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πŸ“Œ The Hidden Costs of Selling a Home in Puerto Rico (And How We Help You Avoid Them)

11 Jan, 2025

Selling your home in Puerto Rico? Many sellers underestimate the hidden costs involved in the process. From closing fees and CRIM taxes to legal expenses, these costs can reduce your final profit if not handled properly. At Puerto Rico Real Estate, PSC, we guide you through a smooth transaction, helping you avoid unnecessary expenses and maximize your profit.
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πŸ“Œ The Hidden Costs of Selling a Home in Puerto Rico (And How We Help You Avoid Them)

🏑 The True Cost of Selling a Home in Puerto Rico

Selling your home is more than just finding a buyer and signing a contract. Many sellers are surprised by the fees, taxes, and closing costs that impact their bottom line.

At Puerto Rico Real Estate, PSC, we ensure you are fully informed and prepared so you can avoid unexpected financial burdens and sell your home with confidence.

1. Closing Costs & Attorney Fees

Unlike in many U.S. states, closing costs in Puerto Rico are typically split between buyer and seller. However, sellers often overlook certain fees that they are responsible for, such as:
βœ” Attorney fees for preparing legal documents
βœ” Title search & deed preparation
βœ” Mortgage cancellation fees (if applicable)

Our team works with trusted real estate attorneys to ensure accurate documentation and avoid unnecessary legal costs.

2. CRIM Property Taxes & Outstanding Balances

Before selling, it’s essential to check your CRIM (Centro de Recaudación de Ingresos Municipales) property tax balance. Any unpaid taxes must be cleared before closing.
βœ” CRIM tax certificates are required for closing
βœ” Property tax debt can delay the sale
βœ” Exemptions may apply if the home is your primary residence

We help you navigate CRIM regulations to ensure you’re compliant and not overpaying.

3. Capital Gains Tax: What Sellers Should Know

If you’re selling a home for more than you originally paid, you may be subject to capital gains tax in Puerto Rico. However, some exemptions apply:
βœ” If the property is your primary residence, you may be exempt
βœ” Properly documenting home improvements can help reduce taxable profit
βœ” Foreign sellers may face additional tax withholdings

Our experts guide you through the tax process to ensure you maximize your after-sale profit.

4. Commission Fees: A Smart Investment

Real estate commission fees are a standard cost of selling a home. In Puerto Rico, the typical commission is 5-6%, but working with a skilled agent means:
βœ” Higher exposure & professional marketing
βœ” Expert negotiation to secure the best price
βœ” Smooth transaction & paperwork management

Choosing Puerto Rico Real Estate, PSC ensures you get top-dollar for your property while avoiding costly mistakes.

5. Repairs & Home Preparation Costs

Many buyers request repairs or price reductions based on a home inspection. To avoid last-minute expenses, we recommend:
βœ” Pre-listing inspections to identify issues early
βœ” Affordable upgrades that increase value
βœ” Staging & curb appeal improvements

We advise our sellers on which repairs are worth the investment and which ones can be negotiated smartly.


πŸ“Œ How Puerto Rico Real Estate, PSC Helps You Save Money

Navigating the selling process can be overwhelming, especially when unexpected costs arise. That’s why working with Puerto Rico Real Estate, PSC is the best way to protect your profit and sell with confidence.

βœ… Our Services Include:

βœ” Accurate property valuation to set the right price
βœ” Expert guidance on CRIM & tax obligations
βœ” Negotiation support to minimize repair costs
βœ” Legal coordination for a smooth closing
βœ” Marketing strategies to attract serious buyers

We help you avoid hidden fees, streamline the selling process, and ensure you walk away with the highest possible return on your property.


πŸ“ž Contact Us Today!

Ready to sell your home in Puerto Rico? Let’s ensure you get the best deal without unnecessary expenses! Contact us today for a free consultation.

πŸ“ž 787.244.6364
βœ‰ [email protected]
🌐 www.ThePuertoRicoRealEstate.com

 

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