Bank Financing in Tulum

[Matthew Swearingen]

Trying to get an understanding on possible financing in buying a pre construction in Tulum, Maybe I can get some clarification. Based on what I have read-preconstruct  want anyware from 30% to 50% down and then 2 more deposits with the last being on delivery. I personally would like to leverage my money and being that I don't have that kind of capital, putting say $100k into a completed condo within a years time frame puts me in a crunch. Not to mention if it turns out the developer skips town. 

I have read lol...that things are changing somewhat and banks in Mexico are offering a little more traditional financing with 30% down and 10, 15, 20 year loans. Has anyone heard the same? And it seems like you would have to find a developer that is willing to take those kind of terms as opposed to the 30% down and then 40% and remaining 30% at delivery. Don't quote me on those percentages.

If not, the only way it's possible would be a seller financing  me at 30% down and amortized over the next 10, 15, 20 years. It seems like you have to have some serious cash to do these types of transactions if there is not such financing and/or put all your eggs in one basket and hope for the best. 

Any advice would be appreciated.