Do you have questions about purchasing a property from Selva Escondida? Here are the answers to the most common questions we hear.
What are the property options?
- Kaana – delivery in September and October 2022
- Luum – delivery in October and November 2022
- Palmas – estimated completion date of December 2022
- Naay – estimated completion March 2023
*Check with any Selva Escondida sales agent for current pricing and availability.
What is included in the price?
Selva Escondida Condos:
- 710 sq. ft. two-bedroom, one-bath living space
- White painted walls
- Tiled flooring
- Plumbing (including plumbing for wall AC units) and electrical
- Water holding tank on the roof
- Propane gas tank with line (for cooking)
- Sliding glass door for first-floor condos, exterior door
- Interior doors on bedrooms and bathroom
- Five finished windows
- Breakfast bar
- Kitchen sink
- Bathroom sink, tiled shower
- Utility room off kitchen with washer hookup
- Kitchen and dining area: Three ceiling lights, five outlets, three light switches
- Bathroom: One light switch/outlet, one ceiling light, one vanity light fixture
- Bedrooms: Two outlets, one light switch, one ceiling light
*Naay, Palmas, Luum, and Kaana include a standard kitchen!
Selva Escondida Townhouses:
- 668 sq. ft. land, including natural earth backyard area
- Tiled front porch area and palapa covering
- Concrete driveway
- Garden hose spigot
- 610 sq. ft. two-bedroom, one-bath living space without utility room
*All other specifications are the same as the condos
Do you offer different floor plans or modifications?
With four different floor plans for sale, we’re sure you’ll find one to suit your needs. Selva Escondida does not provide modifications from what you see in the renderings.
Can I make modifications?
Yes. Our condos are highly customizable. Once you have paid in full and have your keys, you are free to create your dream living space. Labor is relatively inexpensive here.
*Some modifications may need approval from the HOA.
Do you offer financing options?
We work with trusted financial partners here in Mexico and can work with you to find the best financing option. Most foreign real estate investments are cash purchases. Some people also get a personal loan in their home country or utilize assets to purchase a home or condo in Mexico.
Our payment options:
- One payment. If you choose this option, you must pay the property’s total purchase price within eight days. Depending on the completion date of the condo or home, this may qualify you for a discount. Be sure to ask your sales agent to see if a discount applies.
- Interest-free monthly payment plan. Monthly payments, with the last payment made on or before completion.
*Subject to availability and eligibility.
- 10% down, with no payments until completion.
*Subject to availability and eligibility.
*This option may incur an additional administrative fee of 10% on the purchase price.
How do I reserve a property?
You can place an 8-day hold of 20,000 MXN on our website! If you cancel after the 7th day, you will forfeit the hold. You will get a full refund if you cancel before the 7th day.
A 10% deposit (less the hold) of the total home price is required to begin the contract and purchase order process. If you cancel the signed contract and purchase order, there is a 10% penalty on the total amount of the house.
What are the closing costs?
Selva Escondida can provide a Notaria, or a lawyer, for all closing costs. The Notaria charges approximately 8% of the total contract purchase price of the home. You can hire your own Notaria at your discretion.
If you are a foreigner, you need a bank trust (fideicomiso) to own property in Mexico. It costs around USD 2200 to set up. Our lawyer can handle this process, or you may hire your own. Annual fees are around USD 550.
Will I receive a title to the property?
Yes. The fideicomiso gives all the same legal rights to the property as in your home country, and you will receive a title deed stating that the property belongs to you. You are free to will the property to whom you choose.
Are there any other recurring fees?
Yes, there is a monthly HOA fee and annual property taxes.
How much are property taxes?
The property tax (‘Predial’) typically runs approximately MXN 1,200 annually. Also, if you pay your property taxes early (in December), you will receive a discount of up to 25%.
What is the HOA fee, and what does it include?
The HOA (homeowners association) fee for Selva Escondida is approximately USD 50 per month. For Kaana, Luum, Naay, and Palmas, the HOA is around USD 100. This includes care for all the grounds, groundskeeping such as mowing and trimming around plants, pool upkeep, and 24/7 neighborhood watch and security. This also covers the maintenance of and guarding of the entry and exit gates to the community.
Does my property have a warranty?
Yes. There is a five-year warranty for structural issues, three years for waterproofing, and one year for hidden manufacturing defects in electrical, hydraulic, and sanitary installations.
Is the home delivered fully serviced?
Yes, all the homes at Selva Escondida come fully serviced with an electrical meter, city sewer, and water. You will need to set up the accounts in your name. Internet service is available from local providers.
Is the water safe to drink?
We have yet to hear of anyone who drinks tap water here in Mexico, even the locals. This is because of the high mineral content. Over time, it’s simply not good for you, although It is perfectly safe for showering, brushing your teeth, and other household use.
How much do utilities cost?
Moderate use of electricity can be USD 30 a month. Reasonable use of water can be USD 10 a month. Gas for cooking can be USD 35 for a 50lbs tank. Internet service starts at around USD 25 a month. Your Life in Mexico can assist you in setting up these services
Is Selva Escondida/Puerto Morelos a suitable location for a retired couple?
Yes! Since the homeowners association takes care of groundskeeping, pool care, and garbage disposal, Selva Escondida is low maintenance. You can also hire help for housecleaning, cooking, laundry, and general home maintenance. And Puerto Morelos is well suited for retirees with plenty of dining options, easy beach access, and is conveniently located directly between Cancun and Playa del Carmen.
I’m planning to use my home as an investment property. Can I rent it out?
Yes, you can. The current HOA for Selva Escondida has no restrictions on using your home as a rental property, and the state of Quintana Roo also allows it. We can also recommend trusted property management companies to assist you with managing an income rental property.
Would you consider Selva Escondida/Puerto Morelos to be a rentable location?
Absolutely. Puerto Morelos is located directly between Cancun and Playa del Carmen, making it a highly desirable vacation location, and the area is only increasing in popularity.
Should I be concerned about safety?
Most of the Yucatan is generally safe, as the Mexican government works diligently to protect the tourism industry and ex-pat community, which brings millions of dollars to the area. Puerto Morelos is exceedingly safe, and you will feel comfortable walking, shopping, dining, and so on. Also, Selva Escondida has a security booth and gate, which is attended 24/7. The entire community is also patrolled day and night
Is the area prone to flooding?
No. Selva Escondida has all the proper drainage systems installed, so average rainfall will not affect your property. The ground in the Yucatan peninsula consists of porous limestone bedrock that allows adequate drainage.
What is the exact address of the property?
Av. Las Palmas SM 41 MZ 1 LT 1-50, 77580 Puerto Morelos, Q.R.
Where in Puerto Morelos is Selva Escondida located?
The town is divided into two sides, the ‘port’ or beachside and ‘colonia,’ the neighborhood side. Highway 307, which runs from Cancun to Belize, divides the sides. Selva Escondida is on the colonia side, ten minutes from the beach. It is the furthest development from the highway, nestled behind other gated communities, making it safe, quiet, and peaceful. One massive advantage to being on this side of town is Selva Escondida’s electricity and water rates are locally zoned, making them very affordable, unlike the designated tourist zones on the beach side of the highway.
Who is responsible for the project?
Grupo Miraro Land Developers are proud to bring you Selva Escondida. They are a serious, well-funded developer with over 30 years of experience. They have an excellent reputation, with completed projects in Cancun, Puerto Morelos, and Mexico City.
To learn more about the purchase process, check out A First-time Buyer’s Guide to Purchasing Property in Mexico and contact us for more information about owning a piece of paradise in the Riviera Maya!