Closing costs on your residential Mexico real estate transaction should be estimated at around 6-8 %. The loan related fees are similar to the US, however the 3rd party Mexico fees are what the majority of the closing costs are associated with. Municipal Fees Acquisition Tax = 2% of purchase price Value estimation for property tax = .18% of purchase price Public Registry Fee = .5% of purchase price Certificate of Freedom from Liens = $34 Bank (Trust) Fees Foreign Affairs Permit & Registration (SRE)= $1300 Trust Initiation = $695 Bank Trust Fee (also paid annually) = $695 Transaction & Legal Fees Notario Fee = $2750 Translation Fees = $100 Transaction Fee = $550 Escrow & Title Escrow Fee = $575 Title Insurance (not required, but recommended) = $7 per 1000 Lender Fees Origination = Case by Case. Please inquire Underwriting = $400 Administration Fee = $200 Processing = $900 Lender’s Appraisal Fee = .1% of purchase price (max $1500) This information is brought to you by our associate
Colin Thomas from Baja Capital Mortgage colin@bajacapitalmortgage.com
www.bajacapitalmortagage.com US and Canada toll free 866-471-6804 Mazatlan 669-117-9875 Return to top |