COSTS OF PURCHASING & OWNING
Property in Mexico…
I N I T I A L
1. Price of Property
2. Closing Costs (5-6% of the value of the property) includes:
a. 1-2% for Notary fees
b. 2% for Transfer Tax to Mexican Government
c. The remainder is for appraisal, No Lien Certification, Catastro Value,
recording at the Public Registry, copy of Trust, Power of Attorney, etc.
3. Bank Trust fees approximately $2768 – 3,000 USD depending on the bank.
4. Legal Admin fee’s runs $750.00 USD for all legal property research and trust paperwork.
YEARLY EXPENSES
* Yearly trust payment (amount determined by bank) usually $468-600.00 US depending on Bank.
* Taxes (always paid in January) usually around $300.00 to 800.00
* Association Fees (if applicable for Condominiums or homeowners)
* Management fees if property rented (20 to 30%)
* Repairs/Maintenance/Maids
* Utilities:
* Electric (billed every two months)
* Water/sewer – around $25.00 per month
* Phone – base rate is around $35.00, DSL additional $40.00
* Propane Gas – $30.00 per month for gas stove and water heater, delivered to
door
