You can select and study offers for the sale of real estate in Mexico through open sources such as the Internet, specialized publications, and thematic exhibitions. On the latter, you can chat live with realtors and developers, on the spot to get advice. If desired, the search, selection, and purchase of real estate can be done independently. But in practice, without understanding the specifics of the law and not knowing the language, it is difficult to go through the whole procedure without the help of specialists.
How to Search for a Realtor in Mexico?
In Mexico, by law, a realtor does not have to pass a state certification. That is, anyone can open his agency. At the same time in Mexico, there is a professional organization of the real estate industry – the Mexican Association of Real Estate Professionals (Asociación Mexicana de Profesionales Inmobiliarios, or AMPI). Any real estate specialist in this organization is certified and passes the exam. To protect yourself from fraudsters or unqualified realtors, you need to find out if:
- the company is registered with AMPI;
- it is a member of a well-known international franchise;
- it has certified employees.
Also look for the information where it is satiated the office and how long the company has been working. In Mexico, the same real estate agency can represent the interests of both the buyer and the seller. More often, two agency employees are involved in the transaction: one is responsible for the listing (the object put up for sale, with the owner of which the company has a contract), and the other handles the client and represents his interests.
Tasks of a Realtor
• Property selection and real estate consulting;
• Lawyer services;
• Making offers and contracts;
• Checking the object for possible encumbrances;
• Collecting a set of documents;
• Opening a bank trust;
• Transfer of ownership to a new owner.
Real estate agencies working with foreign buyers, in addition to full support of the transaction, try to provide maximum assistance. They consult on domestic issues, recommend shops, clinics, schools and etc.
In Mexico, the seller pays the agency commission from 5 to 7% of the transaction value. For the buyer the services of a realtor are free. In this case, there are cases when agencies charge an additional fee from the buyer. It is better to clarify this issue at the stage of searching and choosing an agent.
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