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FREQUENTLY ASKED QUESTIONS
Find answers to the most frequently asked questions about real estate investing in Mexico.
What is a fideicomiso?
The fideicomiso is an administrative formality for any foreigner wishing to become a property owner within 50km of the beach or the Mexican border.
The time to obtain all the documents once collected is approximately two weeks.
The cost is currently $1800 to get it plus $550 annual fee.
What are the steps to buying real estate in Mexico as a foreigner?
Complete and sign the reservation contract (carta oferta) with a refundable deposit in case of cancellation within 15 days.
Complete and sign the sales contract
Pay the first and subsequent deposits according to the sales contract
Establish the Fideicomiso
Signing of notarial deeds
I assist you throughout all these steps to make the process as secure and simple as possible.
What are the monthly charges for a condo in Mexico?
Condominium fees: from $2.5/m2 (40m2 studio = $100/month)
Fideicomiso: $45/month
Water/electricity: $40 to $80/month
Internet/TV: from $30/month
Maintenance: $20/month
property tax: 0.1% per year of the purchase price
Is it possible to rent or take care of my condo in my absence?
Yes! I would suggest rental management agencies to generate rental income in your absence. The cost is 15 to 20% of your rental income.
Some agencies also offer maintenance packages even without leasing for a rate between USD 60 and 80 per month.
How much do notary fees cost?
PURCHASE
When purchasing, the notary fees are 6% for the buyer.
SALE
When reselling there may be a capital gains tax, that is to say the difference between the purchase price and the sale price. If you do not have Mexican residency: 0 to 35% depending on the amount of the capital gain If you have Mexican permanent residency: Exemption up to approximately 250,000 USD In both cases I strongly recommend that you consult me in order to discuss it with my notary who will inform me of the exact amounts but also the ways to reduce this tax as much as possible.
What documents are required to buy property in Mexico as a foreigner?
Fideicomiso or Incorporate a Real Estate Company in Mexico
Valid passport
Proof of address
Birth certificate
Marriage certificates if applicable
Sales contract signed by the buyer and the seller
How to secure your purchase on a pre-sale?
In order to secure the purchase of your condo in presale, it is essential to check certain points:
Builder's CV and history
Showroom or offices in the region
Construction license
Fiscal Constancy
Construction trust
Compliant sales contract
I take care of verifying all these different points and many others to guarantee your real estate investment on the Riviera Maya!
How much tax will I pay on my rental income?
"Anyone making profits in Mexico is subject to Mexican taxes."
AIRBNB TAX
5% current commission on your rental income from the platform.
Exemption if you rent through a rental management agency.
TAXES ON RENTAL INCOME
- With Mexican residency or through a rental agencyThe rental income tax is currently 4% on rental income if you have Mexican residency or if you delegate to a rental management agency
- Without residency or rental management, the tax will be 25% on your rental income if you do not have rental management or Mexican residency. A tax credit is possible if you are a resident, please contact the tax center for more information.
How does it work for payment?
PRESALE
When purchasing in advance (construction), an initial deposit of at least 30% is paid directly into the developer's account, then the remainder in monthly installments during construction and the final deposit after the final inspection or at the notary's office during signing.
RESALE
If you are buying a property directly from a private individual, the seller usually requires an initial deposit to reserve the property until the signing at the notary, where the full amount will be paid. The amount can be paid directly into the seller's account or into an escrow account (third-party account) with a specialized company (usually a law firm), which will only release the amount to the seller after all documents have been verified and validated. This service costs approximately USD 500. How does the payment work?