Additional Costs When Buying
Breakdown of what closing costs look like when buying a property in Puerto Vallarta or in Mexico in general from two (2) different closings for two (2) different amounts. It is important to understand that these amounts can change depending on the value of the property and sometimes depending on the notary used. A realtor might tell a buyer that the closing costs are about 5% to 9% and that is usually the case. However, the real answer is that it depends on the amount. Most of the fees charged by the notary are fixed. The tax property fee of about 2% of the total value.
When buying a property that is worth US$74,000 the buyer will pay 6.91% in closing costs.
When buying a property that is worth US$282,000 the buyer will pay 5.91% in closing costs.
As shown in these two examples it seems like the percentage of the closing costs is deceiving. When the total price of a property is relatively low the percentage of closing costs seems higher. When the total price is high the percentage of the closing costs seems lower. It is important for the buyer to understand how much you would be paying. These posts and examples should give a buyer a better idea. Of course, the best thing is to wait until you have your closing costs sheet from a notary.