QUERÉTARO, March 18, 2021.- The State Council of Real Estate Professionals of Querétaro AC (CEPIQ) reported that just over five thousand real estate agents operate in the entity that are not certified or registered with the Secretariat of Urban Development and Public Works (SDUOP), which could pose risks for clients.
Ivonne Miryam Gutiérrez Hernández, president of the association, explained that there is a universe of 6,500 real estate professionals, but of these only 1,375 -in addition to 47 companies- have the certifications established by the new law in the state.
In this sense, he assured that the risk of hiring a person without certification for a process of buying – selling- renting real estate goes from not having legal certainty about the patrimony, that there are no guarantees on it, or that they may be a victim of fraud.
The charge for hiring a certified real estate professional is 5% of the total cost of operations, and they invited those who are not under the protection of the law to regularize themselves.
This council is made up of the Mexican Association of Real Estate Professionals (AMPI), both in Querétaro and San Juan del Río, by the Queretana Association of Realtors (AQUI) and by the Association of Real Estate Services Women (AMSI)
Are you already in the process of acquiring your home? Here we tell you the legal steps to buy a house and the documentation that you must present in order for it to be officially valid.
If you have already found your ideal home, now you just need to take the last step so that it is completely yours and your family’s assets begin to grow.
The process of buying a house can be a situation that requires a lot of your time, therefore, it is important that you focus and have all the papers in order.
What is the process for buying a home for the first time?
- Hire a notary
- Deliver the credit authorization letter
- Submit documentation
- Show the certificate of freedom from lien
- Exposes the current appraisal of the property
- Display the title to the property or deeds
- Provides proof of property and water
- Make notarial and deed payments
Hire a notary
It is extremely important that in the process of buying a house you consider the notarial expenses, since a notary will give legality to the sale of the property and will review the documentation you present in detail.
Likewise, the notary will corroborate that the person who claims to be the owner of the house you are going to buy is really the owner and that the house is in habitable conditions for you and your family so that the transaction is finally carried out, formalized legally and the deeds are changed in your name.
Deliver the credit authorization letter
If you applied for a mortgage loan from a financial institution, Fovissste or Infonavit, it is important that you deliver the authorization letter from the entity where you contracted the loan, to the notary.
This letter will also prove to the owner of the home you are buying that you have income to continue with the buying and selling process.
Another of the steps for buying a home that you must take into account is to prepare your documentation in original and copy, to present it before the notary public, which will be:
- Official identification.
- Birth certificate.
- Marriage certificate
- Birth certificate and official identification of the spouse in case of joint purchase
- Official identification of the owner and his spouse if the property belongs to both.
- Marriage certificate of the owner if the property belongs to the seller and his partner.
We recommend that you do not forget any personal and seller documents so that your process to buy a house is legal before the notary.
Show the certificate of freedom from lien
You must consider in the process of buying and selling the home the notarial expenses of the Certificate of Freedom from Encumbrance, the notary public will do this process before the Public Property Registry.
The purpose of this certificate is to verify that the home they are selling you is free of debt, has all its paperwork in order, and does not present legal problems with the Treasury or any financial institution.
Do not stop displaying this document in the legal steps to buy a house, with it you can certify the purchase and legality of the property.
Exposes the current appraisal of the property
In the expenses to buy a house, you contemplated the real estate appraisal and this confidential document was granted to you by a real estate appraiser.
During the process to buy a house before the notary, present and deliver the current appraisal of the property, this certificate establishes the monetary value and the conditions of the house to be inhabited or not.
The validity of this document is 6 months, so we recommend that you present it as soon as possible before the notary public.
Display the title to the property or deeds
One of the legal steps to buy a house that corresponds to your seller is the delivery of the Title to the Property or the deeds of the house for sale.
This document must be delivered to the notary to show that whoever wants to sell is really the owner of the property.
Make sure that the papers of the property you want to acquire are in order so that you can continue with the process to buy a house.
Provides proof of property and water
The process to buy a house will not only depend on you but also on the seller of the property, therefore, it is important that you present before the notary the payment of the property and water bills of at least the last 5 years.
It will help you to confirm that the home has no debts and that you can proceed with the sale.
Make notarial and deed payments
One of the tips for buying a house for the first time that we offer you is that you have contemplated in your notarial expenses the amount for the management of the certificates and the fees of the Public Property Registry for the change of name of the deeds that the public notary.
Likewise, you must pay the notary’s fees and request receipts for the payment of their services.
The notary will review all the information and will give you the acknowledgments of the documentation received, will make a calculation of taxes and rights that you will have on the property. It will inform you the day you must present yourself for the signing of the deeds.
It will also give you a simple property deed so that you can start requesting basic services (electricity, water, property, etc.) for your new home.
On the other hand, the sale of the home will be denied if you pay cash advances, down payments or the total property with amounts greater than 8,025 times the minimum wage established in Mexico City.
Avoid committing acts of corruption and present all the documentation so that you can acquire the home legally.