Excellent news for foreigners wishing to purchase property in the Mexican federal area, due to various appeals against excessive tariff by the office of the public property registry, its tariff has changed. It has stopped charging the amount of 5 per thousand on the highest value of the transaction, between the amount of the transaction, cadastral value and commercial value.
Now that rate was removed and is based on a flat rate of $2000 Pesos, regardless of the value of the transaction. Plus other smaller amounts that are taken for consideration as the number of properties being purchased, registry seal, notes i.e. on a $500,000 Dlls. transaction the registration fee to ICRESON was $3,636.00 Dlls. and now with the new flat fee, the fee will be approximately $300 Dlls.
Other good news is that the city has not changed their cadastral values on urban areas.
Title & Trust Legal Services in Association with Georgina Ross & Broker Owner of Georgie’s Realty. From USA: (520) 269-3789 or 638-388-5322.