Closing Costs When Buying Property in Yucatan

Main Costs

When buying property in Yucatan, closing costs typically represent between 5% and 8% of the purchase price. Here's the breakdown:

Notary Fees (3-5%)

The public notary charges for deed preparation, legal verification, and registration. Fees vary based on property value and transaction complexity.

Acquisition Tax — ISAI (2-3%)

The Property Acquisition Tax is a state tax paid by the buyer. In Yucatan, the rate is generally 2% on the cadastral value or sale price, whichever is higher.

Appraisal ($3,000 - $8,000 MXN)

An official appraisal is required to determine the cadastral value of the property. It's performed by a certified appraiser.

Certificates and Paperwork

• Lien-free certificate: ~$500 MXN
• Property tax clearance: ~$200 MXN
• Water bill clearance: ~$200 MXN

Fideicomiso (foreigners in restricted zone only)

• Setup: $500-1,000 USD
• Annual fee: $500-800 USD

Cost Example

For a property valued at $3,000,000 MXN:

• Notary: ~$120,000 MXN
• ISAI: ~$60,000 MXN
• Appraisal: ~$5,000 MXN
• Certificates: ~$1,000 MXN
• Total: ~$186,000 MXN (6.2%)

Costs are approximate and may vary depending on the property and notary.