Process of buying in Mexico

Would you like to have a zoom call with Paul to start the Real Estate conversation?

Whether you are in the very early stages and have lots of questions about the process of buying here or you're ready to make your dream a reality - Paul can guide you from where you're at.

Contact Paul directly today!
Paul Trimmer
Your Puerto Vallarta Realtor
Phone / Whatsapp: +52 322 384 6188
Email: paul@paultrimmer.com

Who's Paul? He's a New Zealander living in Puerto Vallarta successfully helping friends and clients buy and sell Real Estate.

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Schooling up on the process of buying real estate in Puerto Vallarta is a wise thing to be doing before making that financial commitment.

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To avoid any unnecessary surprises come closing day, it's good to know what it costs to BUY Real Estate here. On top of the purchase price.

Closing Costs 4-6% (of the purchase price, on top of the purchase price) - this includes the notary, closing attorney, bank trust set up etc
Building inspection $250 - $700 USD (depending on the size of the property)
Escrow fee is about $800 USD
You don't pay real estate fees or capital gains tax (these are paid by the seller).

To avoid any unnecessary surprises after you take possession of your property, it's good to know what it costs to OWN Real Estate here in the long term.

HOA fees (Home Owners Association) - Monthly fees for the maintenance of the building plus other things (examples could include gas, water, 24 hours security etc)
Bank Trust fee (As a international buyer) of around $500 USD each year.
Property Tax. For every $100,000 invested, your property tax is likely to be $100-$150 USD a year. Eg If you buy a condo for $300,000, your Property tax will likely be around $450 a year.
Maybe consider hiring an accountant to discuss your rental income tax obligations if you are investor focused and plan to rent out your unit.
Insurance. Not always necessary but something to consider.
Property Manager: you might like someone to check on your unit during the summer months if you're not in town. This would be a small cost as well to consider.

You only have to do a little bit of research online to learn that as a foreign buyer, you need to buy your property here in PV, in a bank trust.

If you continue digging on the Internet you can come across miss information about this. Here I do an interview with one of my 'go to' attorneys for closings / real estate transactions (Orlando Santamaria). Reach out to me if you have any questions. I hope the video provides some value. 👍

As part of your closing, we use a local closing attorney to help make a smooth and successful transaction. Orlando from LEX360 is one of our "go-to" attorneys for international buyers. His fees are included in your closing costs of 4-6%. We take care of all this administration in the transaction. See below, LEX360 has a nicely articulated information for international buyers buying real estate here in Puerto Vallarta.

Phone/whatsapp (+52) 322 384 6188 paul@p aultrimmer.com