Laura Rosas, REALTOR

Your 1st question should be answered by a professional appraiser. I have not worked that area in Mayaguez. In general, property values will vary greatly from one another depending on features, construction, conditions, size, location and potential. If you do a search in clasificadosonline you will find a 6/3 house located at Urb. Quinto Centenario that was sold last summer for $116,000. That info is for reference only, it's subject to verification and it's not to be considered for appraisal or legal purposes. Your 2nd question: a real estate broker (agent) works for a commission fee that is agreed between seller and broker. It's not standard or fixed by law. It will depend mostly on the marketing the agent will do to get the prperty sold. Also not all real estate agents or brokers are REALTORS(r) but be sure to work with a licensed real estate professional... preferably a REALTOR(r) in good standing and one that works the area where the property is located.

First thing to know is what is your current aproximate balance on that mortgage. A REALTOR(r) will do a an estimated sellers proceed and a comparative market analysis for you in order to agree on the best selling price. Once you have a buyer who is willing to buy and you agree on an option, at the closing that mortgage has to be cancelled (balance paid in full). After deducting costs such as legal costs, commissions, mortgage balance, property taxes if due, and other expenses, the difference of what the buyer pays and all of these, will be your net proceeds. If you need to sell quickly you may have to accept a very low proceed if anything but if you have a good equity on the house you're likely to get a reasonable proceed. At least you will be able to cancel the mortgage if that's your primary concern.

First thing to know is what is your current aproximate balance on that mortgage. A REALTOR(r) will do a an estimated sellers proceed and a comparative market analysis for you in order to agree on the best selling price. Once you have a buyer who is willing to buy and you agree on an option, at the closing that mortgage has to be cancelled (balance paid in full). After deducting costs such as legal costs, commissions, mortgage balance, property taxes if due, and other expenses, the difference of what the buyer pays and all of these, will be your net proceeds. If you need to sell quickly you may have to accept a very low proceed if anything but if you have a good equity on the house you're likely to get a reasonable proceed. At least you will be able to cancel the mortgage if that's your primary concern.

Property estimated values are given by an appraiser or a real estate broker that has a good knowledge of the area, may do a CMA (comparative market analysis). In Puerto Rico properties DO pay taxes. It' a general misconception of the benefits or exemption that may apply. If it's your primary residence, you get the first $150,000 exempt from taxes and if you're a veteran you get another exemption of $50,000.00 per year. As an example if it's your primary residence and it's appraised for property taxes in $150,000 or less, you will not be paying but if that property is appraised at $165,000 you will be paying for the difference and the % will depend on the municipality you choose to live. In Cabo Rojo the rate is 1.008 while in Lajas is .883. That property if it's in Cabo Rojo, will be paying $1,663.20 annually without the exemption (second home or none resident) but if the exemption is granted you pay only $151.20. If you are a veteran with the additional benefit of $50,000 exemption, then you will not be paying taxes on that property. Please let me know if I can be of further assistance if you're planning on buying in the western area of Puerto Rico. Thanks for the opoortunity.

Property estimated values are given by an appraiser or a real estate broker that has a good knowledge of the area, may do a CMA (comparative market analysis). In Puerto Rico properties DO pay taxes. It' a general misconception of the benefits or exemption that may apply. If it's your primary residence, you get the first $150,000 exempt from taxes and if you're a veteran you get another exemption of $50,000.00 per year. As an example if it's your primary residence and it's appraised for property taxes in $150,000 or less, you will not be paying but if that property is appraised at $165,000 you will be paying for the difference and the % will depend on the municipality you choose to live. In Cabo Rojo the rate is 1.008 while in Lajas is .883. That property if it's in Cabo Rojo, will be paying $1,663.20 annually without the exemption (second home or none resident) but if the exemption is granted you pay only $151.20. If you are a veteran with the additional benefit of $50,000 exemption, then you will not be paying taxes on that property. Please let me know if I can be of further assistance if you're planning on buying in the western area of Puerto Rico. Thanks for the opoortunity.

Yes! Yes & yes! There are land lots still available with a very nice view in Boqueron. Price range is $150-200 per sq mt. depending on location and infracsture. InIn the area there are fine builders, engineers and architects. Just make sure that they are licensed and do everything according to the standards and permits required by law including ARPE and DACO which are two of the goverment agencies related with construction permits and consumer affairs.

Yes! Yes & yes! There are land lots still available with a very nice view in Boqueron. Price range is $150-200 per sq mt. depending on location and infracsture. InIn the area there are fine builders, engineers and architects. Just make sure that they are licensed and do everything according to the standards and permits required by law including ARPE and DACO which are two of the goverment agencies related with construction permits and consumer affairs.