Seller's Guide

Selling Your Home? 

Congratulations, you’ve done it, you got your property. After months of grueling planning, bean-counting, legal hassling, contact scourging, and lots and lots of paperwork, you’ve finally earned yourself that hot Cabo property you’ve always wanted.  

So, what’s next? 

Easy, making the most out of it! In this case, selling. Now, it doesn’t matter if you bought a house, a condo, or a huge complex, whatever it is you’re trying to sell will follow more or less the same kind of process, be it legal or plan-wise. Let’s cut to the chase and get to it! 

Getting the Place Ready and Presentable

First impressions matter, a lot. We oftentimes think our living space is the peak of what it should look like, and even if it is to you, that might not be the case for every potential buyer. What you need to do is get out of your comfort zone and come to terms that what you see isn’t necessarily what others picture. Second opinions work wonders, and rather than waiting around for your first “I’ll call you back” or “I’ll look elsewhere” or that nasty “It’s not my thing” why not think ahead?

Get a Realtor  

First off, and this is imperative. Find and hire yourself a Los Cabos Realtor to help you out selling your home. Reach and professionalism logistics aside, these people know their stuff and they’ll gladly give you feedback all the way, as well as a fair share of connections and with the Cabo real estate scene, which brings us to our next imperative point: the home inspector.

Hire a Home Inspector

Home inspections cost a fair bit, but the fact that you’ll have a proper assessment of your place at hand will allow you to be up and front with your potential buyers about its, quote-on-quote, specs. Trust me, those couple of hundred dollars will go a long way, and if you really want to invest big time, you can always start fixing whatever issues pop up and re-hire the same home inspector to give it a second opinion, therefore granting you an even shinier seal of approval, both of the property and your dedication.

Keep Track and Write Down Repairs

With that part done I do recommend you keep track of all the repairs and replacements done throughout the house, both post-inspection refurbishments and all those life-spanning fixes here and there. Guarantees, warranties, home-appliance manuals, and more. Customers will ask for these things and your image will be all the better the more questions you answer in a positive light.

Cleanup Time

Afterward, it’s wise to always keep the place nice and neat, removing clutter, stuff that just doesn’t need to be there, and so on and so forth. Keep the windows sparkling, floors shiny, walls painted, bad odors, smoke and smells neutralized, and the lightning focused (and packing brand new bulbs). This will make your home look sharp and bigger than it is, therefore packing far more of a punch during that first key visit. The lack of clutter and proper lightning will keep the focus on what matters the most, the structure of the place itself, accentuating the pros and keeping the cons at a—likely preference-based—minimum. 

In fact, adding supplementary furniture and décor also goes a long way in drawing the eye and giving this air of approachability and homey-ness, and believe me, the little things go a long way.

Now that we’ve got interiors out of the way it’s time to focus on exteriors, we’re talking first impressions here after all. Keep that lawn short, those shrubs nice and trimmed, maybe consider some floral arrangements depending on how well they complement the place. Also, whether or not you give the house the full up-and-down, you should consider at least doing so to the front, you really don’t want cracks showing before they open the door.

Ask a Friend

Lastly, there’s always the everyday, friendly neighborhood opinion. Having the scrutinizing eye of an expert helps, but having the voice of a friend at hand also helps, giving you an even more thorough examination, one that’s more day-to-day and down-to-earth. Now, this is in no way discrediting the Realtor and Home Inspector’s part in the equation, it is merely a supplement, a final check before you hop into the Cabo selling business, and, as I’ve stated right at the beginning of this first bit, first impressions matter, a lot. They can make or break deals, so being thorough isn’t a detriment, it’s a strength. 

Making your Marketing Plan and Getting your Property Going. 

With the presentation part out of the way, now it’s time to dive into the more technical, nitty-gritty market side of things. Selling real estate is a tricky process, filled with clarifying questions. When do I sell? At what price? How can I compete? 

First off, you want to be up-to-date with these questions, so what do you do? I mean, leaving all the work to everyone else has never been a good course of action in almost any kind of business, whatever help you can add yourself will greatly increase the odds of you watching those papers signed and those dividends paid. So, get your own information, make your own plan, and get the help of the pros. With a proper Real Estate Agent working beside you, you’ll have the expert aid you need to get your property up and running in the Cabo real estate scene. 

Of course, I can’t really leave it at that, now can I. Worry not, I’ve got a tried-and-true, straightforward step-by-step for you and your associates to follow.

Get the Essentials Ready

Let’s start things off by making a setup for your property, namely getting the paperwork and minutia out of the way. With your home inspection done all that’s left for you to do is request the legal title documentation, determine the fair market value of your property, provide an estimate of the closing cost expenses to show your net proceeds (what you’ll get upon selling after costs and expense deductions), and last, but definitely not least, coming to a listing agreement with your Realtor, allowing them to sell and market your property all around Cabo.

Get the Marketing Rolling

With the paperwork and setup out of the way, it’s time to start putting good old marketing to the test. First, talk to your Realtor about getting the most important information, and the best pictures, uploaded to the MLS, Cabo’s Multiple Listing Service, that way they’ll be able to promote it on their Real Estate page for interested parties to peek at. When it comes to photography a Realtor may well pull it off or get you a contact to get an impressive set, up-to-par with market standards.

Additionally, there’s the matter of setting up a “For Sale” sign, designing a quick map for the location (for online presence), putting up the property for display, and, of course, utilizing ads to further publicize the house. A quick get-together, be it phone or face-to-face, with your Realtor should give you enough of a “panorama” of what extras you might need in order to strengthen your online presence.

Almost There! Just Get your Paperwork and Taxes in Order

Eventually, there should be biters. Provided that happens, then it’s best you start to consider legal counsel to undergo the purchase process. Your Realtor will help you out with this as well. Ensuring that all terms of conditions are met in the Promise To Purchase agreement, managing the transaction details from the Offer To Purchase title transfer, overseeing loan approval processes (and that the transaction closes on time), and providing updated—preliminary—closing statements for your review. All that so your transaction closes without the hassle and on time.

With that done, you need to get your net proceeds wired into your bank account, yet again something your agent will help you out on, review the final closing statement of accuracy (which is a breakdown of closing cost expenses) and provide a CD with all your real estate transaction documents. These are kept as a valuable reference and for future use should any contingencies or problems arise. As an example, here’s a bare minimum of the required documentation (be it physical or digital) for this and related processes:

  • Fideicomiso (bank trust), Escritura (title deed), and Power of Attorney.
  • Two forms of legal ID (Visa and Passport).
  • Last paid Property Taxes.
  • Last paid Bank Trust Fees.
  • Current maintenance and property management costs.
  • If the house is part of a homeowner association, a proof of current payment.
  • If the property is your primary residence, a Utility Bill is proof of said residence.

Lastly, we’ve got to talk about taxes. You see, whenever you sell a home in a foreign country, you need to report the transaction to your US tax return, just as if you’d just sold a property back in the United States.  Whether or not your property as an investment or your actual home, however, will decide the kind of taxation you’ll have to tackle. For reference, the International Revenue Code allows you certain exclusions if the property was your primary residence for at least 24 out of 60 months as of the date of the sale (the more tends to be the merrier in this case). 

Numbers-wise this means you’d be preventing up to 250,000 USD in taxes, and that’s if you’re single. If you happen to be married (and filed for a joint return) that means you’ll be looking for upwards of 50000 in savings. 

Of course, that’s great and all, but what if I told you there’s a way to look at even further savings, and all thanks to good old technicalities? Should you qualify, there’s this neat little thing going on between Mexico and the United States called a tax treaty, which pretty much boils down to you not needing to pay US taxes for a sale in Mexico, so long as you claim the Mexican taxes on the sale as a foreign tax credit on your US return.

Now, when talking about Mexican taxes you need to know that, typically, you pay 35% of your net profit (calculated at time of closing). However, you can include deductions that reduce your capital gains, therefore reducing the amount of taxes you have to pay. All of this makes it so that there are plenty of ways to soften the blow, so to speak, and make it so that you can enjoy your net gains without much worry or second thoughts.

You’ve Done It! Enjoy!

If you’ve made it here, then rejoice, and if you haven’t, then keep on trying! Whether you’ve yet to start step 1 or are in the middle of a legal hurdle somewhere along steps 2 and 3, real estate in Cabo is as booming a scene can get. Even the most modest of properties will find a measure of profit from the large consumer scene seeking to make this one-of-a-kind getaway their home, vacation, or otherwise.

Selling your Home

Selling your home is all about knowing the local housing market. Pricing your home correctly is crucial to maximizing the highest selling price possible. As an area expert, I can help determine what direction the market is trending, so you can make the right choices when it comes to selling your home to get the highest price possible!

Accurate pricing is key to get as many people as possible to tour and make offers on your home, especially when you first list your home.  There’s a current pool of buyers waiting for new listings to hit the market, which is why accurate pricing and staging your home properly is crucial.  

Things to Think About When Selling Your Home

Once we’ve determined the price, I can give you advice about the little things that you can do to stage your home to get you the highest possible price! You’d be surprised by the simple measures you can take to dress up your home to attract more qualified buyers. 

I have a marketing plan that is designed to get maximum exposure to the buyers that are currently looking, and all agents that have buyers.  Through pricing, staging, agent accessibility, and visibility, both on and offline, I can successfully sell your home to help you achieve your goals. 

Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood! 

Considering selling or refinancing your home? Get an INSTANT property valuation now!

Contact us today to find out how we can be of assistance to you!