What do I need to know when buying property in Lake Chapala?

"When buying property in Lake Chapala, it's important to understand Mexican real estate law as it relates to foreign buyers. It's important to make sure that the title to the property is valid, and to research whether the seller has all valid permits and documents in order, such as construction permits, zoning permits, and deed registration. Before making the purchase, it's critical to understand the property tax system, which is different from the tax system in the U.S. It's also important to ensure that you understand the exchange rate between the Mexican peso and your currency. Additionally, it's important to have a thorough understanding of any applicable homeowner association fees, or other fees and charges associated with owning the property. Lastly, it's wise to consult a lawyer familiar with real estate in Mexico prior to making a purchase," said another expat in Lake Chapala, Mexico.