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The Purchase Agreement

In case you've never seen a purchase agreement before, I've reproduced one below that is pretty standard for Mazatlan. I've translated it into English, but the official one will of course be in Spanish.


Purchase Agreement

Purchase agreement entered between Mr. Hernan Cortes henceforth called the seller and Mr. Christopher Columbus and Felipa Perestrello Columbus henceforth called the buyers. The object of the this transaction is the house located at 1 Pennsylvania Avenue at the El Cid development in Mazatlan, Sinaloa, Mexico. Both parties agree to celebrate this agreement according to the following:

Declarations

Seller Declares

  1. To be a Mexican citizen, of legal age, married, with address 1 Pennsylvania Avenue, El Cid, Mazatlan, Sinaloa, Mexico.

  2. To be the legal owner of the property above described according to deed number 65,536 Volume LXIV, dated June 15, 1994, in the notorial records of Lawyer Perry Mason and registered in the property registry number 128, Book 256, Part II, dated June 16, 1994.

    Said property has the following description: 3 bedrooms, 2 and one half bathrooms, living room, dining room, kitchen, terrace, common area, swiming pool, 2 parking spaces.

  3. He wishes to sell the property object of this agreement to the buyers.

Buyers Declare

  1. To be United States citizens of legal age, married, with address 77 Sunset Strip, Los Angeles, California, and local address Hotel Playa Mazatlan, Room 1002, Mazatlan, Sinaloa.

  2. They wish to acquire the property object of this agreement.

Both parties agree to celebrate this agreement according to the following:

Clauses

First - Both parties agree that the total price for this transaction is the amount of $41,000 (Forty one thousand dollars and 00/100 U.S.C.Y.) and will be paid as follows:

  1. The amount of $1,000 DLLS. (One thousand dollars and 00/100 U.S.C.Y.) will be paid once this contract has been signed by both parties.

  2. The amount of $4,000 DLLS. (Four thousand dollars and 00/100 U.S.C.Y.) will be paid 15 working days from this date.

  3. The balance of $36,000 DLLS. (Thirty six thousand dollars and 00/100 U.S.C.Y.) will be paid on the closing on August 16, 1999

Second - Both parties agree that the property will be transferred free of all liens, burdens, and encumbrances, and current in all municipal, federal, state taxes, as well as in maintenance fees. Any dues or fees which are paid on a yearly basis will be prorated on the day of closing.

Third - The seller will be responsible to pay the capital gains tax, if any, and real estate commissions.

Fourth - The buyers will be responsible to pay all closing costs.

Fifth - Property will be deeded to Mr. Christopher Columbus and Felipa Perestrello Columbus or to whomever they designate.

Sixth - This transaction is to include 5 fans, 3 air conditioners, stove, curtains, light fixtures, hot water heater, water tank, pump, telephone line, and gas tank. All other furnishings, decorations, and personal items are not included.

Seventh - Both parties agree that the earnest money paid is non refundable unless the seller is unable to transfer the property to the buyers.


Well, that is about all there is to it. Everybody signs each page of the agreement in full, the buyers pick a notary to complete the tranasaction, cough up the money and move in. Simple, isn't it?

Are you ready?

If you're getting serious about buying a place, do yourself and your real estate agent a favor and fill out the following form. Make several copies so that you can give it to whatever agents you decide to work with. It will help them find the kind of property that is suitable for your needs. Also be sure to register with our online database as a potential buyer, and check out the properties that we currently have online, or have a look at our opinion of the various neighborhoods that Mazatlan has to offer.
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Name

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Permanent Address               State/Provence      Country
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Email Address

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Local address or Hotel  Room number Arrival Date  Departure Date
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Referred by

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How many times have you been to Mazatlan _____________

What kind of property would you like to look for?

House__ Condo__  Lot__  Other__   Price Range___________________

Have you seen some properties for sale in Mazatlan?  No___

Yes__,  Where?__________________________________________________

Name of Realtor_________________________________________________

Do you have any friends who have property here?  Yes__  No__

Do you need financing?  Yes__  No__

Do you plan to rent your property?  Yes__  No__

Do you expect to have frequent guests visiting?  Yes__  No__

Do you have children?  Yes__  How many? ______   No__

Do you have pets?  Yes__  No__

Do you have any special needs?  Yes__  No__

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What sports or hobbies do you like?

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