Selling Your Home in Cabo San Lucas – Everything You Need to Know

Paul Goldsmith  |  February 16, 2023

Selling Your Home in Cabo San Lucas – Everything You Need to Know

If you own real estate in Cabo San Lucas, you know the joy of living in a friendly environment surrounded by natural beauty and exciting activities. Now the time has come for you to sell your slice of paradise and move on to another dream come true.
 
Selling a home in Cabo San Lucas is similar to the process in the United States, but there are a few key differences. Before you can list your home, you'll need to consider what documents and paperwork you'll need to include, define your financial expectations, and select the right real estate agent for your needs. You'll also want to be familiar with the different laws, taxes, and regulations in Mexico that could affect the sale of your home. Taking the time to understand the process will help ensure a successful sale.

Absentee sales



If your home in Cabo San Lucas is your vacation home, chances are, you won't be able to be in the area to navigate the process and sign paperwork. Working with a trusted local real estate agent will be crucial for you. Take the time to research the real estate agent and ensure they have a record of successful transactions in Cabo San Lucas. Your real estate agent will be responsible for marketing your property, setting up showings, verifying the seller, and securing all the necessary documents without your direct oversight. When you work with an experienced real estate agent, the process will be smooth, and they will keep you informed.

Laws and taxes



As you found out when you purchased your home in Mexico, the laws and tax structure are different than in your home country. You will be taxed for selling your real estate, and you need to understand the local regulations and rules surrounding the sale of the real estate. Additionally, you need to be aware of any capital gains taxes that may apply to the sale of your home, as this may significantly affect the overall value of the sale. It is important to research the local laws and regulations surrounding real estate transactions before taking action, as this can help you avoid unnecessary fees or penalties.

Proper documentation


Like selling a home in the United States, you will need to have your title, insurance, and all the documents proving ownership ready before you list the home. These documents include:

 
  • Original Deed – Escritura Original
  • Official Identification – Identificacion Oficial: your passport
  • Cadastral Certificate – Cedula Catastral: the assessed value of the land and building
  • Last Property Tax Receipt – Ultimo Pago Predial
  • Certificate Free from Liens and Encumbrances – Certificate Libertad de Gravamen: prove that there are no liens on the property
  • Certificate of No Liability for:
    • Water Services
    • State Works
    • City Works
Also, if you made any repairs or upgrades to the home, be sure to provide your real estate with the details. If the property has unique features, like hurricane shutters, communicate them to your agent. If the real estate is in an area affected by high winds and rain, let the agent know how it stood up to those elements. You will want to arm your agent with every you can to help them advertise and promote your home to qualified buyers.

Remember when you were the buyer



Let your real estate agent know what attracted you to the home and the joy it provided after purchase. It could be the location, the view, or the private pool that sold you the home. Whatever it was, it is likely still a key feature that should be mentioned when promoting the home. Likewise, highlight the home's conveniences and amenities. Did you and your family look forward to winters when you could lounge in the private pool? Did you easily meet other expats and friends at community events or social clubs? Arm your agent with features of the home so they can portray the lifestyle it provides to potential buyers. Buying vacation real estate is often an emotional decision, as you may remember when you purchased it.

Prepare for the peak selling season



The peak season for traveling in Cabo San Lucas is November through April, which means this is also the peak season for real estate activity. If you are considering selling your real estate in Cabo San Lucas, having it ready to list by November is ideal. You can take advantage of the peak tourist season and advertise your real estate to a larger audience. If your home isn't ready at that time, or if it doesn't sell by April, this doesn't mean you have to wait until next year. Cabo San Lucas is a popular destination year-round, and real estate transactions occur year-round. People also look for their dream home during slow times, but fewer active homebuyers are in the market.

Stage the home


Preparing your home to stage includes cleaning out the cupboards and clearing as much furniture as possible to make the home feel large and spacious. Only leave furniture that creates space and shows the amenities of the home. For example, if the home has a gorgeous balcony view, leave a couple of comfortable chairs on the deck. Staging the home so that you highlight its amenities allows prospective home buyers to visualize how they will use the home. You will want to leave some poolside chairs and space for cocktails if you have a pool. Hiring a professional stager in Cabo San Lucas will provide you with excellent showings every time – and you won't have to do the work.

The real estate agents help


Paul and Daria Goldsmith of the Goldsmith Group are experienced real estate agents in Cabo San Lucas, Mexico. They understand the unique concerns that you may have about selling a home in Cabo San Lucas and have years of expertise in the field. They aim to make the process as smooth as possible, taking time to answer all your questions and addressing any issues you may have. The Goldsmith Group is dedicated to providing excellent customer service and ensuring their clients have the best experience.






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