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FAQ
Frequently Asked Questions For Buying a Home in San Miguel de Allende
Are there any additional costs to buying a home here above that 5.1%?
The only other costs outside of the above-noted closing costs are:
- The SRE permit (a property-specific permit to purchase property as a nonMexican) which is currently about 9,000 pesos for each person to be named on the deed. This is paid to the Notario at the time of signing the SRE permit application and is a simple, rubber-stamp application taking a couple weeks to process.
- The inspection fee of $300-$400 USD, which is typically paid in pesos in cash or wire transfer directly to the inspector.
- The total escrow account fee—currently $750 USD, depending on the number of distributions—is split between the Buyer and Seller, as in the U.S. That would be an additional $375 USD cost to you.