C-Urchin - 4-13-2011 at 06:10 PM
Asking all wise and sage Nomads this question:
What percent of the sale price of a house should all the closing costs be?
taxes, notario, appraisals, fideicomisso fees, the guy helping with the paperwork, etc...
(no agent commission on this deal, seller is paying that)
I am told 6% to 8%. Does not sound right. Help!
monoloco - 4-13-2011 at 06:23 PM
I believe the only thing that would be a percentage would be the taxes, the rest should be fixed fees and not related to the price.
Scorpimon - 4-13-2011 at 06:42 PM
We closed on our house in Nopolo in December and closing costs totaled less than 4.4%. This included transferring the existing fideicomiso, bank
fees, appraisal, Notario fees, Acquisition tax, no loan or debt certificates, public registry fee, title search, one power of attorney, official
translations, copies and Agent fee. The Agent closed for us in La Paz while we were N.O.B.
I was pleased with this cost and thought I got a fair deal. I am not an expert but the cost of your purchase will figure into the closing cost
percentage. The higher value of the house, the lower the closing cost percentage.
Depends...
Dave - 4-13-2011 at 10:48 PM
Who's paying cap gains?
Somebody's gonna.
Eventually...
Paulclark - 4-14-2011 at 07:17 AM
There is a 2% acquisition tax plus about $4,000 in fees for a $100,000 property --- capital gains tax is paid by the seller, unless negotiated
otherwise.
MitchMan - 4-14-2011 at 09:01 AM
If you opt for title insurance, that could cost between $1700 to $2800 USD. If you opt for an American Escrow, another $400 to $600 USD.
805gregg - 4-14-2011 at 07:00 PM
Rent and you won't lose money.