Are you looking to sell your house or condo in Puerto Vallarta? Here are a few tips that will help you along the way.

1. Find an experienced and professional real estate agent

This may seem like a point I am biased on since I am a long time realtor here in PV. However, this truly is the most important part of selling your home here in Mexico. “For Sale By Owner”  may be an option in your home country, but is hardly seen here in PV because of the extensive paperwork notaries require and the specific market we have. Since PV is a 2nd home market, it’s not unusual to see a home sit on the market for close to a year. Vacation homes in foreign countries just don’t move as quickly as primary residences. That’s when fantastic advertising and marketing can really help, as well as an agent with an extensive database of clientele, and the savvy to follow up with them over a long period of time until the timing is right.

2. Getting your Paperwork Organized

Real estate transactions take place in front of a notary public here. These notaries require extensive paperwork and documents. Your agent will be very helpful in preparing you for this process and ensuring that you have as many documents as early as possible in the process to avoid delays near the end of your sale.

3. Capital Gains

When you sell any property here in PV, you will need to pay capital gains taxes to Mexico on the price difference since when you purchased your home. This amount is 35% of the gain usually. There are ways to decrease your taxes owed by working with knowledgeable lawyers that can provide you with a “tax strategy.” Being prepared in this arena will save you thousands of dollars in the end.

4. Fees to Expect

Here in PV, sellers are responsible for paying the brokerage commission, which is 8% of the sale price and capital gains taxes. Buyers pay for all closing costs and escrow fees.

5. Escrow Accounts

Any reputable real estate agent will recommend the use of an escrow account here in Mexico. We at Boardwalk Realty use both Secure Title and Armour Secure, two companies with excellent track records and customer service. This is the safest way to protect both the buyer and seller for any real estate transaction.

Are you looking to sell your home in Puerto Vallarta? I am here to help! – John

 

Visit my website www.pvlifestyles.com for more information or to contact me!