To carry out a sale in Mexico, it is necessary in the first instance to define a price between buyer and seller. For this, the buyer normally by an offer of purchase , specifying the fixed purchase value and the terms in which the operation will be carried out, in any case this process would not exceed 3 months.
Once the offer of purchase is approved by the owners, it is formalized by signing a purchase contract and the delivery of a section that is normally 5% to 10% of the value of the sale. At this time, the seller delivers a package of complete documents, through which the buyer can carry out the procedure for the preparation of the title of the property.
A sale of real estate is carried out before a notary public, he is in charge of supervising and carrying out the preparation of the property title and its registration before the public registry of the property of the corresponding locality and thus guaranteeing that the sales operations come to fruition and both legally and fiscally there are no problems. The cost of the services of the notary and the corresponding taxes vary depending on the value of the appraisal that is designated at the time by an expert appraiser hired by the notary, these are around 6% of the price of the sale operation.
In addition to the procedure before the notary, if the buyer is a foreigner, it is necessary to carry out a small procedure before the Ministry of Foreign Affairs, which does not represent a large outlay and is quite simple to carry out.
As a real estate agency in “Tulum Properties and Playa Homes”, our job will be to accompany this entire process in order to ensure that all this negotiation is carried out in the fastest and safest way for both parties. The cost of the fees of a real estate agency in Mexico, are covered by the seller.