Thinking about owning a home in Mexico? San Miguel de Allende is one of the easiest and most rewarding places for U.S. citizens to buy property—thanks to its legal structure, vibrant expat community, and familiar buying process.

Here’s a straightforward guide to how Americans can purchase real estate in San Miguel de Allende:

1. You Can Own Property Outright

Unlike Mexico’s coastal and border regions (where foreigners must use a bank trust, or fideicomiso), San Miguel de Allende allows full fee simple ownership. That means your name is on the deed—just like in the U.S.

2. The Buying Process is Similar to the U.S.

Here’s how it works:

• Find a licensed real estate agent.
  • In San Miguel de Allende, real estate agents should be licensed by the state of Guanajuato. While AMPI (Asociación Mexicana de Profesionales Inmobiliarios) is a respected industry association, it is not a legal licensing body—so ensure your agent holds a valid state license and, ideally, is also an AMPI member for added professionalism.
• Research neighborhoods and shortlist properties.
• Submit an offer and negotiate—just like you would stateside.
• Once accepted, a formal sales contract (Promesa de Compraventa) is drafted.
• Conduct an inspection before funding escrow (you typically have 10 business days but depends on negotiations and contract terms).
• Deposit 10% of the purchase price as earnest money.
• Apply for a foreign buyer permit.
  • This refers to the SRE permit (Secretaría de Relaciones Exteriores), and it is required even outside the Restricted Zone, but it’s indeed a routine “rubber stamp” process.
• Close at a notary’s office (the equivalent of a title company + closing attorney).

The whole process usually takes 30–45 days (often quicker due to fewer mortgages).

3. What Are the Costs?

Expect about 5.1% in total closing costs, which covers:

• 4% acquisition tax (varies by municipality across Mexico)
• 1.1% notary and municipal fees
• Plus a few small extras:
  • SRE foreign buyer permit (~$500 USD)
  • Escrow fee (split with seller, ~$200–$300 each)
  • Optional: Power of attorney if you can’t attend closing

4. Why San Miguel Is So Popular

• Only 2-hour flights from Texas hubs like Dallas or Houston
• Historic charm with a European feel
• Comfortable, dry high-altitude climate (no bugs, no humidity!)
• Walkable lifestyle, vibrant culture, and over 75 festivals a year
• Solid long-term real estate value—especially near the town center

Final Tip:

San Miguel’s real estate system isn’t as digitized as in the U.S.—there’s no Zillow or MLS history. So, working with a knowledgeable, licensed agent is crucial. They’ll guide you through the process, help you avoid scams, and connect you with trusted inspectors, notaries, and legal experts.

Contact Laura to be connected with an International agent!