to mention, that the insurable amount is or will be the Purchase Price reflected in the deed by which the property is transferred.

In order to provide this service, please be so kind to follow these simple steps:

a.       Review, fill out and sign the Application Form for Title Insurance enclosed to this letter.

b.      Return via fax or e-mail the Application Form for Title Insurance accompanied by: i) Copy of your official Identification, and ii) Copy of the title to be transferred.

Once the above steps are fulfilled, STRM will begin with Title Research. At the completion of the same, a Title Commitment Letter will be issued, preliminary document to the issuance of the policy, in which the beneficiary of the Insurance Policy is informed of the terms, conditions and, if applicable, exceptions that such document will contain.

Finally, once STRM receives: i) Transfer deed duly recorded in the Public Registry, ii) Premium of the Title Insurance Policy and iii) Certificate of No Liens, stating the name of the new property owner, the correspondent policy will be issued.

Mortgage Services

Stewart Title has entered into agreements with worldwide known financial institutions. Therefore STRM is in the position of coordinating the obtainment of financing for American, Canadian and British residents wishing to buy a second home in Mexico, at similar interest rates to the ones offered in the U.S. Please let us know if you require additional information in this regard.

Fees

The fee to be paid in virtue of granting the above mentioned services will be calculated based on the purchase price of the real estate transaction, and shall be paid in the following manner:

1.      A down payment, that will be destined by STRM to cover Title Research expenses, creation and revision of legal documents, therefore such amount is non refundable and,

2.      The balance, at the closing of the real estate transaction.

In addition, any payment or deposit must to be made in the following account:

Comerica Bank

2015 Manhattan Beach Blvd.

Redondo Beach, CA 90278-1205

Federal Routing Number: 111000753

SWIFT: MNBDUS33

Account Name: Stewart Title Riviera Maya

Account Number: 1881066854

In order to verify any deposits, we kindly request that you deliver wire transfer confirmations.