In addition to the property price, the buyer covers the so-called closing/deed costs, which in Mexico usually represent between 4% and 8% of the property's value. Knowing them in advance avoids surprises.
What Costs Does the Buyer Cover?
- ISAI (Property Acquisition Tax): it is charged by the state or municipality and ranges, depending on the region, from approximately 2% to 5%.
- Notary fees: for drafting and notarizing the deed.
- Appraisal: required by the notary and the bank if there is financing.
- Certificates: no liens and no outstanding debts.
- Registration with the Public Property Registry.
- Fees and paperwork various.
An approximate example
For a property worth $2,000,000 MXN, closing/deed costs could range between $80,000 and $160,000, depending on the state, the use of financing, and the notary. This is an estimate: the notary will give you the exact breakdown before signing.
Recommendation
Budget for these expenses also of the down payment. At SEAX we help you estimate them from the start so you can buy with complete clarity.
Do you have questions about your purchase or sale?
A SEAX Real Estate advisor will guide you with no obligation, backed by the legal support of Saucedo Abogados.
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