Q: What are the closing costs when I purchase Nicaragua real estate?
The short answer is approximately 4%, depending on what is negotiated in the sale agreement between buyer and seller, and depending on where the property is in Nicaragua. Here is a summary of typical closing costs for a Nicaragua real estate transaction. All percentages are based on the purchase price of the property.
Transfer Tax (1% of purchase price or cadastral value which ever is higher)
|
1% |
IMI Tax (1% of purchase
price or cadastral value which ever is higher)
*IMI tax is a municipal revenue tax and is the responsibility of the seller
*IMI tax is typically negotiated between the buyer and seller, as to who will pay it
*IMI tax is currently only charged in certain municipalities (i.e. San Juan del Sur)
|
1% |
| Attorney's Closing Fee (typically carries a minimum such as $300)
*The closing fee percentage should be negotiated for larger
purchases (over $250K)
|
1% |
Registration Taxes and Fees (to have the title registered
under the new owner's name)
*These costs typically sum 1% for purchases under $100K, and vary otherwise
|
1% |
Back to Faq's
|
