Easy guide to selling your home with Mazatlan4Sale
- Finding your perfect Realtor
- Reputation and well established
- Trust
- Recommended
- Marketing strategy
- Staging and decluttering
- Start packing personal decor or items you do not want to leave.
- Declutter all personal trinkets, photos, …..
- Clean up and organize all closets, shelves, storage units, laundry room and garage.
- Estate Sale by Mazatlan4Sale, or donations to Charity.
- Mazatlan4Sale offers Home Staging Services, contact us for a quote
- Maintenance and repairs
- Repairs any known problems in the home
- If your house hasn’t been painted in some time, it is good to have it all patched up and looking sharp, clean and painted.
- Gardening and plants should be clean and fresh looking
- Mazatlan4Sale has a crew of maintenance, repairs, and gardeners to help you with these important features, as well as a thorough home inspection to assure you don’t miss anything that a prospect client may notice. Contact us for a quote
- Inventory of included items:
- If you are selling your home completely or partially furnished, what appliances, and extras you will include, or what is optional for an extra price.
- Itemized Inventory of what is included in the sale
- Getting the needed documents together (Note: these may be scanned and emailed and we will create an exclusive digital ( file for our eyes only).
- Listing Agreement signed ( Fillable pdf. document)
- Copy of your deed
- Last paid Fidiecomiso (Bank Trust) receipt
- Architectural plans ( if apply)
- Current year property tax bill
- Last Electrical bill (CFE)
- Last Water bill (Jumapam)
- Passport
- Proof of home Address (not in Mexico)
- Immigration Status form
- Current year HOA bill
- HOA rules and Regulations
- Listing your house:
Mazatlan4Sale will set an appointment with you to visit your home to determine the various factors to arrive at a sales price. We will then invite you to fill out our Listing Agreement and go over any details or questions you may have. This Agreement can be done through email or in person. We will present you with our Marketing strategies and methods to get your house sold as soon as possible.
- Showing times it is important to determine with your Realtor the block out times and best times to show your house.
- You will be notified of a prospective buyer with a 24-48 hr advance notice so you have time to prepare and make your home shine for the showing.
- If it will be rented, make sure your renters are advised that they will receive a 24-48 hour notice prior to a showing, and we will try to not inconvenience them.
- We request that the owners, or renters not be present at the showing, to allow prospective buyers to feel comfortable while they tour the home.
- Get informed of the specific legal process for the sale of your property.
In Mexico, selling a property is different than in other countries. It is very important for you that you do not let any surprises sneak up on you which may deter the sale. We have detailed below a general process. However, each properties legalities are different and factors may vary. It is very important to have a trusted Realtor and Closing Officer to guide and help you through the process.
- What is a “Notario”?
A Notary in Mexico, called a Notario Publico, is a licensed attorney, certified by the State and Federal government to act as an official and unbiased representative for the government of Mexico. A Notary in Mexico has far greater responsibility than a Notary in the United States. The Notary performs a variety of tasks including the authentication of legal documents, the calculation of capital gains tax and is responsible for ratifying ALL real estate transactions in Mexico. Any real estate transaction not ratified before a Notary and duly recorded in the Public Registry is considered invalid and not enforceable.
- Why is it important to have an experienced Closing officer
Mazatlan4Sale has experienced Closing Officers to closely supervise the integrity of the transaction from start to finish. Much like a title and escrow agent in the United States, the Closing Officer’s role is to coordinate all aspects of the sale process, working with the Buyer and Seller as well as their respective legal counsel or representatives designated for your closing process. The process involves applying or transferring a bank trust with a notary, getting all of the required documents in order and accepted such as utilities, homeowners, city hall, public property registry, accountants, immigration and possibly others depending on the status of the property in question.
- What expenses and Taxes do I have to prepare for?
Closing costs in Mexico are calculated differently than in the US, and the buyer pays all legal transfer fees and taxes which are tax deductible. The Seller has no responsibility in the sales process with exception to his/her own legal fees and payment of his/her capital gain tax which may be exempted if you have a Residency Immigration status in Mexico.
If you are selling to a National, you will have to pay the cancellation fee for your Bank Trust and any pending annual fees.
NOTE: All closing costs are tax deductible expenses for your capital gains tax when you sell your property.
- Apostilles:
When a document is to be used in a foreign country, it may be necessary to authenticate (Apostille) the notarization or certification. Foreign countries often require documents to be authenticated before the documents will be accepted in the foreign jurisdiction. An “authentication” certifies the signature and the position of the official who has executed, issued or certified a copy of a document. These may done at the US or Canadian consulate, as well as in the city and state of issuance in your home State. Documents that you need to Apostille may include a Will, a Death Certificate, or other legal documents needed depending on the status of the Deed.
- Accepting an offer:
Mazatlan4Sale will accept an offer in writing from the interested buyer along with a deposit check in the amount determined depending on sale price. Once the offer has been accepted by you, that non refundable deposit will be tendered as earnest money, and the process of the sale will begin
- Second Stage of documentation: Aside from the listing documents needed to sell your house, once you sell, there are further documents you will need for the closing such as:
- Remodel expenses to deduct from your capital gains tax,
- List of documents required by the notary ( this may vary with each Notary).
- Apply for Tax ID called RFC and CURP through Accountant.
- Immigration Status change ( “Residente Temporal” or “Permanente”)
- Getting your RFC (Tax ID) on your electrical bill.
- Need a 6 month and a 12 month old Electrical bill
- Last phone/internet bill (Telmex)
- Prorating HOA and Tax Bill according to closing date.
- HOA rules and Regulations
- Plan on legal severance payments for any domestic employees through Accountant.
- Have Fiscal Accountant calculate Closing cost of Capital Gains.
- Check what fees are due for Bank Trust annuity, cancellation, transfer or whichever applies.
- Request a non-lien letter from water company (Jumapam)
- Request an invoice Xml file from electrical company.
- HOA non lien letter.
- How soon will the sale close?
The process to the last day always depends on how fast the Bank works on your paperwork. First a Purchase Agreement has to be prepared with all the corresponding legalities of the sale, then signed by both Seller and Buyer. This agreement is sent to the Notario who prepares and sends the Letter of Instruction to the Bank. The Bank then sends the necessary documentation to Mexico city for review; any needed corrections will take time going back and forth so it is very important that the Realtor and Closing Officer get the initial process correct the first time. The time it takes the Bank to return the accepted process is never certain. At Mazatlan4Sale, our experienced Closing Officer can approximate the time according to which bank or institution has been used.
Once this takes place, the Notario prepares the addition to the original deed to include the details of the new buyer and purchase. During this time, the Notaries office also compiles all of the requested documentation. The sooner they receive it, the sooner they will finish.
Our closing Officer can approximate a Closing date, based on all the documentation and process needed of each specific property.
- When do new owners take possession?
When the closing dates is near, and you have made plans to vacate your house, a time and date prior to closing day can be set for an inspection with Realtor and new buyer. The keys may be turned over as soon as your final deposit has been received during the closing at the Notary Office and verified by both parties.