A Step-by-Step Guide for Selling a Property in Puerto Vallarta, including Details, Costs, and Requirements.

To start the process of selling your property in Puerto Vallarta, you’ll need specific documentation. Check out our guide for a detailed list: https://puertovallartahomesales.com/what-documents-you-need-to-sell-your-home-in-puerto-vallarta/

1. Prepare the Property for Sale

Repairs & Improvements: Consider making necessary repairs or improvements to increase the property’s market value. Minor upgrades like painting or landscaping can make a big difference.
Cleaning & Staging: Deep clean the property and, *if budget permits, consider hiring a staging company* to make the property more appealing to potential buyers.
Costs:
- Minor Repairs: $500 – $2,000 depending on the scope.
- Staging: $500 – $2,000 (varies based on home size and market).
- Cleaning: $200 – $400.

2. Set the Price

Market Analysis: Work with a real estate agent to conduct a comparative market analysis (CMA) contact me to determine a competitive price.
Professional Appraisal: In some cases, you may choose to hire an appraiser for an official valuation. (Sometimes in PV the valuation doesn´t match the Commercial Value)
Costs:
- Appraisal: (if you ask for it, you will pay it. Cost depends on your home measures, professional appraiser must be the only one to perform this task.
- Agent’s Commission: % Negotiable (paid at closing).

3. Hire a Real Estate Agent (or sell by yourself)

Listing Agreement: If hiring an agent, sign a listing agreement outlining the commission, responsibilities, and duration of the contract.
Professional Photos: Agents often arrange for professional photos or virtual tours.
Costs:
- Professional Photography: $200 – $500.
- Virtual Tour or Drone Photography: $150 – $400 (if not included in the agent’s fee).

4. List the Property

MLS and Online Platforms: The agent will list the property on the Multiple Listing Service (MLS) and other platforms.
Marketing Materials: Flyers, online ads, and open house events may be arranged.
Costs:
- Marketing Costs: Usually covered by the agent, but this varies.

5. Showings and Open Houses

Scheduling Showings: Prepare to have potential buyers tour the property.
Open House: The agent may host open houses to increase visibility.
Preparation: Keep the home clean and ready for showings.
Costs: Minimal, mainly for cleaning and upkeep.

6. Receive and Negotiate Offers

Offer Review: When offers come in, the agent will present them to you and advise on price and terms.
Negotiation: Be prepared to negotiate on price, contingencies, and closing dates.
Earnest Money: Buyers typically provide earnest money to show serious intent, held in escrow until closing.

7. Home Inspection and Repairs

Buyer’s Inspection: The buyer usually arranges a home inspection. If issues are found, they may request repairs or a price reduction.
Negotiate Repairs: You can agree to make repairs or offer a credit to the buyer.
Costs:
- Repairs: Varies depending on issues found.
- No cost if you choose to sell “as-is,” though this could reduce the offer price.

8. Closing Preparation

Disclosure Forms: Fill out legally required disclosures about the property condition.
Review Closing Documents: Your agent or attorney should help review the documents to ensure accuracy.

9. Closing Costs and Fees

Real Estate Commission: The amount of % of the sale price you previously agreed with the agent, paid to the agency. (all is detailed in the closing costs presented by the agent)
Outstanding Mortgages or Liens: (if exists) the remaining mortgage balance or liens will be deducted from the sale proceeds, (process previously informed by the agent).
Seller’s Closing Costs ISR Impuestos Sobre la Renta taxes: Detailed if you are not qualified for exemption.

10. Move Out and Transfer Ownership

Vacate the Property: Move out and leave the property in the condition agreed upon in the sales contract.
Final Walkthrough: The buyer may request a final walkthrough before closing.
Hand Over Keys: Once the closing documents are signed, the property officially transfers to the buyer, and keys are handed over.

Summary of Typical Seller Costs:

Preparation may vary: $700 – $3,000 (cleaning, repairs).
Agent Commission: agreed % of the sale price.
Closing Costs: Every case is different, must be prepared by the agent or your lawyer.

This process can vary by case, so checking local requirements and costs can provide more accurate estimates. Working with experienced agents and legal advisors can help ensure smooth transactions and compliance with all regulations.