Verbal or written negotiations typically take place with the seller or through your real estate agent. 

This agreement, known as promesa de compraventa, convenio de compraventa, or contrato de compraventa, outlines the sale’s price, terms, conditions, and any specific payment arrangements or penalties for default.

Typically, a deposit of 5% to 10% of the sales price is required.

If the property is within the restricted zone, you’ll need to establish or transfer the existing fideicomiso. Remember that the fideicomiso should be renewed every 50 years.

You’ll be required to sign a statement indicating that you agree to Mexican property law governing your transaction.

The notary will oversee these processes, including the official valuation, which determines the property’s value for taxation purposes.

Complete the escritura (title deed) signing at the notary office and submit the final payment. This document serves as your official title to the property.

The notary will handle these financial transactions on your behalf.

Within three months, the property registration process will be completed and officially recorded.

Closing costs typically amount to approximately 5% of the purchase price. This  includes a 1.5% notary fee, a 2% transfer tax, fideicomiso setup fees, and additional miscellaneous expenses. These percentages are estimated and if you are obtaining a mortgage, the closing costs may be higher.  Your agent or the notorio may be able to provide you with an estimate, but remember, it is only an estimate.