WHAT DOCUMENTATION DO I NEED TO HAVE SO LAKE CHAPALA REALTY MAY PROMOTE MY PROPERTY FOR SALE?

• A full copy of the deed, including the annexes at the end of it:

1. “Transmissions Patrimoniales”          “Outline of Property Boundaries”
2. “Avaluo (government appraisal)”      “Boleto Registral (Public Registry Document)”

• Predial (Property Tax Receipt), for the current year: To verify that the construction is manifested and the correct address.
• Water Receipt, without debt, and for the current year.
• Maintenance fees of the subdivision/condominium and the Regulation (it applies)
• Copies of the last 3 receipts for electricity, telephone/internet. It is recommended that if there are 2 owners, the light be put in the name of one and the telephone the other. Receipt for cable or satellite TV (if applicable).
• Mexican Citizens: Valid IFE or valid Mexican passport
• Foreigners: A copy of your temporary residence or permanent residence and a copy of the passport (photo and signature) – check the expiration dates.

IMPORTANT: The permanent residency credentials must be obtained before the deed to apply the Income Tax as if it were national or to exempt the payment of the Income Tax. (A house can be exempted every 3 years).

• CURP printed      RFC printed
•  Constancia Fiscal: For the seller to exempt capital gains their SAT registration is required
• Power of Attorney (if applicable). It must be prepared by a Mexican Notary. If done outside of Mexico: The Power of Attorney must be certified by the Mexican Consulate or Apostilled by the Secretary of State, to be able to sign on behalf of the owners, regarding that particular property.

IMPORTANT: The address of the Owner in Power must be the same as the property that is to be sold and exempt from the ISR.

• Copy of the manifestation of construction.
• Copy of alignment and exterior number (in case of land, new house, or subdivision).
• Copy of the house plans or polygon delimitation of the land. (if applicable)
• IMSS settlement: MANDATORY for houses from 0 to 5 years old.
• General information sheet of the Seller(s). If the Seller is married (for joint property), both spouses MUST fill out the general information sheet and both must sign all documents.
• Copy of the Marriage Certificate.
• In case of being the product of an inheritance Copy of Probate.
• Furniture inventory in writing, (if applicable you must include address and date). All pages must be signed by the Seller (s).

Once the Seller sends us the requested documentation (preferably scanned and via email), we will proceed to prepare the following:

• Commercial Analysis: We will prepare an Opinion of Value that includes:

1. 1. Assessment of direct physical value
   2. Land surface check according to the deed
   3. Construction (separate the surfaces and values of the main house, parking area, terraces, casitas, warehouses, swimming pool, etc.)
   4. Supported by a Comparative Market Analysis (CMA) based on the law of supply and demand in the area, using properties currently on the market and properties sold
   5. Sales Statistics: Current market comparison based on similar properties sold in the same area and/or with similar quality.

• Legal Analysis: We will verify that all the documents of the property are to avoid delays and/or complications from the beginning of the process.
• Capital Gains Tax Analysis: We will inform you how to exempt income tax, and if that is not possible, we will guide you so that the payment is the minimum possible within the legal framework.

The estimated market value of your property can be obtained from the Opinion of Value done by one of our agents. The value that the consumer market is willing to pay at that time, the average value of nearby properties similar to yours is also a factor to consider, known as Comparative Market Analysis.

1. The person has not obtained in the last three years the benefit of exemption from income tax on the sale of another property.
2. If the property is worth less than 1,500,000 UDIs (investment units) equivalent to 7 million 163,000 pesos, may waive the tax.
3. If the home exceeds the limit value, you will need to verify that you lived at least three years in the property.
4. One has to show receipts for each year before the sale as utility bills, phone, bank account, or departmental cards.
5. The vouchers must be in the name of the owner of the house, your spouse or parents or children (parents or children of the owner).

Fees vary depending on whether the property is a house/condo or lot, and depending on the value of the property. Please consult one of our agents to find out what fee applies to your property.

No, the usual practice is that the buyer covers these costs.

A “Notary Public” is an attorney authorized by the state government to act in all legal forms on all closures and sales of real estate. Collect taxes on the sale of property, certify all legal documents, etc.

A LAKE CHAPALA REALTY agent can help you choose a notary. If you are the buyer, the Notary will ensure that the property you are buying is free from any encumbrances (including taxes due). Also, a title search is performed to make sure that the property is correctly registered in the Public Registry office.

By contacting one of our agents to make a formal offer on the property you are interested in purchasing.

Receive all the advice of our Agent to be sure that the property has no debts or encumbrances.

Hire a notary and set a date for the closure of the sale transaction.

Yes, you will have to pay a transfer tax (2%) of the appraised value. This will be included in the notary fees. Also, if you have created a trust, the bank you selected will charge annual fees to manage the Trust.