Real estate transaction costs by means of a direct transfer will typically have three costs. A 1.5% fee in transfer tax, 1% in register stamps and usually a 1-1.25% in legal fees for attorneys or notaries.
This may vary if the transfer occurs through a public deed where there is a direct transfer of title or an indirect transfer through selling stocks or transferring the insured capital stock of the company owning the property.
If this is the case, a 1 to 1.5% fee will have to be paid as transfer cost in addition to the 1-1.25% in legal fees.
Real estate transaction costs are difficult to understand specially for a foreigner, that is why we are committed to help our clients in anyway we can and refer them to a good attorney who can help them.
Also available in: Español