Frequently Asked Questions for Sellers. Realtor Vallarta
Q: What time of year is the best time to put my property on the Market?
A: In Puerto Vallarta there are 4 distinct selling seasons:
1. July-October has several classes of buyers coming to Vallarta. It is high-season for Nationals; Educators and families traveling with children; Retirees who prefer to travel in otherwise offseason.
2. November-February is the high of the high season for North Americans. It is cold up north and
people want to get away to some warm weather.
3. March-April brings those who want to get away before the busy high-season arrives
4. May-June are the shoulder season travelers. Rates are lower, and occupancy is moderate.
Q: Is it better to look for an agent or the agency itself?
A: Both. Look for an Agency that is well established and well known. This can all be done on-line, which will enable you to find out how well they are located in the search engines anyway. This could enhance your property’s visibility to prospective buyers.
Once you have found several agencies you like, look at their agents, read their profiles and pick the ones you feel drawn to.
Then, search their names and see what comes back. Again, this could work in your favor if they are also well positioned on-line.
Q: How long will it take to sell my property?
A: Ask your agent for statistics for your type of property in your area.A comprehensive statistical report is invaluable to help with pricing your property for the maximum result. The Days on Market (DOM) are directly related to List Price.
Q: Will I have to pay capital gains?
A: Your agent should request an opinion of your capital gains tax position from a Notario Publico in the area. This will be an estimate as the actual tax would depend on the actual sale price and of course the exchange rate at that time if the sale is in USD.
Q: How long does it normally take to close after I have an accepted offer?
A: That depends on several factors, but generally speaking, it can take from a few weeks if there are no bank trusts involved, up to 4 months if there is bank financing. Usually we see 60-90 days on average.
Q: When will I get my money?
A: At the closing with the Notario Publico, if an escrow account was used (most transactions involving foreigners will use an escrow company), a “letter of distribution” showing where and to whom the funds will be sent, i.e. taxes, real estate fees, seller closing costs, will be the last document signed.
The first pages and the last page of the new “deed” along with the “letter of distribution” will be sent to the escrow company and they will process the transfers. Depending on the time of day and whether all other required documents, such as IDs, and the buy-sell agreement, had been previously sent, the transfer could be realized that same day or by the next business day.