Discover the True Cost of Selling Your Property in Mexico Selling your property in Mexico is a significant step, and understanding the associated costs is crucial. Here are the three primary expenses you should be aware of: Real Estate Commission: When you choose to work with a real estate agent, be prepared to allocate a commission ranging from 6% to 10% of the sale price. Additionally, there's a...
According to a survey featured in The Report 2023, #CBGlobalLuxury Property Specialists have highlighted three critical factors that hold immense significance for luxury homebuyers, especially in sought-after destinations like Puerto Vallarta: 📍 Location: Whether it's the proximity to a top-notch school system, easy access to transportation hubs, or the allure of residing in an iconic destination...
Protecting Your Investments: Jalisco's New Real Estate Law Protecting Your Investments: Jalisco's New Real Estate Law In a significant stride towards safeguarding the interests of Jalisco's residents and ensuring trustworthy real estate investments, the Jalisco Congress has officially ratified the Registration and Accreditation Law for Real Estate Service Providers of the State of Jalisco. This...
Understanding Property Taxes in Mexico When it comes to owning property in Mexico, it's crucial to have a clear understanding of the various taxes associated with real estate. Among these, property taxes play a significant role, and they can vary depending on the type and location of your property. Let's explore the two main property taxes you need to be aware of: 1. Transfer Tax: A vital...
Before you complete a real estate transaction in Mexico, it's essential to account for closing costs in your financial plan. These closing costs in México are comprised of various fees and expenses associated with the property purchase. Typically, they add up to approximately 4% to 6% of the property's purchase price. Importantly, these closing costs are the responsibility of the buyer. It's essential...
A Mexican Tax Identification Number (NIF) is a unique 13-digit number assigned to individuals and companies by the Mexican tax authority (SAT).