Sell Your Mexico Home
Selling a property in Mexico can be both stressful and challenging, especially if you are not based in the country and don’t speak Spanish fluently. We recommend that home sellers in Mexico get a listing agent to help them set their sales price, give home-tours, and negotiate the final offer. If you don’t have an agent, we can recommend an experienced agent in your area.
Determining the Value and Pricing of Your Mexico Property
The first step in the selling process will be to value your home. This step will require the expertise of a local valuation surveyor or your real estate agent, who, lucky for you, wears many hats. For starters, a local real estate agent with expert knowledge of your location will be able to advise you on setting your sale price post-valuation and maximizing results. Read our guide to pricing your home in Mexico for more information.
Setting Up a Marketing Strategy for Your Mexico Property
If you choose to market your property yourself, you should start by reaching out to your close network of friends and family, utilize social media and publish your listing on social media. You may also want to consider finding paid advertising opportunities on expat and local websites. Far Homes, for example, can help with all of this.
The real perks of hiring a real estate agent to list and sell your Mexico home shine when it comes to marketing. Since there is no national Multiple Listing Service in Mexico that would help your property get online exposure, marketing typically happens through word-of-mouth among local agents. While that is a great way for your property to be discovered locally, with so many buyers looking online, a digital presence is essential to boost traffic.
When a real estate agent lists your home, especially if they are part of a well-established agency, you get the advantage of extended reach through their large network and gain online presence when the agency publishes your listing on their website. The agency will create a marketing strategy specific to your property and its location and execute it themselves. And not only will your property be more discoverable, but the agent’s sales expertise will also help secure prospective buyers during home inspections and negotiate a better price on the final offer.
Handling Closing Costs and Taxes When Selling a Home in Mexico
Now that your real estate agent successfully maneuvered through the real estate sale process, the only thing left is closing. Here’s a rundown of the seller’s-side closing costs you should be aware of in Mexico. View our detailed guide to Closing Costs in Mexico.
As the seller, you will pay agent fees, which are typically 2.5-3% to the listing agent and 2.5-3% to the buyer’s agent. The estimate will vary depending on many factors, such as your home’s price and your property’s location. The applicable taxes include transfer tax, which can run between 2-5% of the selling price, and additional legal fees, like the 16% of IVA, the general sales tax for goods and services. These taxes vary, so you should talk to a tax expert or your local agent to understand your personal situation and hire a lawyer to assist with handling paperwork with government agencies. Take a look at our in-depth breakdown of all closing costs in Mexico.
If you happen to deal directly with the buyer, it may save you some money when it comes to closing; however, you will have to understand complex international legal work which requires fluent knowledge of Spanish– another reason why finding a local real estate agent in Mexico is worth your while.
Whether you want to reap all of the amazing benefits of working with an expert or you know you won’t personally be available for every showing of your property, the one solution we recommend to make the selling process less intimidating is hiring a real estate agent. Let our experienced Far Homes team match you with a pre-vetted, bilingual local professional who will put your interests first and take the hassle of selling your Mexico home off your hands.