With the pound weak against the peso I'm going to sell my house. I was wondering if anyone had any experience with this with regards to the related costs etc. I'm not going to use a realtor. Buyer pays all notary fees? Anyone know how much you have to pay scotiabank with regards to fidecomiso and signing over the property? And I'm guessing I have to pay 40% capital gains tax - anyone know how and when this is paid? Thanks a million for any help with this! Mat
Scotia bank can tell you exactly how much you will owe them if you call their offices. The capital gain tax is taken out of the money you receive at the closing or will be charged to you and then you will pay it to the notary to have them submit to the govt. If the buyer agrees to pay your notary fees that is a good thing though I am not sure they would or should. But it's up to the buyer. Good luck and let us know what you find out
You may want to ask this guy, My Mexican Lawyer ยป Useful info for expats living and working in Mexico . He posts and answers questions at this Site as Solomon: In The Roo Forum As far as I know, we, as the buyers, paid all the notary fees and the fees to establish the Fideicomiso.
And I believe that to be the norm, here. Maybe not: read this carefully, it's the most thorough and clear statement of the requirements for exemption from this tax I've ever seen. If you meet the test, you will pay no capital gains taxes. Puerto Morelos Blog: Understanding Capital Gains (ISR) Tax in Mexico If, after carefully reading her article, you are convinced your property will not be exempt from capital gains taxes, then you can read this article about how to calculate the tax owed. http://www.puertomorelosblog.com/search/label/Real Estate - Selling in Mexico
