BajaNomad
Not logged in [Login - Register]

Go To Bottom
Printable Version  
Author: Subject: closing costs on a home purchase
C-Urchin
Nomad
**




Posts: 234
Registered: 12-17-2008
Location: La Paz
Member Is Offline


[*] posted on 4-13-2011 at 06:10 PM
closing costs on a home purchase


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!:no:




*Be the man your dog thinks you are
View user's profile
monoloco
Elite Nomad
******




Posts: 6667
Registered: 7-13-2009
Location: Pescadero BCS
Member Is Offline


[*] posted on 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.
View user's profile
Scorpimon
Junior Nomad
*




Posts: 33
Registered: 6-6-2008
Location: Nopoló
Member Is Offline

Mood: Irie

[*] posted on 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.
View user's profile
Dave
Elite Nomad
******




Posts: 6005
Registered: 11-5-2002
Member Is Offline


[*] posted on 4-13-2011 at 10:48 PM
Depends...


Who's paying cap gains?

Somebody's gonna.

Eventually...:rolleyes:




View user's profile
Paulclark
Nomad
**




Posts: 359
Registered: 10-13-2008
Location: Castillo de Arena
Member Is Offline


[*] posted on 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.
View user's profile Visit user's homepage
MitchMan
Super Nomad
****




Posts: 1856
Registered: 3-9-2009
Member Is Offline


[*] posted on 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.
View user's profile Visit user's homepage
805gregg
Super Nomad
****




Posts: 1344
Registered: 5-21-2006
Location: Ojai, Ca
Member Is Offline


[*] posted on 4-14-2011 at 07:00 PM


Rent and you won't lose money.
View user's profile

  Go To Top

 






All Content Copyright 1997- Q87 International; All Rights Reserved.
Powered by XMB; XMB Forum Software © 2001-2014 The XMB Group






"If it were lush and rich, one could understand the pull, but it is fierce and hostile and sullen. The stone mountains pile up to the sky and there is little fresh water. But we know we must go back if we live, and we don't know why." - Steinbeck, Log from the Sea of Cortez

 

"People don't care how much you know, until they know how much you care." - Theodore Roosevelt

 

"You can easily judge the character of others by how they treat those who they think can do nothing for them or to them." - Malcolm Forbes

 

"Let others lead small lives, but not you. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Let others leave their future in someone else's hands, but not you." - Jim Rohn

 

"The best way to get the right answer on the internet is not to ask a question; it's to post the wrong answer." - Cunningham's Law







Thank you to Baja Bound Mexico Insurance Services for your long-term support of the BajaNomad.com Forums site.







Emergency Baja Contacts Include:

Desert Hawks; El Rosario-based ambulance transport; Emergency #: (616) 103-0262