Loreto Real Estate
The agent, the home, and the process–A quick overview

Before you buy, investigate!

Before you buy Loreto real estate, take time to truly get to know the area. Many buyers find it helpful to use a process of elimination—visit several towns on the Baja California Peninsula, cross off those that don’t fit your lifestyle, and focus on the ones that do. What I love about Loreto, you may not—so exploring the peninsula first is essential.

Once you’ve found your potential paradise, it’s wise to rent for a few months. Staying during different seasons will give you a realistic sense of the climate, pace, and lifestyle. And remember: living like a local—not just a tourist—is the key to truly understanding what living in Loreto Mexico has to offer (and what it doesn’t).

Deciding to buy ~ The Real Estate Agent

From my personal and professional experience, real estate transactions in Loreto are similar to those in the U.S.—there’s an offer, negotiation, acceptance, and closing—but everything in between is quite different.

Buying a home in Loreto Baja California Sur is a major decision, and it’s important to have a trusted real estate agent in Loreto who brings both expertise and firsthand knowledge to guide you.

In Baja California Sur, real estate licensing became official in 2020 and now requires annual continuing education. The Federal Government has also introduced the CONOCER Competency Certificate, which I am proud to hold. I’ve been licensed in Loreto since 2020, in California since 1988, and I continue to stay current with both state and federal requirements so my clients feel confident every step of the way.

Here in Mexico, I work with Corcoran Baja Real Estate, a boutique brokerage based in Cabo San Lucas. We are not a large, impersonal agency—we are a carefully selected team of seasoned professionals who value knowledge, integrity, and personalized service.

With more than 33 years of experience as a licensed agent in California (DRE License #00988564) and many years of living in Loreto, I bring both practical expertise and local insight. A good agent does more than show homes for sale in Loreto Baja—they present the full picture, every available option, and give honest guidance about challenges or considerations. My goal is to help you understand the neighborhoods and opportunities in Loreto so you can make a decision that feels right for your lifestyle and your future.

The Purchase Deposit (Good Faith Deposit)

Once your offer is accepted on a property, a 10% good faith deposit—based on the agreed-upon purchase price—is required. These funds are typically held in trust or with an escrow holder, similar to the U.S. or Canada. Important: never make a deposit check out directly to an individual. Protect your funds by ensuring they are placed with a trusted third party.

Closing Costs in Loreto Real Estate

Buyer closing costs in Loreto real estate transactions are generally higher than in the U.S. or Canada, averaging 6–8% of the purchase price. These include both fixed and variable costs:

• Acquisition Tax (ISABI): A flat 2% of the purchase price (often the largest portion of costs)
• Notary fees
• Registration fees
• Appraisal fees

The seller, as in the U.S. and Canada, is responsible for real estate commissions, which can be upward of 10%. All closing costs are expressed in Mexican pesos.

The Role of the Notario

A Notario is a critical part of any real estate transaction in Mexico. They act as a neutral third party, and buyers customarily have the choice of which Notario to use (though your agent may recommend one they trust).

Their responsibilities include:

• Assembling all documents for a valid transfer of title
• Verifying the legal identity and authority of buyers and sellers
• Drafting the new trust (Fideicomiso) for foreign buyers purchasing property in Loreto Mexico
• Calculating, collecting, and paying transfer taxes and official fees
• Coordinating timing with the closing agent
• Retaining copies of all signed and supporting documents

In essence, a Notario plays a role similar to an escrow/title agent or attorney in the U.S. real estate system.

Timeline: From Start to Finish

The time needed to close varies depending on several factors. On average:

• Foreign buyers: 60–90 days (2–3 months)
• Mexican citizens: 30–60 days (1–2 months)

While the system has modernized, real estate in Baja California Sur can still feel a bit like the “wild west.” That’s why it’s essential to work with an experienced, reputable agent you trust to keep your best interests at the forefront.

The Goal

The ultimate purpose of buying property in Loreto Mexico—whether a vacation home, retirement retreat, oceanfront villa, or investment property—is to create years of enjoyment and memory-making in a place you can truly call your dream home south of the border.