THE FIRST STEPS IN THE PURCHASE-SALE OF REAL ESTATE

Real estate has always been one of the best ways to invest capital.

If you are interested in buying real estate, it is important to know that, although there are successful operations, there are also fraudulent ones.

It is completely normal to have doubts about the processes of buying and selling real estate. For this reason, it is recommendable to have professional advice. For this purpose, Century 21 can lead the purchase-sale process together with the owner and buyer.

AVOID A SCAM OR FRAUD

The importance of a market study prior to listing the property, in the area where the property is located, cannot be overlooked. With the information obtained, the buyer will be able to know the price range in the area, and if it is worth acquiring the property. Either the price is too high (overvalued), compared to other real estate in the area; or very cheap, (warning indicator that the property may have certain debts, or damage to its structure, considerable to repair). In both cases, not suitable for acquisition.

It is common for scammers to urgently give some information to the interested party, and ask for a deposit to “secure” the property. This, with the excuse that any other interested client acquires the property. If a seller wishes to obtain a deposit in advance, a contract must be signed prior to this payment. A "reservation of the property" should never be made if there is no legal proof, in this case, a purchase-sale contract, signed before a notary public. That is why registered and certified real estate agencies are the best option to buy and sell properties, since an advisor will always be aware of the buying and selling process, advising you during its development. In this way, the sale of the property can be carried out in order, with the corresponding legality.

In Mexico, the buyers need to obtain the identity data of the seller to know if they are really dealing with the person who is making the offer. Requirements such as voting card / voter card, and CURP are essential to validate the existence of the offeror. A face-to-face or virtual appointment, with the relevant identity documents, is also ideal for this purpose.

COLLECT INFORMATION FROM THE PUBLIC REGISTRY OF PROPERTY AND COMMERCE

When intending to purchase a property, you need to request a copy of the deeds of the property or a copy of the property tax to verify that it is registered by the Public Registry of Property and Commerce. This information is completely public and provides another transparency tool for the buyer's safety. In this way, the comparison between the offered property and the seller's data is carried out, together with the database of the Public Registry of Property and Commerce. Therefore, the real estate will appear in this database with a folio and with the name of the owner, called - Proof of existence -. It is also possible to know if said property has debts. In the event that the property has no debts, the Public Registry of Property and Commerce will let you know that it has the – Certificate of no liens -. If the property is legitimate and under the corresponding legal order, the seller's data will coincide with the data from the Public Registry of Property and Commerce, obtained by the interested party.

If you need help buying or selling a property, you can opt for the services of Century 21. We are a professional, reliable and international company, active members of AMPI (Mexican Association of Real Estate Professionals of Mexico City) with presence in more than 84 countries.

Sources:

https://www.elfinanciero.com.mx/inmobiliario/como-detectar-y-evitar-fraudes-en-compra-venta-de-casas-y-apartamentos-duror-la-pandemia/

https://blog.vivanuncios.com.mx/bienes-raices/que-es-el-registro-publico-de-la-propiedad-y-el-comercio/

http://www.ordenjuridico.gob.mx/Estatal/QUINTANA%20ROO/Reglamentos/QROOREG28.pdf