Guide to making a safe real estate purchase in Mexico

Buying a property can be exciting, but it is crucial to take into account the legal aspects for a successful and safe transaction, especially if you are in the pre-sale phase. In this guide, we provide you with legal advice on how to purchase a property in Mexico safely and smoothly. 

‍

Visit the project and verify construction progress

‍

Before committing to the purchase, visit the real estate development to evaluate the quality of the construction, finishes and if the promised features and amenities are met. Also, take the opportunity to evaluate the location in terms of services, transportation and nearby environment, which will allow you to make an informed decision about your investment.

‍

Verify the legality of the development

‍

Ask the developer for building permits, licenses and authorizations issued by the competent authorities. Also, be sure to obtain information on the legal status of the land, making sure it is free of liens or legal disputes that may affect the property, especially if it is in the pre-sale phase. 

‍

Meet the developer and his experience

‍

As with any purchase, research the developer's history, experience and reputation. Look for reviews from other buyers and verify that the developer complies with legal and quality standards. This will give you confidence in your purchase decision.

‍

Review the purchase contract in detail

‍

Before signing, carefully review the contract provided by the developer. Make sure you understand all the terms and conditions, including the sales price, delivery terms, features of the property, penalties for non-compliance and cancellation clauses. If necessary, seek legal advice to ensure the fairness and legality of the contract.

‍

Requests deposit or delivery guarantee

‍

Protect your investment by requesting a bond or delivery guarantee from the developer. This guarantee is requested when the project is in the pre-sale phase, with it you will be backed for the completion and delivery of the property within the agreed deadlines, providing security in case of non-compliance.

‍

Consult the condominium regime

‍

If the project includes common areas, request a copy of the condominium agreement. Review the clauses and make sure you understand your rights and responsibilities as an owner in relation to the shared areas.

‍

Keep this guide handy to help you make a safe and secure purchase of a pre-sale property in Mexico. Remember that you can always seek legal advice and take extra precautions to protect your investment. Enjoy the excitement of buying your new home and make sure that they comply with the legal aspects to make your purchase successful!

‍

Are you ready to buy real estate in Mexico?