Transaction Costs
Transaction Costs When Buying Mexican Real Estate
The closing costs in Mexico are usually paid by the buyer. Fees for closing, in a regular transaction, usually come to between 6% and 7% of the cost of the property. The fees will cover an acquisition tax, property-registration fee, a fee for the tax certificate, the title-search fee, the property-appraisal fee, the notary’s fee, and any miscellaneous clerical fees, as well as a value-added tax on anyone whose services were engaged in facilitating the transaction (the appraiser, the notary, etc.). You can get an estimate of these fees from your notary and/or real estate agent when you make your offer.
The seller pays the real estate agent’s fee—usually somewhere between 6% and 10% of the sale price. If the real estate agent has kept the escrow account, it is usually taken from those funds.