Closing costs for New Developments in Playa Del Carmen

konablacksand

Member

Member since 10 May 2021

konablacksand

10 May 2021 03:14:49

konablacksand

10 May 2021 03:14:49

Hi Everyone:
I am buying a new construction in Playacar and I was told the closing cost would be 2%. THis comes out to like $27K and I am wondering WTF this closing costs entails since I am supposed to be buying directly from the developer's sales office. My question to the forum is this high closing cost typical for new construction in Playacar? I am not used to seeing buyer closing costs since the seller is the one who pays the closing costs but I digress this is Mexico not the U.S.
Appreciate all insights. Thank you.

Kat11

Serial expat

Member since 01 January 2016

Kat11

10 May 2021 11:33:32

216

Kat11

10 May 2021 11:33:32

216

In Dominican Republic they charge a 3% transfer fee for an existing condo/or villa and new construction this fee is usually waived. But we bought a new $300k condo on the beach so didn't pay fee. If your paying 27k I guess your spending $1.3million on place... Wow I thought Mexico was supposed to be cheap for real estate.