6 steps to avoid a real estate fraud

Real estate frauds are among the first 10 causes of complaints received by the Federal Consumer Attorney (Profeco), so it is important to take precautions to avoid becoming a victim of these practices. The real estate portal Lamudi suggests following these simple steps.

1.-Lean on experts

Although it may represent an extra cost to consult a lawyer specializing in real estate, a property status evaluator or a real estate credit agent, it is always better to receive advice from specialists to avoid future problems.

2.- Check the payment of taxes and services

Lamudi urges that the status of the property be reviewed and the purchase-sale price negotiated, as well as asking the owner of the property to prove the payment of all taxes and housing services. It is important to note that in case of any anomaly the property may be left without services for non-payment, or else, you can absorb a debt accumulated for several years of debt.

3.- To make sure that the agents are authentic and reliable

Agents and real estate agencies must register their adhesion contract with Profeco in order to market a home. It is important to make sure that this record exists.

4.- Commitments in real estate development

When acquiring a home in development it must be taken into account that the commitments that the seller must assume: meet deadlines, characteristics of what he agreed to buy, as well as building permits and licenses.

5.- Do not give advances

Unless there is research expenses, the seller can not receive any advance until the contract is established and written. It is important to mention that the structure of the property must have a guarantee for 5 years and its waterproofing 3.

6.- Review the legal status of the property

When renting or buying a property, you should always consider the legal status, from verifying that the property title is in order, until corroborating that whoever is renting is the legal owner.

Similarly, it must be confirmed that the land use of the property corresponds to the purpose for which you intend to use it.


Source: El Financiero / Drafting.