FAQ

How do I get to the Viewpoint at Puerto Angel ?

The modern Huatulco International Airport is a short 35km drive from the Viewpoint at Puerto Angel. Regular flights service the airport, from destinations across Canada, the United States and three daily flights from Mexico City. The accessibility of Viewpoint to North America’s cold-weather centers is one of the main reasons the Viewpoint team is so excited to present this opportunity to Canadian and American resort destination buyers.

Calgarians in particular are well-positioned to take advantage of Viewpoint: three charters fly direct weekly from Calgary to Huatulco, and daily direct flights through Houston makes for an easy connection. Also, beginning June 9th, 2008 Mexicana Airlines flies direct from Calgary to Mexico City. From here it is a short 45 minute flight to Huatulco.

Can I rent my condo?

Yes, you can rent your condo when you are away. Viewpoint will help connect you with a rental pool in order to help offset costs and generate revenue.

How far is Viewpoint from the airport?

Viewpoint is approximately 35km by car to the Huatulco International Airport. Car rentals are available at the airport, and taxis are plentiful in the Huatulco region.

Are there hospital, doctors and dentists?

Yes there are two hospitals and lots of general practitioners and dentists to choose from.

Are there hurricanes in Puerto Angel?

Rarely, since hurricanes develop in the ocean and travel in an east-to-west direction. Since we are located on the west coast, hurricanes tend to move away from us rather than toward.

Is there a rainy season in Huatulco?

There is normally only 40 to 50 days with rain in a year and they tend to fall during the months of June to October. This region has the most sun days of any other in Mexico.

Can I will the property to my children?

With a Mexican Trust Agreement (Fideicomiso) you may have the ability to appoint future beneficiaries or even appoint heirs (sub-beneficiaries) of the property.

Can foreigners buy land in Mexico?:

Mexico’s real estate ownership laws have never been more welcoming to foreigners who have been attracted by this country’s exquisite geography, warm climate, reasonable cost of living, relaxed lifestyle, and overall quality of life. Yet still, there are significant differences between buying real estate in Mexico and buying real estate in the United States or Canada. For the traveler interested in buying property in Mexico, it’s important to know how foreign ownership works, what the buying process involves, what’s available, and what the prices are like.

Since 1973 foreigners (non-Mexicans) have been able to purchase coastal and border properties if done through a Mexican bank trust, known as a Fideicomiso. Essentially, it is like a Trust in the United States -the bank holds the legal title to the property with all rights and privileges of ownership, including exclusive use and enjoyment held by the Trust beneficiary-the foreigner.
The foreign beneficiary enjoys the right to occupy or rent the property, and may cause the transfer of title or beneficiary transfer to the property to any legally qualified person he may designate. Beneficiaries are also allowed to modify their property in accordance with local zoning regulations.

These Trusts have an initial term of 50 years. They are generally renewable at any time or at the end of the 50-year period for a relatively small fee for additional 50-year periods. The property may also be sold to a person legally authorized to own land or to another foreigner via a Trust, at any time, with the foreign buyer capturing the amount of the appreciation of the property value. This process is designed to protect the rights of foreigners and ensure the transactions are legal.

How are these Trusts created?

To establish a real estate Trust, (fideicomiso), banks will charge a predetermined fee, plus a percentage of the property’s value, to cover the costs of preliminary studies and the drafting of the Trust agreement. The bank also charges an annual fee for maintaining the Trust, roughly averaging $500 per year, providing there is no financing involved.

The Trusts are carried as off balance sheet assets by the banks who act as trustees. The Mexican Government specifically set the trust system up to allow non-nationals the security of ownership without having to change their 1917 constitution.

Are there differences in other aspects of property ownership in Mexico?

Closing costs to the buyer tend to be roughly 2 to 4 times higher in Mexico than they are in the U.S. or Canada, averaging 4 to 6 percent of the purchase price. Closing will take from 30 to 60 days depending on contingencies and financing requirements. The buyer and seller need not be present at closing, but may be represented by their sales agent via a power of attorney. Notaries are the agents of record for all transactions registered in the Land Registry Office.

What about the availability of insurance on the transaction (title insurance), as well as the property itself?

To date, there are no home inspection agencies nor home warranty policies available in Mexico, however in recent years, title insurance has been available on property that is fee simple land held in a trust. Beginning in 1996, Stewart Title Guaranty Company began underwriting title insurance for Mexican properties at an approximate cost of 1% of the insured amount. This premium has been declining in recent years. Other types of insurance, including property, liability, damage, and earthquake, are all readily available in Mexico, at low cost, and policies can be written to pay claims in Canadian dollars.

What are the associated taxes?

For the buyer, the subject of real estate taxes generally comes as good news, where real estate taxes tend to be low. Known as ‘Predial’, the tax is calculated as a percentage of the assessed value, paid every bimester, determined at the time of sale. Property taxes have historically been low in Mexico because they have never been considered a source of governmental revenue.