The notary will charge the buyer approx. 5-7% of the sales price registered on the deed. The closing costs consist of taxes such as 2.2% acquisition tax, notary legal fees, the cost of the appraisal, Public Registry recording fees, and others. In addition to the closing costs charged by the notary, foreigners have to pay a fee for establishing a new fideicomiso or taking over an existing one. The fideicomiso costs are quoted and charged directly by the fideicomiso bank and are paid additionally to the 5-7% charged by the notary.