Acquiring real estate is a reason to celebrate, and being a responsible owner is even more so. But how can you be one? Start by being aware of the paperwork and expenses you need to ensure your purchase is legal.
Deed registration 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 deed registration, including how to calculate its cost.
What is deed registration and how much does it cost?
The deed is the document that legally recognizes you as the owner of the property you have acquired. Processing it is one of your obligations and rights as an owner, and to do it correctly you must go to a notary.
In Mexico, deed registration does not have a fixed cost, as its value depends on factors such as location, land use, and the value of the property. However, the cost ranges between 4% and 7% of the total value of the property, and also considers the following*:
- The notary’s fees, as they will be the professional who ensures the documentation is in order.
- Taxes. The most important is the Real Estate Acquisition Tax (SAI), which can cost up to 6.5% of the property.
- Registration with the Public Property Registry, which will be carried out by the notary and whose cost also varies depending on the city or municipality.
- Additional certificates and payments such as cadastral plans, land use certificates, among others.
To make this process as efficient as possible, you’ll need documents such as: the property title, valid official identification, purchase agreement, and property tax receipts.
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. Choose to protect your investment to avoid fraud and make future decisions easier, whether it’s inheriting or selling.
Start or continue your journey as a responsible owner by investing in the wisest option. Peregrina in Tulum is the right project for this. Its apartments filled with natural light are ideal for enjoying the Riviera Maya and renting them out when not in use.
Learn more about this great investment opportunity, such as its amenities and its location in Kaybé, a high-value residential complex in Tulum. Peregrina is a project by Grupo Emerita, and it’s perfect for maximizing your capital.
Source: *BBVA México
You might be interested: Peregrina, a real estate project within Kaybé
