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Selling a Rental House


ttervooren

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I think Spencer said Notarios in the area are allowing Temporals to be exempt from paying the higher tax but I've read it must be a house the seller has lived in for the past 5 years. I think if it is a rental you will be hit with the tax.

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The OP did not ask about taxes, but about required immigration status re selling a property. From all I have read lately, you need a Mexican tax # to buy or sell property now, and for that you have to have temp or permanent residency.

If he doesn't know what status he needs to sell a house then I bet he doesn't know about paying a huge amount in taxes. Just a heads up. He needs to check with a Realtor or lawyer.

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Ask the notario what documents they will want, as previously mentioned there would be no capital gains exemption, however, there could be other side issues if the seller does not have an immigration document. There are ways to reduce capital gains liability, first thing to do is get a closing cost estimate from a notario and then look at what options you might have if you do not want to pay the amount.

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There are ways to avoid or lower capital gains

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