Where can I find pesos reliably?

That was one of the questions we often asked when my family first moved here. "Where can I find a safe and reliable ATM or currency exchange". So far the best method we have found is using ATM's located inside the grocery stores(Chedraui, Freskos, La Comer) along the transport corridor. These machines are frequently refilled and checked for security so rest assured. If you choose to use these machines make sure you decline the exchange rate. This will not cancel the transaction but instead it will charge you only the transaction fee and rely on your banks current rate to complete the exchange. We see an average ATM fee of 50-120 pesos, so if you see the fee is significantly higher consider finding a different machine. 

…

536 Views, 0 Comments

Read Full Post

What is a Fideicomiso?

Well, odds are you are already familiar with it! In simple terms it is a trust that allows foreigners to purchase land in Mexico. Continue reading this issue of Terry Insight and learn all about it!

As a foreigner you often hear about how buying a property in Mexico must be scary or difficult. Well thankfully we're here to tell you it's not. Thanks to a handy tool we call Fideicomiso or trust in english. Fideicomiso in Mexico is very similar to a U.S/Canada trust. It is set up with a bank in Mexico which acts as an administrator.

 

You as the property owner become the beneficiary of the trust enabling you to sell, buy, or improve the property as you desire. The fideicomiso also protects you from lawsuits seeking the…

847 Views, 0 Comments

Read Full Post