1. What taxes and what percentage should I pay in Mexico when I buy a property?

– Porcentajes en la tabla (falta editar)

2. In what time do I get the house from which I choose and generate the first payments?

– The estimated time to receive the property may vary depending on the speed of the departments that are working it, notary, public registry, ministry of foreign affairs, escrow and closing company, etc. It can vary between 1 and 4 months depending on each operation.

3. Can I pay for a house in cash?

– Payment can be made in escrow through a cash bank transfer, since the record of the deposit made in the escrow account must remain.

4. Do I or the seller pay the taxes?

– All Taxes are paid by the buyer. With the Exception of the the ISR, that tax is paid by the seller.

5. How profitable are the properties in Los Cabos?

– Cabo has a high capital gain appreciation in properties, and it is a place that is in constant growth and development, the profitability of the property will depend on its characteristics and location. However, Cabo is one of the TOP 10 tourist destinations in the world, rents can be charged in pesos or dollars, therefore profitability through platforms such as Airbnb, among others, as well as medium and long-term rents are very viable in Cabo.

6. From what time can I start to build on a piece of land that I bought and it is within a development?

– To build a house, you must have land.
– After having finished the process of deed and transfer of the deed or title, it is necessary to have an architect or engineer to make the new plans for the property.
– Carry out preliminary and preliminary studies. 1-2 months
– Basic and execution project. 5-6 months
– License and construction company: – License approval, from 1 week to 1 year.
– Builder search: 1-2 months
– Work and final documentation:
– Works period 6-10 months
– last procedures: 1-2 months.

7. How long does it take for the notary to sign the sale?

Day 1- Offer accepted!
Day 2 to 15- Processing period
Day 15 – Initial deposit
Day 16 to 60- Transfer of Title
Day 60 to 65- Procedures and closing

8. From the moment we signed at the notary, how long can I live in my new house ?

– Once the deed is signed before a notary, the seller transfers the keys to the property to the new owner.

9. If the house has defects, will I or the seller pay them ?

– A “Home Inspection” is carried out (it is paid by the buyer), if there are defects in the property found in the Home inspection, the arrangements can be negotiated through an Addendum between buyer and seller. Once both parties agree, the document must be signed and the stipulated in the negotiation must be complied with.

10. – If I cannot go to the notary to sign, can my wife sign even if the money comes out of my account?

– This procedure can be carried out according to the Ministry of Foreign Relations, with a Power of Attorney. What is a document, which is issued before a notary public, through which you authorize a person you trust to, on your behalf, carry out various administrative and / or legal procedures in Mexico, such as buying, selling , deed or manage properties; withdraw money and manage bank accounts; register minors; participate in lawsuits and legal proceedings; among others.