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When purchasing a condominium or house in pre-sale, one crucial step is the closing process, typically occurring months after your property is delivered.
The Closing Process
Once your property is delivered, a representative will contact you and the closing coordinator or notary directly. You will be asked to provide your IDs and fill out some forms.
Closing Cost Estimate
The closing coordinator or notary will provide a detailed closing cost estimate, giving you a clear understanding of the financial commitment involved. It’s important to note that closing costs in Mexico may be slightly higher than what you’re accustomed to in your home country. However, property taxes here are significantly lower, which can be a beneficial factor to consider.
At the Notary Office
The closing will take place at the notary office, where you will meet with the closing coordinator or a notary representative. They will explain the deed, and you must ensure that all your information is correctly typed and that the payment amount is accurate. I have discussed the closing process in detail in a previous blog.
At the notary office, you will receive a simple copy of your deed. The official deed, complete with Mexican Government stamps, will be ready approximately 3 to 4 months after closing. You must ask for your deed number and the date to facilitate retrieval when contacting the notary.
Picking Up Your Deed
To pick up your deed, you may need to set up an appointment with the notary. They may have a specific date for deed distribution and might ask you to fill out a form and provide your ID.
I hope this piece of information helps you on your new chapter.
I’m Poncho Davalos, your trusted realtor in Puerto Vallarta and Riviera Nayarit. I’m here to assist with all your real estate needs. Feel free to like, comment, and share this blog with your friends and family. My e-mail is hello@ponchodavalos.com.mx
Esta publicación también está disponible en: English Español
