Buying in Mexico: Terms or Cash

[Dave Meyers]

Morning!

I am looking at buying a condo in Mexico as a U.S. Citizen. Most of the properties are cash whereas some offer terms.

My (complete nubie) question is this: if I take out a mortgage, doesn’t the lender pay the seller 100% right away?

What causes a seller to request all cash vs terms/mortgage?

[Alan Bostick]

Yea, time to close is the primary reason for requesting cash payment. If a buyer is offering cash that means there is no lending contingency which in turn reduces the risk that the seller is wasting their own time.