Regarding my last post about financing a home in Baja, I’d like to add this brief snippet about title insurance:
Should you choose to finance directly on your Mexican purchase, you may expect Title Insurance to be a mandatory requirement of the financial institution, just as it is in other countries.
Even if you are paying cash, it is an option to seriously consider. Independent of whether you wish to actually buy title insurance, we do believe you may want to seriously consider making “ELIGIBILITY FOR TITLE INSURANCE” a condition of any offer you make on any property. Then hire only a title insurance company approved attorney for your closing attorney, and do not proceed unless the title company of your choice, after reviewing the documentation, is willing to provide a letter of commitment to issue title insurance! Period! The title companies will provide you with a list of qualified attorneys, or then again, your real estate agent can do this as well.
