The home price isn't the only number. Stamps, deed, title study, appraisal, origination: every closing cost explained so you reach the signing with no surprises.
In Puerto Rico the purchase is formalized through a public deed before a notary — a process unlike the mainland's — and around that signing revolve several costs many buyers discover too late. The good news: all of them are knowable in advance, and your lender must give you an official Loan Estimate early on.
The main costs
- ✓Internal revenue stamps and vouchers for the deed and its filing at the Property Registry
- ✓Notary fees for the purchase deed (and the mortgage deed if you finance)
- ✓Title study — verifies the property is free of liens and encumbrances
- ✓Appraisal and property inspection
- ✓Lender charges: origination, credit, and insurance/tax prepaids
- ✓Hazard insurance (plus flood insurance where required)
Who pays what? Everything is negotiable
Custom in Puerto Rico splits certain costs between buyer and seller, but in practice almost everything is negotiated in the offer: there are deals where the seller contributes to the buyer's closing costs, especially when the property has been on the market a while. That's why a well-structured offer is worth as much as a good price — and that's what I'm here for.
Ready for the next step?
Talk to Kelvin