Closing costs are high in Mexico and generally borne 100% by the Buyer; that said the annual property taxes are extremely low. I pay roughly $200 USD per year on a condo valued at $230,000USD more or less. You can also deduct some of the closing costs against your capital gain when you sell the property. As Poncho says, you should always get an estimate from a notary on closing costs prior to accepting an offer. It does not cost anything to request an estimate.
Poncho Dávalos
ALWAYS you have the right to ask for closing cost estimate BEFORE you perform, is sad you weren’t inform. A profesional real estate agent should do this.
Closing costs are high in Mexico and generally borne 100% by the Buyer; that said the annual property taxes are extremely low. I pay roughly $200 USD per year on a condo valued at $230,000USD more or less. You can also deduct some of the closing costs against your capital gain when you sell the property. As Poncho says, you should always get an estimate from a notary on closing costs prior to accepting an offer. It does not cost anything to request an estimate.
ALWAYS you have the right to ask for closing cost estimate BEFORE you perform, is sad you weren’t inform. A profesional real estate agent should do this.
how could you not know there are closing costs to purchasing a property??
I know, I know…But I thought some small admin costs. Not $18,000.
Would you do it again? Do you ever worry about resale?
yeah that’s nuts – however we paid $10,000 on a $250,000 property. surprisingly we paid less closing costs when we sold our cdn home. go figure.