I want to pay cash for a house in Mexico. How do I get the money across border? Do I need to exchange to peso?

Question

Do I need to contact the US immigration? Where would I exchange dollars to peso for a better exchange

Answer 1

I believe you can take (up to some limit - I thing $10K?) dollars out of the US without any explicit permit.  Converting $ to Peso will be safer in the US, but you may get a better rate in Mexico - but I am not sure about its legality.  When you consider all these issues, why would you want to pay cash?  Why not a bank check or wire transfer?  that will keep things clean, safe, and legal./

Answer 2

Go to Mexico and just purchase it.  You can go to the Juarez US embassy to get any details.  I don't think there would be any problem at all in buying it.  Just need a valid passport to go to Mexico.

Can I come live with you?  I want to go and live there also!

Answer 3

Why don't you wait until you get to Mexico and then go to the bank?  Surely your bank has locations in Mexico.  I wouldn't cross the border with dollars or pesos - you are likely to get robbed or worse.  And even if you are paying cash, do you actually have to physically hand someone the cash?  Why not just send a wire payment?

Answer 4

Pay cash for a house? Never a good idea to start with. And for one in Mexico? A very bad idea, I would think.

Answer 5

I  live in Mexico as an x-pat Canadian  and  most  property  in  Lake  Chapala  area  is  priced  in  U.S.A. dollars. if  it's in pesos  they  just  comvert  at  the  going  rate  of  say  10.50 pesos  to  the  u.s.a.dollar  not a  problem at  any  bank  in  mexico.'nearly  the  only  way to  but  is  paying  cash as  the  mortgage  industry  is  not  well  developed  here as  yet  also  the interest  rate  would  Kill  you  ,also  you  could  bring  10,000.00  dollars  across  the  border  legally  but I  wouldnt  carry  money  on  me  like  that.  we  also  have  A.T.M. machines  in all large  places  also  we  have  most  Franchise  Real Estate  co.  here

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