EldonNova Posted December 3, 2022 Report Share Posted December 3, 2022 Is there anyone out there who has recently purchased a house in the municipality of Chapala. I was just wondering what the closing costs were as a percentage of the total purchase price. Have not purchased a property since 2015 and thinking of moving. I believe the biggest cost is that of the Notaria Publica. Would appreciate any and all replies. Quote Link to comment Share on other sites More sharing options...
MexSeekin Posted December 3, 2022 Report Share Posted December 3, 2022 I bought a house located in Chapala during the summer of last year. My closing costs amounted to 2.82% of the home's purchase price. Quote Link to comment Share on other sites More sharing options...
Jreboll Posted December 3, 2022 Report Share Posted December 3, 2022 Do both seller and buyer pay? Quote Link to comment Share on other sites More sharing options...
Mostlylost Posted December 3, 2022 Report Share Posted December 3, 2022 34 minutes ago, Jreboll said: Do both seller and buyer pay? Like anywhere in the world, that is open to negotiation. Quote Link to comment Share on other sites More sharing options...
Jreboll Posted December 3, 2022 Report Share Posted December 3, 2022 The obvious question: did the seller also pay 2.82%? Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted December 3, 2022 Report Share Posted December 3, 2022 Well it used to be that buyer paid all closing costs. Since it has been some years since we bought, not sure that is still the case. Seller is stuck with very high VAT charge on real estate commission. Quote Link to comment Share on other sites More sharing options...
bmh Posted December 3, 2022 Report Share Posted December 3, 2022 The buyer pays. The largest cost is the title from issued by the notario . Quote Link to comment Share on other sites More sharing options...
lakeside7 Posted December 3, 2022 Report Share Posted December 3, 2022 The buyer approx cost is 3% of the transaction Quote Link to comment Share on other sites More sharing options...
InChapala1 Posted December 3, 2022 Report Share Posted December 3, 2022 2 hours ago, bmh said: The buyer pays. The largest cost is the title from issued by the notario . my recollection is transfer taxes were the largest portion. Quote Link to comment Share on other sites More sharing options...
court0503 Posted December 3, 2022 Report Share Posted December 3, 2022 And For seller you can figure costs around 10% of purchase price - for commission etc i realize the question was buyer costs , but when deciding on an investment (like a house purchase) IMO good to figure both the cost to get in and the potential to get out Quote Link to comment Share on other sites More sharing options...
bmh Posted December 4, 2022 Report Share Posted December 4, 2022 I just had to pay for the deed on 50% of the house after my husband s death and I paid 7 % of the price of the house listed on the predial. On houses that you just purchased I would think th e10% of the purchased price would be in th eballpark. Anyone can confirm? Quote Link to comment Share on other sites More sharing options...
rvanparys Posted December 4, 2022 Report Share Posted December 4, 2022 We purchased our home without a realtor and the cost was 2.3% of the selling price plus $400 USD representing 1/2 of the attorney fees... For ball park figuring with a realtor figure 10% of the selling price... Quote Link to comment Share on other sites More sharing options...
InChapala1 Posted December 4, 2022 Report Share Posted December 4, 2022 Standard real estate commission of 7%, plus IVA of 16% on the commission = 8.12%, plus closing, so closer to 11%. Real estate transaction costs here are higher than NOB. 11% on a 300K USD house = 33K USD is a huge chunk to lose just on transaction costs. Quote Link to comment Share on other sites More sharing options...
Ferret Posted December 4, 2022 Report Share Posted December 4, 2022 Seller pays the real estate commission and the commission IVA. 1 Quote Link to comment Share on other sites More sharing options...
Natasha Posted December 4, 2022 Report Share Posted December 4, 2022 IMO it's about time Eldon contacts a notario and learns in advance, owing to personal situation re: many different aspects, what purchase costs would apply in his particular case. 1 Quote Link to comment Share on other sites More sharing options...
EldonNova Posted December 5, 2022 Author Report Share Posted December 5, 2022 I do realize that the seller of a house only pays the real estate comission. The buyer pays the closing costs of purchasing a new house. Thanks for all the comments. I more or less got my answer. Quote Link to comment Share on other sites More sharing options...
lakeside7 Posted December 5, 2022 Report Share Posted December 5, 2022 1 hour ago, EldonNova said: I do realize that the seller of a house only pays the real estate comission. The buyer pays the closing costs of purchasing a new house. Thanks for all the comments. I more or less got my answer. Gosh I hope you where not too confused by the irrelevant comments. Incidentally the Buyer gets to choose the closing Attorney, Quote Link to comment Share on other sites More sharing options...
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