Baja is one of thirty one states in Mexico, which is located on the northernmost and westernmost area of Mexico, on the Baja Peninsula. It has a population of 3.1 million people and the region is large and growing. About 75%of the total population resides in the capital city of Mexico. Today, the properties of Baja has become a popular option as many people purchase homes of their choice and utilize this place as a destination for tourism. However, investing in property here is quite affordable.
So, if you want to buying a property in Baja, you can contact a Baja real estate agent. But before purchasing make sure to consider the two most important things like, a title insurance policy and a bank trust (fideicomiso).
- A title insurance policy – It is nothing but simply a contract between the purchaser and a title guarantor that protects the owner or lender against loss in case of dispute in the ownership of the property. There are many real estate companies that provide this policy while you purchase a property.
- A bank trust (fideicomiso) – It is a contract between the lender and the buyer of the property. Here the lender acts as a trustee for the buyer and they are under the legal obligation to follow the instructions of the purchaser pertaining to the property in question. The lender holds the actual title of the property but the buyer gets to enjoy all the privileges of ownership.
No doubt beside these two things there are many other things which are required, but with these two essential things, you will be protected against any risk. It is wise to take the help of a real estate agent in Baja who can assist you in purchasing a property in this region safely.
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