Frequently Asked Questions about Descanso

Can I rent, sell, deed, and or lease my property?
The bank becomes the legal owner of the property for the exclusive use of the buyer/beneficiary who has all the benefits of a direct owner, including the possibility of leasing or transferring his/her rights to the property to a third party or to a pre-appointed heir.

Can I finance?
Financing is available for anyone who is a Mexican national thru Mexican Banks. Financing for foreign nationals will is readily available thru well known U.S. Banks and Lenders.

Do I have to pay property taxes?
As in the states property tax laws apply. Property taxes rates are approximately .06% of the total purchase price of the home.

Can I purchase home owners insurance?
A typical homeowner's insurance policy will cover fire, liability, earthquake, flood etc. Insurance is made available by well known Mexican and American companies.

How much will closing costs be?
Total closing costs are estimated to be 5% of the total price of your home. This includes the real estate acquisition tax, notary fees, appraisal fees and registry.

Will there be there a home owners association?
Yes, the association will follow the same guidelines and have the same high standard of property management that Americans are used to and all home buyers will be subject to home owner’s association rules and fees.

How much will the association fess be?
Association fees will be anywhere from $80.00 to $100.00 dollars a month, which will include landscape and maintenance for all common areas, 24 hour security and garbage removal. All other inquires will be subject to H.O.A. approval by the association.

What about water, light, and other utilities?
Water is provided by La Mision aqueduct, which provides services to both Ensenada and Rosarito. All utilities will be underground.

Are there many Americans living in Mexico?
Recent reports reflect that Rosarito and its outlying areas boast a 70% population of Americans.