Selecting the notary public when buying in Mexico
Selecting the notary public when buying in Mexico should never be a topic of negotiation in an offer. Without question the buying side has the right to choose which notary public to use to finalize a purchase. The buyer is paying for this service as part of the closing costs of the transaction.
It has become a trend in recent years that the selling side wants to have a say on selecting the notary public when buying a property in Mexico
The selling side will claim that they have a specific strategy worked out with a certain notary public and that they have their own attorney lined up.
The buying could be offering more than full price for the property and still the selling will not agree to an offer unless the buying side signs off on using their selected notary public and attorney.
Of course many buyers do not care what notary public is used so long as they have an accepted offer to a property they want to own.
An attorney is always assigned by the notary public to supervise the entire closing process at no extra charge. The buying side pays for this.
All notary public are capable of working the same strategies
A good AMPI agent should be able to explain to the selling side all notary public would provide the same service needed. There is absolutely no way that one notary public would offer paying less for Capital Gains than another notary public. So, before putting a property on the market the selling side should get a quote as to how they would pay their taxes from one notary public. Then take that quote and present it to the notary public the selling side selected. Easy.
What happens is that the selling side gets a quote from a notary and really likes the service provided by the attorney that helped them get that quote. Now the selling side becomes attached to this notary public and attorney. And decide that they want to go through them. Claiming a right that does not belong to them.
The selling side realtor is at fault for not educating his/her clients
It is hard to get a listing in such competitive real estate market. When an agent gets a listing he/she agree to just about anything the seller wants. For example, they agree to a lesser commission. From the start the selling side agent plays along the idea that the seller can use any notary public they want. From the start the selling side realtor is saying that it is okay for the selling to pick where the buyer will pay for closing costs.
Buying side realtor should put up a fight
A good realtor should have a game plan to a successful closing. Behind the realtor should be a team ready step in and help.
The majority of the time the selling side realtor has an attorney ready to help in an operation as the closing coordinator. A closing coordinator/real estate attorney is supervised by the notary public selected. This helps the buying process because the buying realtor is familiar with this closing coordinator.
When the buying side agrees to go with an unfamiliar notary and unfamiliar attorney that does not use a closing coordinator as tool to smooth the process well, you can no longer guarantee a smooth operation.
In the end the important thing is to finalize an accepted offer successfully. There are always struggles, it is a stressful process for both sides. If the buyer agrees to use any notary public then it is the buying side realtor responsibility to carry this deal to the finish.
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