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Selling in Puerto Penasco/Rocky Point,Mexico 
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Owning in Puerto Penasco/Rocky Point, Mexico

10 Reasons Why Now's the Time to Buy

Puerto Penasco/Rocky Point

(And a brief description of the buying process)

1.  Prices are low, low, low.  Compare Penasco with San Diego, a particular unit here is asking nearly $200k, a similar unit in San Diego is asking nearly $800k.

2.  The International Airport is complete, but no commercial carriers have established routes here yet.  Once they do, it will bring more traffic.  Get in ahead of the crowd.

3.  The intercoastal highway is now complete.  We're only about 5 hours from San Diego.  With the high prices of California beachfront, and our enhanced proximity, there is bound to be an increase in demand.

4.   Location, location, location - we're only an hour from the US border (4 hrs from Phoenix or Tucson.

5.   Carnival Cruise Lines and Holland America have confirmed that they are planning to use Puerto Penasco as a destination port.  This will bring thousands of tourists to the area each year, stimulating business and growth.

6.  Despite the current economy, building continues.  Yes, some projects have had to be placed on hold, but many continue building.

7.  The environment is great.  We're on the ocean, yet our waters are warm and clear, we get only 2 inches of rain and enjoy 340 days of sunshine each year with no hurricanes or tsunamis.

8.  It's now possible to fly here.  Some major US carriers fly to Hermosillo and there is now a smaller airline flying from Hermosillo to Puerto Penasco.

9.  Affordable care.  Dental, medical and veteraniry care cost less.  For example a dental crown that costs at least $800 in the US, costs about $200 here.

10. Real estate agents are required to be trained and licensed, so you can proceed with confidence.

 And a bit about the process:

     Once you've found your property, you submit an offer, along with an earnest money deposit.  You do not need to be present to do this.  It can be done over the phone, FAX and wire.  The offer goes to the seller and the deposit goes into an in escrow account.  The seller may accept your offer, of counter with an offer of their own, to you, which you can accept or reject or you may decide to counter back.  Once both parties come to agreement, that is, there is an accepted offer, the next step is closing. 

     All parties come to closing, or you may designate a power of attorney.  It typically takes several weeks for titles to actually transfer, so often a private contract will be signed at closing, acknowledging intent to transfer of ownership and securing the buyer's claim on the property in the interim.  At this time, the deposit comes out of escrow and goes to the sellers as part of the down payment.  All other funds are transferred at this time as well, and you leave closing with the keys to your new property.