selling your property
What We Offer Our Sellers
Interested in selling your property in San Miguel de Allende? Let us show you how our brokerage stands out from the rest, just like your listing will. The Kimmel Realty Group’s strategy for selling your property will include some of the following:
Marketing Your Property
- Evaluation of how to prepare your property in advance of it be placed on the market.
- Preparation of a pamphlet providing photos and details of your property.
- We will work with you to prepare a detailed explanation of the special features of your property with color photographs that will be linked to our website.
- Your property will be featured on our social media pages.
- We will send the link to your property webpage via e-mail marketing to agents and buyers on our proprietary lists (locally and globally).
- A For Sale sign with our logo and contact information will be placed on the property.
- We will hold open houses for your property for agents and buyers.
Seller Cost
- The Seller pays commissions for both the buyer and seller agents.
- Sellers also will pay any capital gains taxes if any are due. Kimmel Realty Group will find out what your capital gains tax will be for you by working with a notary at the time you list your property.
buying property in San Miguel
Information for Buyers
KRG is the only real estate brokerage in San Miguel de Allende, that brings to you experienced Mexican attorneys that will represent and protect your interests starting from the time of the initial offer through the closing of the sale. Without any additional cost to you.
The current market has picked up significantly and buyers must be prepared and capable to purchase a home when they start their search. Mexican laws and customs are normally very different from what foreign buyers are used to, and they can even be different from state to state in Mexico. Kimmel Realty Group is uniquely qualified to get buyers through each step of the buying process.
Purchasing Property As Foreigner
- No temporary or permanent immigration status is required in order for a foreign person to buy property in SMA. A foreign person can buy property in SMA with only a valid tourist visa.
- In SMA the buyer(s) name(s) are written into deed of the property. Thus, it is important to know in advance how you want to have the title held.
Some considerations: - Looking ahead to when the property will be sold, the law (as currently written) allows for a substantial tax exemption for every name on the deed (provided the named person is a Mexican national or a foreign person holding a temporary or permanent immigration status at the time of the sale).
- In the state of Guanajuato, it is allowed to place in the deed a “will” that specifies to whom the property is to be deeded if the owner or owners die.
- Main documents required for foreigners and Mexican national buyers: Passport, Visa, IFE card (Mexican voting card for nationals), and a document with mailing address.
- Particulars about the buyer will be required and questionnaires for the notary, escrow company, and accountant will need to be provided.
- Verification that the money used to buy the property is from a legal source.
- Generally, a Purchase and Sale Agreement will require a 10% initial deposit be paid into an escrow account shortly after the contract is signed. The balance of the purchase price and the buyer’s closing costs are paid several days before the closing. At closing, the funds are distributed consistent with the terms of the Purchase and Sale agreement and instructions of the buyer and seller.
- It is important to understand that the notary does not represent either the buyer or the seller in any transaction. SMA brokers and agents are normally not Mexican attorneys representing you in a legal capacity either. It is therefore advisable, particularly for buyers, to hire competent legal counsel to check the property’s chain of title, to check for liens, to review the new deed document that the notary prepares, and even attend the closing.
- On the closing date, the buyer, and the seller must appear before the notary so that the new deed and other relevant documents can be signed.
Buyer Costs
- Buyers closing costs are approximately 5% of the purchase price.
- In SMA, there is a state-imposed acquisition tax of 4% of the purchase price paid.
- The notary fees (to create the new need amongst other duties of the notary) are approximately 1% of the purchase price.
Learn more about the step-by-step details of buying Real Estate
in San Miguel with our Comprehensive Buyers Guide.
referrals
Are You a Real Estate Professional?
Kimmel Realty Group likes working with others! To best serve our clients, whether sellers are wanting to obtain the best price possible for their property or buyers looking for their perfect home in San Miguel de Allende (SMA), we are delighted to work with other real estate professionals.
Based upon our extensive legal and real estate experience both here in Mexico and in the USA, you can rest assured that when you refer a client to us, we will offer the most conscientious real estate service available in SMA. Contact us to discuss referrals fees that we offer to our real estate professional counterparts from all parts of the world.
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Get in Touch
Interested in working with us for your real estate transaction? Do not hesitate to contact us. One of our agents will be sure to be in touch shortly for a complimentary consultation.
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