Closing costs in Mexico are often a surprise for foreign buyers… Sometimes they feel the closing costs are too low, sometimes too high, but many times they are just confused why they were told one approximate by their attorney, a different one by their real estate agent, and a completely different one by the seller. If you have felt like this, or if you are about to enter into a real estate transaction in Mexico, this is going to be very interesting information for you.
Every transfer of property requires taxes, fees, expenses, and the acquisition of certain documents, that must be paid for prior to the signing of the deed that contains the property title. Notaries are required to make some of these payments, but usually the cost break down they provide to their clients includes all of the taxes, fees, expenses, and document costs, required for the entire transaction… read the complete article here.
– The complete article was originally published in the April 2007 issue of Another Day in Paradise.