A: First and foremost, you must read and agree to the User Agreement and conditions of sale through the Invitational. Then, if you wish to participate you must comply with the following:

• Be the legal, rightful owner of the property in question.
• Agree to execute the private contract to participate with all terms and conditions of the Invitational.
• Provide all necessary legal documentation concerning your property, including, but not limited to the title/escritura, condominium regime, financial statements of the condo complex, property tax statement, personal I.D.s, and other documents as requested.
• You must agree to the fee structure as outlined in the private contract.
• You must agree to sell your property at the Reserve Bid in the event that is the highest bid offered.
• And any other terms and conditions as outlined in the private contract, the User Agreement herein, and/or any other terms and conditions that may be required from time to time.

A: Yes, absolutely! However, your participation is not automatic. Given the unique nature of the Invitational, an addendum to your list agreement with the specific terms and conditions of the Invitational must be agreed to and executed by you. To enroll, simply contact your Tropicasa agent today.

A: Tropicasa Realty will be in charge of coordinating all aspects of the closing process, from contract preparation, opening of escrow, and all coordination through a local Notario to ensure your full protection.

A: The closing of the sale will be done just like any regular closing here in Mexico so Your your capital gains taxes will depend on the sales price of the property and you will be responsible for everything that is normal for any Seller. Each situation is different and must be analyzed by the Notario Publico. If the reduction in price that you are proposing for your Reserve Bid reduces or eliminates capital gains, then the relatedrelated capital gains tax would notmay be applicable. However, if there is gain and you are not partially or totally exempt under the law, you will still have a tax obligation to pay at closing. Ask your Tropicasa representative for an estimated tax calculation based on your Reserve Bid for clarification.

A: Yes. Each property will have its own individual purchase contract as usual. A PDF sample of that contract is referenced here so that you may review it ahead of time. [PDF sample of purchase contract here]

A: Yes, with conditions. The Exclusive Listing Agreement that you executed with your listing agent allows them to cooperate with other brokers in selling your property. That includes, WITH THEIR PERMISSION, the ability to have your property marketed through another agency without violating your present listing agreement. However, your listing agent MUST SPECIFICALLY GRANT PERMISSION for another agency to market your property in any way, shape or form. Therefore, in order to participate, you must discuss this with your listing agent and get their permission. Assuming they agree, an addendum to your listing agreement would need to be executed between you, your listing agent, and Tropicasa Realty. Please have your listing agent contact Tropicasa Realty to discuss this marketing option.

A: Yes. If your item is active and has no bids, you can change a number of fields. If your item is active and has at least one bid, all you can do is make description additions.  To make any of these modifications, please contact your Tropicasa Realty representative.

A: If your item has no bids against it, you can inactivate or delete the item. If you wish to end your auction, please contact your Tropicasa Realty representative.

A: Use your My Area Page to track the status of items you are bidding on and items you have placed for bid. Email notifications will also be sent to the highest bidder of each auction.

A: For Buyers: There are no costs for buyers to participate. Registration is all that is required. However, bidding requires that the buyer perform on the bid if the buyer is the high bidder.  By registering and participating in this event, you are agreeing to enter into a binding contract for the purchase of a particular property if you are the successful high bidder.  For Sellers:  All sellers are required to execute a separate agreement from the standard listing agreement to participate in the Investor Invitational series.  If you are a seller and wish to participate, please contact Tropicasa Realty at 011-52-322-222-6505 or at our e-mail at investorinvitational@tropicasa.com.

A: In order to sell a property on the Investor Invitational series, please contact your local Tropicasa Realty representative at 011-52-322-222-6505 or through our e-mail at investorinvitational@tropicasa.com.

A: Yes. Simply advise your Tropicasa Realty representative you wish to continue marketing your property through the Investor Invitational series prior to the expiration of your auction item and it will be extended.

A: When auctions complete and you finish all feedback for that auction, you can move an item to your My Archive area. This moves the item off your My Auctions page so it is less cluttered with old auctions. From the My Archive area, you can review old item information, un-archive old items so you can re-offer or offer similar, or you can permanently delete the item from your system.

A: A seller can set a reserve price for an item.  The reserve price is the minimum amount the seller will accept for the item.  If the reserve price is not met, the seller is not required to sell the item.  The reserve price is hidden from all bidders. However, the seller may also choose to sell the property at the highest bid even if the reserve is not met or enter negotiations with any or all bidders to achieve the highest price, even if it is less than the reserve price.  This can only happen AFTER the expiration of the auction for that property.

A: Proxy bidding means a bidder can enter a maximum bid amount and the auction will automatically bid in their absence, executing their bid for them and trying to keep the bid price as low as possible. This is nice because it means a bidder doesn't have to be at the auction every minute to make sure they are not outbid. When you are the highest bidder and you have been out-bid by another user, you will receive an email notification so that you have a chance to re-enter a new bid amount.

A: Use your My Area page to track the status of your bids.  You will also get email notification when an auction expires and any reserve price has been met.

A: Use your My Area page to track the status of your bids.  You will also get email notification when an auction expires and any reserve price has been met.

A: Not usually. While we do have relationships with banks and may have, from time to time, properties that are foreclosures or REOs in the Invitational, most properties are privately owned and have a strong need to sell as quickly as possible for a variety of reasons, not always financially.

A: Absolutely! In fact, we not only recommend it, we have made arrangements with a travel agency operator to provide additional incentives for you as a member of the Invitational program. By contacting this travel operator directly, you will receive special discounts ONLY available to you through this program. We have done this in order to offer you the opportunity to come down personally and visit the properties that you have an interest in bidding on. However, previewing a property is not a requirement of bidding or purchasing through this media.

A: Yes. We always recommend for the client’s protection, satisfaction and comfort, that you have a property inspected by a professional. This can take place at any time prior to the auction ending and/or the Reserve Bid being met. HOWEVER, BE AWARE that at the time that the Reserve Bid is met and/or you are the successful bidder, NO CONTINGENCIES will be allowed in the purchase contract, unless otherwise agreed to in advance by the seller of the property. ALL SALES THROUGH THIS EVENT ARE FINAL AND NO CONTINGENCIES ARE ACCEPTED, unless by previous agreement with the seller.

A: Of course. In fact, since most everything is in Spanish, you may wish to hire a private attorney or other representative to review these documents on your behalf. All documents should be reviewed PRIOR TO YOUR BIDDING on a property. While we have taken the necessary steps to attempt to ensure your safety in all transactions, THE DUE DILIGENCE OF A PROPERTY IS YOUR RESPONSIBILITY. As in property inspections or other due diligence, the review of these types of documents will not be considered as contingencies, unless otherwise agreed to by the seller, as ALL SALES THROUGH THIS EVENT ARE FINAL.

A: Financing is available in Mexico for residential properties and some commercial properties as well. Securing the financing, and/or being prequalified or preapproved PRIOR TO the bidding is recommended. Note that financing cannot be a contingency of the purchase of the property, unless otherwise agreed to in writing by the seller, as ALL SALES THROUGH THIS EVENT ARE FINAL. Therefore, if you enter into a bid and are unable to secure financing, you will still be obligated to purchase the property under the terms and conditions of the Invitational.

A: Not necessarily. Assuming there is more than one bidder on the same property and the Reserve Bid is met, if the other bidder raises that bid, the auction will continue until such time as the stated auction expiration occurs. Of course, this also means that the bidder to achieve the Reserve Bid may also end up being the high bidder in the event the other bidder stops at that time.

A: The auction automatically terminates at its stated expiration. However, in the event of bids that did not meet the Reserve Bid, the seller can choose to contact any and/or all bidders to begin negotiations outside of the Invitational to attempt to achieve a sale. So even if you are not the high bidder or achieve the Reserve Bid, you may still be able to purchase that property. But there is no obligation to do so unless you have met the Reserve Bid.

A: You will be required to execute a purchase contract between you and the seller. A sample of this contract is provided for your review here: [insert PDF purchase contract] Upon execution of that contract, you will need to deposit an earnest money deposit in the amount of 10% of the purchase price of the property, unless otherwise stated or agreed. This deposit will be made with a third-party escrow company, typically First American Title. An escrow agreement stating the terms and conditions of the escrow will also need to be executed, a draft copy of which is also provided here for your review [insert PDF Escrow Agreement]. Additional documentation, such as I.D., passport, a deposit of $3,000 U.S.D. for the Notario to begin his documentational processing, and other items as needed will be required at that time. All documentation will be coordinated through Tropicasa and the closing process should take approximately 45 days to complete. See below for further information on closing schedules.

A: You will have a Tropicasa Realty representative assigned to you for each step of the transaction. You will be able to contact that party via telephone, e-mail, fax, or live conversation to respond to any of your concerns or questions. Our goal is to help you purchase your new home in Puerto Vallarta with as much ease as possible.

A: Closing costs vary for each property. Typically, closing costs will run between 4-6% of the purchase price. However, for lesser valued properties, these percentages can escalate to as much as 10% due to the fixed value of certain of the costs and documentation involved. Considerably higher valued properties can also be lower overall percentage costs. You should ask your Tropicasa representative to prepare an estimated closing costs analysis for you once you have located the property you wish to bid on for a clear idea of what you will be obligated to pay for these costs.

A: Transaction time will vary on the property and the agreement of the parties involved, but most transactions can be closed within 45-60 days maximum. Transactions involving loans will need approximately 90 days to be able to fund and close properly. Any requirements outside of these guidelines should be discussed in advance with your Tropicasa representative to make sure that the seller will agree to the modified terms prior to bidding.

A: Click here to access the register page!

A: Currently, you must contact Tropicasa Realty to change your user name or password.

A: Currently, you must contact Tropicasa Realty to change this information.

A: Use the Feedback page in the navigation.

A: Our pages are updated every time you view the page. If there is any doubt, click your refresh button in your browser.  Also, your My Area bid and sell pages refresh automatically -- see the yellow help on those pages for more information.