IVA is Mexico's value added tax, applied to the sale of every product and service except real estate, food, medicine, and medical care. It works much like the sales tax charged in the US and Canada. In the context of your real estate deal, IVA doesn't apply to the property sale itself — but it is added to the fees and commissions charged by the lawyers, the notario, and the real estate agents and agencies. Mexico's IVA rate is 16% and has held steady there for many years.

Yes — asking prices are always open to negotiation. Buyers typically come in below asking, though when multiple offers are on the table, a buyer may go above it. A bit of knowledge about current market conditions goes a long way toward crafting a smart offer. We regularly publish current trends in our Market Update. In a hot market, final sold prices may average just 2%-3% under asking; in slower periods, the average can be closer to 10% below. Want to receive our Market Updates? Send us a message through any of our email forms and tick the "Receive Market Updates" box.

No. You will, however, need to grant a Power of Attorney (POA) to someone who can appear in person and sign for you on closing day. For buyers, there are occasional situations where someone may sign on their behalf as a gestor oficioso without any POA — but a seller must always have one. The POA can be executed either inside or outside of Mexico.

Normally, the registered deed arrives within three to five weeks. That said, Guanajuato's public registry runs with a small staff, so delays do happen from time to time — they can fall several weeks behind when, for example, an employee goes on maternity leave with no one to cover. That's why we usually quote clients a window of three to eight weeks.

No — you don't need a Mexican will to purchase property in Guanajuato. We do, however, strongly encourage you to get one shortly after buying. When an owner dies without a Mexican will, probating the property so heirs can take title can drag on for months or even years of expensive legal work. With a Mexican will in place, the timeline shrinks to weeks or a few months, depending on the circumstances. Also note that a will from another country has no effect on your Mexican property unless it's been translated and apostilled — and even then, pushing a foreign will through the Mexican courts takes longer than if the will had been drawn up in Mexico.

Technically, the right to choose the notario belongs to the buyer. If you work with us, we have notarios we know, trust, and prefer to recommend. In practice, though, sellers facing significant capital gains taxes sometimes "shop" their sale among several notarios until they find the one offering the most favorable tax outcome. When that happens, a seller might insist on a particular notario from the moment the home is being shown — or the issue may only surface during offer negotiations. The bottom line: while the buyer formally holds the choice, it's quite common for the selection of the notario to end up as one more point of negotiation between the parties.

A good rule of thumb is to budget up to 6% of the purchase price for closing costs. In practice, the total usually lands just above 5%, though for higher-priced properties it can climb to 6.5%. Typical closing costs break down as follows: - appraisal, transfer, and legal fees, plus the acquisition tax — all charged through the notario — which together come to roughly 6%. - $300 to $500 USD for the buyer's share (half) of the escrow fee. - $400 to $500 USD per foreigner named on the deed, for the SRE permit each must have in order to purchase. - Possibly a few hundred dollars more if any buyer needs someone to close on their behalf under a Power of Attorney (POA). A POA executed locally in Guanajuato usually costs under $500 USD. If it's signed and notarized abroad and requires an apostille or a visit to a Mexican consulate, the cost rises — but will likely still stay under $1,000 USD. - An additional $1,000-$2,000 USD included in your final transfer as a cushion against exchange rate movement, which affects the peso-denominated portion of the closing costs. Barring a dramatic rate change between contract and closing, most of this buffer is refunded to the buyer.

In Mexico, only a notario can close a real estate transaction.

MLS is short for Multiple Listing Service — the same system that's standard across the U.S. and Canada — which puts every listing within easy reach of all agents belonging to AMPI, the local professional association. We've now built the MLS directly into our own search engine, so when you use our property search tool, every MLS listing shows up in one convenient place — including those from other agencies.

IVA (Impuesto al Valor Agregado) is Mexico's value added tax, operating much like a US sales tax. The rate is 16%, applied to every product and service purchased, except food and medicine. It doesn't apply to the real estate transaction itself, but it is tacked onto the fees charged by lawyers, notarios, and real estate agents and agencies for their services.

No, you can purchase a property without one. That said, having a local account makes life much simpler for ongoing upkeep — paying housekeepers, gardeners, property managers, and the like.

Most agencies in Guanajuato charge a 6% commission plus IVA (value added tax). With rare exceptions, that commission is covered by the seller. Once collected, it is typically divided evenly between the seller's agent/agency and the buyer's agent/agency.

Yes — though as a rule it isn't a great choice, since it adds cost and complexity to the process. That said, there are a few alternative routes that may work for you.

The short version: exchange rate volatility between US or Canadian dollars and Mexican pesos. Your closing costs and acquisition tax are normally paid in pesos, and the MXN/USD (or CAD) exchange rate is famous for its occasional sharp swings. Any movement in the rate between signing your Contract to Purchase and the closing date gets baked into your final closing costs. Suppose your closing costs were estimated at $510,000 MXN when you signed the Contract to Purchase. At an exchange rate of 17 to 1, that's $30,000 USD. Now imagine that by closing — or even a couple of days before — the rate slid to 16.5 to 1. The dollar figure would rise to $30,909, meaning $909 USD more than you'd planned. The swing can just as easily favor you: at 17.5, your costs would come in $857 USD under the original estimate. That's why we usually ask buyers to send an extra $1,000 USD or more, scaled to the purchase price, as a buffer against rate movement. Whatever isn't needed gets wired straight back to your bank account.

Yes, that's an option. Just be aware that the city of Guanajuato requires an annual permit plus liability insurance, and charges yearly fees of roughly $20,000 MXN. Most clients hire a facilitator (around $100 USD) to manage the permitting. If you'd like, one of our rental agents can steer you in the right direction or introduce you to a facilitator.

We know of a handful of clients who have managed to notarize documents online for things like lease agreements and certain banking paperwork. That said, if the document must be notarized and apostilled for a property closing, confirm the requirements with your apostille service first — most of them will insist that you appear in person for the notarization. The notario may also require your physical presence.

Taxes aren't our area of expertise, so our advice is to consult your tax professionals. Remember that you could be answering to two tax authorities at once — Mexico's and your home country's. Many owners also find it useful to compare notes with fellow homeowners about how they manage rental income and expenses both here and back home.

To protect yourself from fraud: after receiving the wire instructions you'll use to send your deposit and final payment to the escrow company, call your agent and confirm every detail of those instructions verbally before sending any money. The wire instructions will remain identical from your first deposit through closing. Never act on revised instructions that arrive by email or text.

In short: yes, it's possible. Still, we seldom recommend going this route, and most of our clients ultimately decide to hold the title personally. The biggest reason is that foreign entities receive no homestead-style exemption from capital gains. When the time comes to sell, your 401K or LLC gets hit with the maximum capital gains rate — up to 35% of the gain, or up to 25% of the entire transaction. On top of that, the paperwork for an entity purchase is fairly burdensome: every document related to the 401K or LLC must be both notarized and apostilled.

Mexican wills must be written in Spanish and signed before a notario. The cost is quite reasonable compared to a will in the U.S. or Canada. Most notarios offer a simple fill-in-the-blank template, well suited to clients who own only one or two properties in Mexico and intend to leave them to family. The format identifies you, your heirs, an executor, and substitutes — covering the possibility that an heir passes before you or that a named executor is unavailable or declines. Typically, the notario asks you to handwrite the will, which they then translate into Spanish. At signing time, a translator reads it back to you before you sign, and the handwritten original stays in the notario's records. To prevent any conflict between your Mexican will and one you already hold in your home country, we suggest your Mexican will state plainly something like: "This will applies only to my property in Mexico." Your notario's standard form may already contain such a clause. Also worth knowing: a Mexican will does not cover bank accounts. Beneficiaries for your Mexican accounts must be designated directly with the bank when you open them. Whether your circumstances are simple or complex, connect with one of our agents — they can assist you or refer you to a specialized attorney.

Buying property in Guanajuato is a reasonably straightforward process. Once you've settled on your favorite property, your agent prepares a written offer to purchase and delivers it to the seller's agent. The offer spells out the proposed price along with terms like how long the offer stands, an inspection request, the preferred notario, deposit and escrow requirements, the closing date, and similar details. The seller may counter on price, closing date, or any other term. Some offers are accepted on the spot; others bounce back and forth several times before both sides reach agreement. When the offer is accepted, buyer and seller either sign the original document with the negotiated changes noted, or a clean version incorporating all revisions is drafted and signed by both. Some parties proceed to closing on that offer alone, but it's common for one or both to ask the notario to prepare a more formal Contract to Purchase based on the final terms, which both parties sign as well. With the Contract to Purchase signed, an escrow account is opened — and everyone signs the escrow agreement too. Next comes the inspection. The contract usually sets a specific window for the buyer to complete the inspection and send the deposit. Our agency generally works to get the inspection done and the results delivered before the buyer wires the deposit. Once the inspection report is in and accepted, the buyer transfers the deposit into the shared escrow account — typically 10% of the purchase price plus half of the escrow fees. That 10% deposit is what officially places the property "under contract," ending showings to other prospective buyers. Until that deposit lands, however, showings can continue. If a competing offer arrives during this window, it's usually held as a back-up in case your deal falls apart. While the inspection and deposit are underway, the notario simultaneously prepares — and asks you to sign — the permit that foreign buyers must have to purchase in Mexico, commonly known as the SRE permit. As closing nears, your agent works with the notario to finalize your closing costs and determine the total you'll need to wire to the escrow company. That final transfer covers the remaining 90% of the price, your closing costs, and a cushion for exchange rate movement. As a rule, the escrow company must receive it three to five days ahead of closing. Only the day before closing can the notario "fix" the exchange rate to be used — the rate needed to pin down both your exact closing costs and the seller's capital gains tax. With those figures locked in, the agents draft the distribution of funds document that buyer and seller will sign at the closing table. At closing, the seller's side must present several documents. First is proof that any household employees who worked at the property were formally terminated and paid their legally required severance — protection for the buyer against inheriting labor disputes or liabilities. Receipts showing property taxes and utilities as paid are presented too. Any unpaid amounts are prorated between the parties and added to or deducted from the distribution of funds. Both parties then sign the new deed, along with a "know your client" form the notario requires. When everything is signed — deed and distribution of funds included — the notario securely forwards the documents to the escrow company and authorizes payout under the agreed terms. Before leaving the closing, you'll receive a simple copy of your new deed. The registered version arrives three to eight weeks later, once it has been accepted and recorded at the public registry. As we like to say: closing isn't rocket science, but it does involve plenty of hoops and rules that change often. Our agents stay on top of every change, are thoroughly trained in the full process, and work alongside our in-house closing specialist to keep things running smoothly. Count on our experienced team to answer your questions and safeguard your interests from the first step through closing.

It's never too soon to connect with one of our agents. While some clients buy a home on their very first visit to Guanajuato, many others are still working through the many decisions surrounding retirement or an international move — a process that can stretch across months and often several trips. Even if your decision is months off, meeting with one of our agents now can pay off. Let them tour you through the neighborhoods that might fit your lifestyle and wish list. Then, as you keep browsing our website for prospective homes, you'll already know which areas appeal to you — and you'll have a relationship with someone glad to answer your questions along the way. We want to be part of your journey and keep you supplied with accurate, current information at every stage.

Usually — though not always — the notario will take cash for closing costs. If that's your preference, let your agent know and they will coordinate directly with the notario.

Some buyers do occasionally cover part of their purchase in physical cash. Keep in mind, though, that since anti-money-laundering rules were tightened in 2014, notarios must legally document the form of every payment or partial payment — wire transfer, cash, cashier's check, and so on. There's also a legal ceiling on how much cash can be used, and it has been rising over time. As of 2023, that limit stood at $800,000 MXN; any cash payment above it triggers a mandatory report to SAT (Mexico's counterpart to the IRS). Sellers who plan to keep living in Mexico after the sale are often open to taking part of the price in cash. Those relocating abroad, however, generally won't accept any cash portion at all. If you'd like to use physical cash for part of your purchase, speak with one of our agents to confirm you're within the legal limits and that the notario closing the deal is on board.

Opening a Mexican bank account requires holding either temporary or permanent residency (residente temporal or residente permanente). Both are reasonably easy to obtain for those of retirement age with income from their home country. If you qualify, applying straight for residente permanente is the smarter move — it never expires, whereas residente temporal must be renewed, which raises the cost over time. A word of warning: US citizens whose foreign bank accounts hold more than $10,000 USD at any point in the year must file an FBAR report with the US Treasury the following year, and penalties for missing it are steep. Many property owners therefore keep their Mexican account balances below $10,000 USD. Ready to apply for a visa? We can point you to trusted visa specialists — just get in touch with one of our agents.

A number of agents within our team offer property management services independently. Ask any of our agents for an introduction or their contact details. Note that when handling property management, these agents operate on their own, separate from the agency.

All foreign buyers in Mexico need an SRE permit, issued by the Secretaría de Relaciones Exteriores. A bank trust, however, is not required for purchases in Guanajuato — here you can hold the fee simple title directly.

Much like the homestead exemption in the U.S., the capital gains exemption reduces the capital gains tax you'll be charged. To qualify, sellers must satisfy a set of criteria, and the exemption amount is tied to a Mexican financial index whose value shifts over time. For the full list of criteria and other specifics, see The In-Depth Answer.

The In-Depth Answer Setting up a power of attorney (POA) — which authorizes another person to sign the purchase or sale of a property in your place — involves a few steps. 1) Our standing recommendation is that the POA be prepared by the notario closing your transaction, or by one of the attorneys in their office, guaranteeing that the wording will be accepted by the notario when closing day arrives. 2) If you're in Guanajuato, the notario's office can draft the POA and you simply stop by to sign it. It will be written in Spanish, but if you don't speak the language, a translator will be brought in on signing day to interpret it for you. For buyers and sellers alike, the document will likely include wording that lets the POA holder sign not just the deed but also the escrow company's distribution of funds. 3) If you're away from the city, the notario drafts the document and sends it to you, and then: a. if you're American or a citizen of a Hague Convention country, you'll get it notarized and then apostilled; b. if you're Canadian, from a country outside the Hague Convention, or simply close to a Mexican embassy or consulate, you'll bring the document there and sign in front of a consular official. 4) For buyers abroad who didn't sign the SRE permit application while in Guanajuato, the POA will likely also authorize someone to sign that application in their place.

Absolutely. Any of our Realtors can show you any property you come across on any other website — we're all active members of the local Realtor association (AMPI). What's more, we've now built the MLS directly into our own search engine. When you use our property search tool, every MLS listing appears in one place, including those belonging to other agencies. Our advice: meet and get acquainted with one of our agents. Rather than steering you only toward their own listings or our agency's inventory, they'll show you whatever best matches your needs. They've usually toured many other listings, know which ones might suit you, and can offer an informed opinion on whether a property is priced fairly.

An apostille is a certification, established by international treaty, that validates a legal document signed in one country so it can be used in another. In the US, obtaining one is simple — through each state's Secretary of State (or the equivalent office), or via an online service.

Mexico's resident visas fall into two main categories: residente temporal (temporary) and residente permanente (permanent). Both call for proof of either a minimum monthly income or a set amount held in your bank account. For anyone who can meet that financial threshold, they're generally not difficult to get. The application has to begin outside of Mexico, at a Mexican Consulate. You book your appointment online and then appear in person to file. Approval usually comes within 30 days — at some consulates, even the very same day. After approval, you have a few months to present your approval letter at the immigration office in Guanajuato, where your photo ID visa will be issued. Some of our clients have finished the process after already arriving here, by booking an appointment at the Mexican Consulate in Laredo, Texas. They ride the overnight bus to Laredo, attend the appointment, get their approval letter that same day, and head back. While the visa process is fairly straightforward, every Mexican Consulate handles things a bit differently, and the rules have shifted often in recent years. We suggest meeting with one of our agents, who will put you in contact with a visa specialist. These professionals stay current on rule changes, book your appointments, and help assemble the necessary paperwork. Their fees are usually modest — typically just a few hundred USD — and worth every penny for the time and hassle saved if a key requirement has changed.

The commission is paid by the seller — it's not an expense the buyer has to be concerned with.

Every foreigner who wants to buy property in Mexico must hold a federal government permit. It certifies that you are legally in the country and documents your status, and it also declares that, as far as owning the property goes, you will be treated the same as a Mexican citizen. The notario applies for the permit on your behalf; processing runs a few thousand pesos. It's commonly called an SRE permit, since it is issued by the Secretaría de Relaciones Exteriores (Secretary of Foreign Relations). Because each permit is linked to one specific property, you can't request it until a home is under contract — and you must have it before closing. All of our agents know this process thoroughly and are happy to help if you'd like to get in touch.

The following documents must be given to the agent who represents either the owner or the tenant. For Renters: • ID • Evidence of sufficient financial capacity to cover the rent • Some landlords will also run a routine background or credit check before agreeing to rent. For Owners: • ID • Proof that you own the property (typically a copy of the deed) • A Telmex or CFE bill matching the property address.

Deciding whether to add your spouse, partner, or children to the deed is a personal decision, usually guided by your broader financial planning. That said, as a general rule, the more people on the deed who hold Mexican residency, the more tax exemptions you can stack. And if your sale price exceeds the exemption threshold, having more names on the deed translates into a smaller capital gains bill when you sell. Unless there's a compelling reason not to, we usually suggest adding your spouse or partner as a co-owner — and in some cases, your children. One caution, though: think twice before naming minor children on the deed. Selling a property partly owned by a minor requires a judge's authorization, which is seldom granted.

In Mexico, a notario is nothing like a notary public in the US. Beyond holding a law degree, a notario must complete further specialized legal training focused on the duties of the position, and must even compete to earn the title. Notarios are appointed by each state's governor, with the number based on population. Unlike ordinary attorneys, only notarios have the authority to formalize and record real estate transactions, wills, and other legal instruments. The records they produce remain in their office permanently and belong to the state. The law also requires notarios to remain impartial in every transaction they handle.

Not at all. Annual municipal property taxes in Guanajuato are quite low — for a median-value home, they come to only a few hundred dollars per year. Paying before the end of January earns you a 15% discount. The tax is known as the "predial," and assessments are handled by the Predial Office.

For Mexico to recognize it, a document notarized in the US or Canada must additionally be apostilled or notarized at a Mexican Consulate.

Mexico does offer financing to foreigners, but it adds complexity and expense to the transaction. A "good" mortgage rate here hovers around 12%, and financing can push your closing costs up by an additional 2% to 6% — on top of the standard closing costs of up to 6%. While a lender might occasionally accept 20% down, most expect roughly 40%. Some alternatives worth considering: The majority of our clients who need funds choose to refinance or take a second mortgage on a home they already own in the US or Canada, freeing up cash to buy in Guanajuato. Securing a loan is far simpler outside of Mexico, and the rates are considerably lower. Now and then, a seller is open to financing at a rate close to (or slightly above) US mortgage rates. We've occasionally seen sellers finance for 7 to 15 years, though most only offer some form of "bridge" arrangement lasting one to five years. The structure might be a loan amortized over just the term itself, payments amortized as if it were a 20-year loan with a balloon payment at the end, or interest-only payments with a balloon due when the term expires. Also, most sellers cap their financing at 50% of the property's value or less — meaning the buyer must bring at least half the purchase price as a down payment.

Any foreigner buying property in Mexico must first obtain a federal government permit. The notario handles the application for you, though processing costs a few thousand pesos. Realtors refer to it as an SRE permit because it is issued by the Secretaría de Relaciones Exteriores (Secretary of Foreign Relations). Each permit is tied to a specific property, so you can't apply for one until you have a home under contract. The permit must be in hand by closing. Our agents know this process inside and out and are glad to assist — just reach out.

No, your physical presence at closing isn't required. You will, however, need to grant someone a power of attorney (POA) so they can sign in person on your behalf on closing day. These POAs are typically prepared by one of the attorneys in the notary's office and, unless stated otherwise, also authorize the holder to approve the release of funds from escrow. Executing a POA locally in Guanajuato is straightforward, cheaper than doing it abroad, and usually needs only a day or two of advance notice for the notary to prepare it. Buyers can sometimes have someone sign for them as an officious agent without any POA at all, but sellers must always have one. The POA can go to a trusted friend or relative, and some clients prefer to name one of the attorneys at the notary's office. Whether you sign locally or from abroad, we suggest having your real estate agent coordinate with the notary or one of their attorneys to draft the POA, ensuring the notary will accept the wording without changes on closing day. A POA prepared by a local notary will be written in Spanish. When you visit the notary's office to sign, a translator will be on hand to interpret the document if you don't speak Spanish. Completing a POA from Outside of Mexico If you're abroad, have someone at the notary's office prepare the document. It's often sent to you with English on one side and Spanish on the other. Once it arrives, you have two paths: Option #1: If you live in the US or another Hague Convention country, print the POA the notary provided, have it notarized by any local notary public, then get it apostilled and send it by overnight mail to your agent or the notary. If there's a Mexican consulate near you in the US, you can simply have the document notarized there instead. Option #2: If you're in Canada or another country outside the Hague Convention, you'll need to visit a Mexican Consulate to have the notary's document validated. Every consulate has its own rules and timelines — some will redraft the document and have you return days later to sign, while others will work with the version you bring. Check the requirements with the Mexican Consulate closest to you. For buyers, beyond authorizing someone to sign at closing, the POA can also empower a person in Guanajuato to sign for your SRE permit and for the escrow distribution of funds. Stay in close contact with your agent, who can walk you through every step.

Escrow is a joint financial account between buyer and seller from which no money can be released without both parties agreeing. In Mexico, these funds sit in an account safeguarded by a legal trust agreement. The earnest money deposit (typically 10% of the transaction value), the remaining balance due before closing, and the closing costs are all wired into and held in this account. At closing, both parties sign off on how the funds will be distributed among everyone involved. Once everything is finalized, the notario forwards the distribution document to the escrow company and authorizes the release. The escrow company then wires the money accordingly and sends confirmation of the transfers to the notario and the agents.

An apostille is a certificate that verifies all of the following: - that the signature of a public official (a notary public, for instance) on a document is genuine, for use abroad, - the official capacity in which that person signed, and - where relevant, the authenticity of any seal or stamp on the document, such as a notary seal. Apostilles are generally issued by the Secretary of State (or equivalent office) of the state where the document was signed. Every country that joined the Hague Convention accepts them — and both Mexico and the US are signatories. There are at least two routes to getting a document (a power of attorney, for example) apostilled. 1. The do-it-yourself route: have a notary public sign and seal the document, then mail it or bring it to your state's Secretary of State office (or equivalent). They confirm that the notary you used is licensed and legitimate, usually by attaching a verification page. Going this route, the apostille typically runs $10-25 USD, plus a small notary fee of around $2-25 USD. 2. Depending on how far you live from your state's office, an apostille service may be faster, more convenient, and possibly even cheaper. These services often come to your home or meet you somewhere public to notarize the document, then submit it to the State Department for you. Expect fees starting around $300 USD. Whichever route you choose, search online for "apostille" plus your state's name and several options will appear. If time is tight, call the State Department or the apostille service directly — we've seen official websites advertise 7-day turnarounds while the actual backlog, when you call, turns out to be three weeks. Because Canada never signed the Hague Convention, Canadians (and citizens of other non-signatory countries) must instead have their POA authorized at a Mexican Embassy or Consulate.

Inspections are a relatively recent addition to the buying process in Guanajuato. For years, homes changed hands strictly "as is." Eventually, Realtors began encouraging inspections so buyers wouldn't unknowingly inherit serious defects. Inspections are now standard practice, though they still don't quite match US standards. Most inspectors will catch the big problems, but they may overlook smaller details that a US inspector would flag. Buyers can negotiate with sellers over defects, but realistically only major issues tend to get resolved — minor ones usually fall to the buyer to fix on their own. Local inspectors don't carry insurance, so don't expect compensation if something slips past them. On the bright side, plumbing, electrical, and paint repairs here cost only a fraction of what they would in the US or Canada.

Technically, a buyer could pay closing costs in US dollars. The catch is that the notario must settle all the associated fees and the acquisition tax in Mexican pesos (MXN), which means your dollars would have to be converted. Notarios tend to apply a rather unfavorable exchange rate to protect themselves against any sudden swing in the market. For that reason, paying everything in pesos almost always works out better for the buyer. On closing day, the escrow company converts your USD or CAD into the exact amount of pesos needed for the closing costs, using that day's exchange rate.

Yes — even when a home is offered strictly "as is," we typically advise getting an inspection so you don't unknowingly take on a serious problem. The one exception is when you plan a complete or major renovation, since most of the existing systems will be replaced or upgraded regardless.

Yes. The local Realtor Association (AMPI) operates an MLS. In fact, a property has to be entered into the MLS before it can be presented at AMPI's weekly network meetings or circulated through the agents' email group. Every listing we take is uploaded to the MLS, giving the association's 240+ member agents full access to it.

Paying your property tax (known as el predial) is fairly simple. One option is to pay online through the municipal government's predial payment portal. There you select your account type (urbana or rústica), which appears at the top of your predial statement. Next you enter your "número de cuenta" — also printed at the top of the statement. Be sure to begin with the first letter and then include the remaining digits; the full number should be 10 characters. From there you can pay through the banks listed, or print the banking details and pay at the bank of your choice. Alternatively, you can pay in person at one of the predial cashier windows located in the municipal government offices during regular business hours.

Typically, you write the will by hand in your own language, and the notario then translates it into Spanish for you to sign. Compared with the US or Canada, the cost is quite low — usually a few hundred dollars, and normally under $500. Most notarios offer a straightforward fill-in-the-blank template, which works well for clients who own just one or two properties and intend to leave them to family. You may also want to read "How do you recommend we make a will?" in our FAQ section, or get in touch with one of our agents for further assistance.

No. In Guanajuato, a bank trust is not required — foreigners can buy property here and hold the title directly in their own name. A bank trust is only mandatory for foreigners buying property located within 50 kilometers of the coast or within 100 kilometers of an international border. Holding property through a bank trust can significantly raise your closing costs, and the trust itself carries annual maintenance fees of roughly $500 to $1,500 USD. One of the advantages for foreign buyers in Guanajuato is precisely that no bank trust is needed to own property here.

A good rule of thumb is to budget up to 6% of the purchase price for closing costs. In practice, the total usually lands just above 5%, though for higher-priced properties it can climb to 6.5%.