Yes. Foreigners can legally buy property in Mexico, including homes, condominiums, land, and investment properties in Los Cabos and other coastal areas. In the restricted zone, foreign buyers typically acquire property through a Mexican bank trust (fideicomiso), which provides full ownership rights while complying with the Mexican law.

A fideicomiso is a Mexican bank trust that allows foreigners to safely purchase property within Mexico’s restricted zone, including Los Cabos. The bank holds title as trustee on behalf of the buyer, while the foreign purchaser maintains full ownership rights, including the right to sell, lease, remodel, inherit, or transfer the property.

Escrow is not legally required in every real estate transaction in Mexico; however, it is strongly recommended for foreign buyers seeking additional security during the closing process. Escrow helps protect funds by ensuring money is only released once contractual obligations, due diligence, and closing conditions have been properly satisfied.

The timeline for a real estate closing in Mexico depends on factors such as due diligence, escrow arrangements, bank trust requirements, financing, permits, and the notarial process. In many transactions, the closing process may take approximately 45 to 60 days, although certain properties or more complex transactions may require additional time.