Acquiring real estate is worth celebrating, and being a responsible homeowner is even more so. But how to be? Start by being aware of the procedures and expenses you need to ensure the legality of your purchase.
The deed is one of the most crucial expenses when buying a house or apartment. If you're considering taking the big step of investing in your assets, keep reading. Here we'll tell you everything about a property deed, including how to calculate its cost.
What Is a Property Deed and What’s Its Cost?
A deed is a document that legally recognizes you as the owner of the property you have purchased. Processing it is one of your obligations and rights as an owner. To do it correctly, you must go to a notary.
In Mexico, deeds do not have a fixed cost, as their value depends on factors such as location, land use, and property value. However, the price ranges from 4% to 7% of the total value of the property, and it also considers the following*:
- The notary’s fees, since they will be the professionals who will ensure that the documentation is in order.
- Taxes. The most important is the Property Purchase Tax (SAI, in Spanish), which can cost up to 6.5% of the property.
- Additional documents and payments like cadastral plans, land use certificates, and others.
For this process to be as efficient as possible, you will need documents such as the property title, current official identification, purchase agreement, and property tax.
Make Wise Decisions Throughout the Process
Having all your property documents in order will guarantee the legal certainty of your assets today and for years to come. Protect your investment to prevent fraud and facilitate future decisions, whether inheriting or selling.
Start or continue your journey as a responsible homeowner by investing in the wisest option. Peregrina in Tulum is the right project for this. Its apartments, full of natural lighting, are ideal for enjoying the Riviera Maya and renting them out when not occupied.
Find out more about this excellent investment opportunity, including its amenities and location in Kaybe, a residential complex with high capital appreciation in Tulum. Peregrina is a Grupo Emerita project, perfect for maximizing your capital.
Source: *BBVA México
You might be interested: Peregrina, a real estate project within Kaybe
