The process of selling a house in Mexico can be tedious when not knowing the necessary documentation to make the change of ownership, which is why the National Commission for the Protection and Defense of Users of Financial Services (Condusef) guides users throughout the process.
Before gathering the necessary documentation to sell a house, Condusef advises not to stop giving maintenance to the property, since even though the process may take some time and it is recommended to be patient during the process; "love is born from sight", says the government agency.
Another series of recommendations issued by the Condusef for the sale of a property is to request the help of a professional to follow up on the sale and purchase process, or to use technologies such as Fintech to speed up the process.
In addition, it should be considered, among other things, the payment of taxes that may be generated by selling or comparing a property in Mexico.
How to sell a house in Mexico?
Now, once you have found the right option to sell a house or apartment, Condusef indicates that it is important to have the following documentation to continue the process:
Official identification of the owner of the property
In the case of one or more owners, the first document to have on hand is an official identification, which can prove the relationship of the owner(s) with the property. For example, in the case of a married couple, the corresponding certificate will be requested.
This document is a guarantee before the Mexican authorities that the property is in fact in the name of the person with whom the procedure is being carried out. It can be requested through the Public Registry of Property (RPP) of each state.
Certificate free of encumbrances
Also known as a Certificate of Existence or Non-existence of Liens, this document specifies that the property, house, or apartment has no debts before any institution or company.
It is worth mentioning that this document is valid for 20 years, and just like the title deed, it is requested at the RPP of each entity with the name of the owner, address of the property, and registered folio.
Payment of property taxes and services
Unlike the previous document, the payment of predial and services indicate that there are no property tax debts, which must be made each year by taxpayers who are property owners.
The appraisal, is the result of the process of estimating the value of an asset, in this case, a house or apartment, determining the measure of its exchange power in monetary units. It is performed by a professional and must have a specific date.