Before buying real estate in Mexico, make sure you are considering the closing costs into your budget. Real estate closing costs in Mexico consist of various fees and expenses. They generally total between 4% to 6% of the purchase price. These costs are always the responsibility of the buyer. The seller, on the other hand, will have to pay other real estate fees and their capital gains taxes.
Mexico Closing Costs Example
Closing costs vary from state to state. Below we’ll go over an example with all the closing costs for a real estate deal in Nayarit and Jalisco. The fees are shown in USD and they are to be used as a guideline only. They will vary according to the size of the transaction, state laws, and exchange rates.
- Transfer tax: 2% State Tax
- Trust Permit (Department of Foreign Affairs): $1000 USD
- Foreign Investment Registry (Department of Foreign Investment): $700 USD
- Trustee Bank Acceptance Fee: $550 USD
- Trustee Bank First Year’s Trust Fee: $550 USD
- Appraisal for Future Tax Assessment: Varies by property size and the appraiser’s fees.
- Non-Encumbrance Certificate (Land Registry Office): $15 USD
- Preventative Notice Advice (Land Registry Office): $30 USD
- Registration Fees (Land Registry Office): Varies between 0.5% to 1% in Jalisco/Nayarit.
- Notary’s Fee: Varies between 0.5% to 1%, depending on the transaction size.
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