Closing Costs
in a Real Estate Transaction
Closing costs in Mexico are often a surprise for foreign buyers… Sometimes they feel the closing costs are too low, sometimes too high, but many times they are just confused why they were told one approximate by their attorney, a different one by their real estate agent, and a completely different one by the seller....
Understanding Closing in Mexico
It is well known that starting a business or purchasing a property can take a long time, anywhere. This can be especially true if you are a foreigner and you want to purchase property in the “restricted zone” (the coastal areas) of Mexico. I’ve spoken to many foreigners who were told “by somebody” that they...
Notary Public vs. Notario Publico
Throughout my professional practice I have noted several times that foreign clients—especially those who come from a country with a “Common Law” legal system, such as the United States—believe that Mexican notaries are very expensive, in comparison with a U.S. notary’s fee. There is a very good reason for this. Although notaries in both countries...
Private Contracts
...between Buy and Seller. When acquiring property in Mexico, are they really necessary?
¡A las palabras se las lleva el viento! Words are gone with the wind – Mexican saying When I meet with a client who has the idea of acquiring property in Mexico with a private contract between buyer and seller, my recommendation is always the following: 1. First, Obtain a copy of the registered title...
The Apostille
Making a document legal for use in Mexico
In Mexico, the ONLY authority permitted to draft a deed transferring real property or an interest in real property (such as the fideicomiso) is the Mexican Notary Public. This person is different from a notary public in the United States where a simple exam, a bond, and a rubber stamp can make a notary public...
Mexican Capital Gains Tax
...and how your deed declared property value affects it
Just as in the United States or Canada, the foreigner selling his trust rights in real estate must pay a tax on his profits to S.A.T., previously known as Hacienda, Mexico’s version of Uncle Sam. None of us like to pay taxes but we’ve become accustomed to paying them in our own countries and, believe...
