Aug 062010
 

selling home san carlos mexicoSelling your Home in San Carlos Mexico: if you are considering selling your home in San Carlos Mexico, then I can probably guess what is running through your mind, “How much can I get for my home?” and, “How much is this going to cost me?” Like the US, the real estate market here is softer than it was a few years ago. There is currently a large inventory of homes, condos and land on the market which means buyers have a lot of choices and sellers have competition.

If you are serious about selling your property, the most important thing you can do is price your home properly while working with a real estate agent. A licensed Realtor not only provides you access to the MLS, but they are familiar overall with San Carlos and other properties on the market. A licensed Realtor will provide you with a comparative market analysis, and educate you on other properties for sale in your area and price point. They will also advise you on how to get your home market-ready, network, advertise, put your home on the monthly MLS brokers tour and showcase your property on various real estate related websites.

Being that over 97% of all home buyers begin their search on the web, you want to make sure your home has good internet visibility. Apart from marketing, your Realtor will also oversee your paperwork, coordinate with the Notario and bank to help keep the trust process on track from start to finish.

The cost to sell your home can vary, however, generally speaking it is around 10% of the purchase price. Real estate commission is normally 6% plus IVA which is split evenly between the selling and the buying agent. The 3% is then split again between the broker and agent and from that, all marketing costs are deducted. In addition to the commission, the seller is responsible to pay for capital gains taxes on your property.

There are legal ways to reduce your capital gains. Again, your real estate agent can advise and assist you in this area. When considering which agent to use, find someone who has a good understanding of your property, of the San Carlos market and all Mexican real estate procedures.  It is OK to interview different companies and find the person who is the best fit for you. They will prepare a summary of what is on the market, and suggest a price point for your home. By interviewing more than one company, you will get a sense of how different agents work and their unique approach to selling your property. Good luck and happy selling!

by Lauri Cooney,
Licensed real estate professional

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