Closing cost

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Oportunities for investors


La Ribera  

Beachfront lot : 2 Hectares 

Beachfront : 500 meters lineals

Location : Cabo San Lucas

Status : SOLD 

Turistic development : Rolling Hills

Price : $ 10 usd by square meter

Buying Property in Mexico

Closing Cost

The closing cost of a Real Estate transaction involves a significant cost of expenses. Most of them are payed by the buyer, and are usually about 6% of the purchase price. This cost covers all the transaction procedures such as title search, Notary fees, Fideicomiso, acquisition tax, etc.

 
MUNICIPAL FEES

Acquisition Tax= 2% of purchase price
Value estimation for property tax= .18% of purchase price
Public Registry Fee= 1% of purchase price
Certificate of Freedom from Liens & Tax Debt= $95

BANK (TRUST) FEES

Foreign Affairs Permit & Registration= $1,600
Trust Initiation= $550
Bank Trust Fee (also paid annually)= $550

TRANSACTION & LEGAL FEES

Notario Fee= $2,750
Translation Fees= $100
Transaction Fee= $550

ESCROW & TITLE

Escrow Fee= $500
Title insurance (not required, but recommended)= $1,500

LENDER FEES

Origination= 2% of loan amount
Underwriting= $400
Docs= $250
Wire= $50
Tax= $100
Administration Fee= $200
Processing= $495
Lender’s Appraisal Fee= .1% of purchase price

 
* The total will be about 6% of the property value