Real Estate - expenses on top of sale price

[cayayine]

Realistically speaking, what is the normal rate for expenses on top of sale price? I'm told 16% of sale price is the normal rate for buyers, sellers fees, personal attorney, notary and cueva for international transactions. But I'm also seeing people say it's usually 10-12%. Would love feedback from people who did buy property here, with funds sent from abroad.

 

[nikad]

If you bring the money in the country legally it is closer to 10-12%, bank to bank.

 

[Ronnie Hotdogs]

Cueva is 4-6%
Commission to the real estate thief is 4% + IVA
Notary fees are 2% of what’s on the escritura.
Various other fees that I can’t remember can probably take it up another 2%

So it’s something like what you say .

If you calculate 16% and it comes in lower you’ll happily pocket the difference…

 

[LuckyLuke]

If you bring the money in the country legally it is closer to 10-12%, bank to bank.

This. If you are a resident you can repatriate the funds into your USD account here via bank to bank wire, paying only a small transaction fee.

I paid 7% total for my closing costs and wire fees.

 

[on the brink]

10% of the purchase price is usual
Official notary fees are 2%, but many accept 1%. Ask around.

 

[barg]

I was wondering if elimination of the cepo would also lower the cueva/currency charge for foreigners bringing USD into the country. Anyone know?

 

[LuckyLuke]

I was wondering if elimination of the cepo would also lower the cueva/currency charge for foreigners bringing USD into the country. Anyone know?

Cuevas make their transactional earnings daily. It involves buying dollars at below market value and selling at market value. The spread is their profit. If the spread narrows, then that is your discount.

 

[Jimbob]

Could you not simply buy usdt at a marginal cost and then withdraw the cash here? I payed 0.5% to with draw $1000+ dollars through a local cuerva last week, 0.25 for sums of $5000+. Surely you could just deposit that into a dollar account here or some safety deposit box?