Are you trying to figure out how much cash you’ll need to close on a home in San Juan? You’re not alone. Closing costs can feel confusing, especially with Puerto Rico’s notary and registry steps in the mix. In this guide, you’ll learn what buyers typically pay, how to budget, and the exact steps to get your numbers before you sign. Let’s dive in.
What closing costs cover in San Juan
Closing costs are the non‑price expenses you pay to complete a purchase. They include lender fees, title and notary charges, registry recording, inspections, insurance, and prepaid taxes.
In Puerto Rico, you sign the deed before a notario público and the deed is recorded in the Registro de la Propiedad. If you are getting a mortgage, you also receive federal disclosures like a Loan Estimate early and a Closing Disclosure a few days before signing.
Local customs in San Juan, including barrio El Cinco, affect who pays specific items. Your final allocation can vary by offer terms, lender, and notary, so confirm early with your agent and lender.
Common buyer fees in San Juan
Loan and lender fees
If you finance your purchase, expect lender charges such as:
- Origination or processing fee
- Underwriting or commitment fee
- Appraisal and credit report
- Flood certification and tax service fees
- Mortgage recording fee and any mortgage tax
Who usually pays: You, as the borrower, when a mortgage is used. Your lender’s Loan Estimate will show projected amounts.
Title, notary, and registry
Puerto Rico closings rely on the notary and registry. Typical items include:
- Title search and any curative work
- Lender’s title insurance policy when financing; owner’s policy is optional
- Notary fees to prepare and authorize the public deed
- Registry fees to record the deed and any mortgage
Who usually pays: Buyers often cover notary and registry fees. Title insurance can be split or negotiated. Confirm with your agent.
Taxes and prorations
- Transfer or conveyance taxes may apply, subject to local practice and negotiation
- Property tax prorations between buyer and seller at closing
Who usually pays: Transfer taxes vary by deal. Property taxes are prorated, with the buyer responsible going forward.
Inspections and surveys
- General home inspection
- Pest or termite inspection
- Survey or boundary certification if required
Who usually pays: Buyers.
Insurance and prepaids
- First year homeowner’s insurance premium
- Prepaid property taxes and daily mortgage interest
- Escrow deposits for taxes and insurance
Who usually pays: Buyers at closing.
HOA and condo items
- Estoppel or condo disclosure fees
- Prorated HOA dues and any assessments
Who usually pays: Often prorated. Sellers usually clear outstanding amounts; confirm in your contract.
Settlement and miscellaneous
- Settlement or escrow agent and document prep fees
- Certified copies, notarial protocol filings, courier and wire fees
Who usually pays: Buyers commonly pay some or all of these in Puerto Rico.
How much to budget
A good rule of thumb is to budget 2% to 5% of the purchase price for buyer closing costs when you finance. This range covers lender fees, title and registry, notary, prepaids for taxes and insurance, basic inspections, and escrow deposits.
For a $300,000 purchase, that range is about $6,000 to $15,000, excluding your down payment. Cash buyers avoid lender items but still pay notary, registry, title search or insurance if desired, and prepaids.
Get an exact number
Follow these steps to dial in your total before you sign:
- Apply with your lender and request a Loan Estimate within 3 business days.
- Ask your agent for a buyer and seller cost allocation worksheet based on San Juan customs.
- Request a preliminary title report and ask the notary or title company for an itemized quote for notary and registry fees, plus any title insurance premium.
- Get quotes for inspections and any required survey.
- Combine lender estimate, title and notary quote, and inspection numbers to create a draft closing statement.
- Expect a Closing Disclosure at least 3 business days before closing for mortgage loans.
Timeline and process tips
Disclosures and timing
You should receive a Loan Estimate early in the process. For mortgage loans, the final Closing Disclosure must be delivered at least 3 business days before you sign.
Notary and registry
The notary prepares and authorizes the deed, then submits it for recording at the Registro de la Propiedad. Recording timelines can vary and affect when the registry reflects your ownership and mortgage.
Payment and wire safety
Plan to bring certified funds or a wire for your cash to close. Always verify wire instructions by phone using a known number from your agent or settlement office, since wire fraud attempts are common.
Quick buyer checklist
- Budget 2% to 5% of the price for closing costs
- Ask your agent about typical buyer vs seller fees in San Juan
- Apply for your loan early and secure a Loan Estimate
- Order inspections and any required survey promptly
- Request a title search and a written notary and registry fee estimate
- Confirm wire instructions by phone before sending funds
- Review your Closing Disclosure at least 3 business days before signing
Questions to ask your team
- Which closing costs are typically paid by buyers vs sellers in San Juan, including El Cinco?
- Can you provide a notary and registry fee estimate and a title insurance quote?
- What will my Loan Estimate show for the loan program I qualify for?
- How much will my escrow deposits for taxes and insurance be at closing?
- Are there any municipal fees or assessments I should budget for on this property?
Final thoughts and next step
Closing in San Juan combines familiar U.S. mortgage steps with Puerto Rico’s notary and registry process. If you build a 2% to 5% cushion and request formal estimates early, you will avoid surprises and move to the table with confidence. Ready for numbers tailored to your purchase and neighborhood, including El Cinco?
Call Javi and the team at Mi Corredor to request a buyer cost worksheet and a step‑by‑step closing plan.
FAQs
How much cash do San Juan buyers need beyond the down payment?
- A common planning range is 2% to 5% of the purchase price for closing costs when financing, not including your down payment.
Who pays the notary and registry fees in Puerto Rico closings?
- Buyers often cover notary and registry fees in Puerto Rico, but the final allocation can be negotiated and should be confirmed with your agent.
Is owner’s title insurance required in San Juan?
- A lender’s policy is required when you finance; an owner’s policy is optional but commonly recommended and can be negotiated.
When will I see my final closing numbers if I have a loan?
- You should receive a Closing Disclosure at least 3 business days before closing, which shows your final figures for a mortgage transaction.
Which buyer costs are refundable in San Juan purchases?
- Inspection fees are usually nonrefundable once completed, while earnest money is handled per your contract terms; ask your agent to review specifics.
Can the seller pay some of my closing costs in San Juan?
- Yes, some fees can be negotiated as seller concessions, subject to loan program rules and local custom; confirm with your lender and agent.
