Luis Enrique Peraza at AMPI ceremony highlighting the importance of creating a real estate law governing realtors.
Mazatlan, Sinaloa .- The president of the Mexican Association of Real Estate Professionals, Luis Enrique Peraza, said that by 2019 is expected to have a “spectacular” closure for the sector.
The leader assured that during his mandate he will have three objectives. The first will be to create real estate law licensing requirements, and real estate development regulations which will aim to give greater legal certainty to investors. This will help prevent property frauds from being carried out.
He assured that this will also help prevent real estate fraud it will assure the proper legal real estate procedures for buyers, investors or sellers and guarantee due diligence to prevent irregularities in real estate transactions.
He added that the second challenge is the inclusion, of state and municipal agencies
Finally, the President of AMPI Mazatlan “Luis Enrique Peraza” said Real Estate License Requirements needed to practice will be implemented with new real estate law.
Professional Real Estate Education Requirements
Age Requirements, Formal Education Requirements, Prelicensing Requirements, Postlicensing Requirements, Continuing Education Requirements, Examination Requirements
The Secretary of Economy of the Government of the State, Javier Lizárraga, stated that in 2017, real estate services accounted for 11 percent of the Gross Domestic Product of the state, becoming the second most important sector, which generates an economic income of 50 thousand 250 million pesos, surpassing the agrarian sector.
The national president of AMPI said that Mazatlan is a national point of reference in terms of development and growth, although there is a need to improve in some aspects, such as ensuring that developments take place within the urban sprawl, to avoid future problems, such as insecurity and violence.
Does Your Real Estate Agent in Mexico Follow AMPI Guidelines
There is a particular ethical and moral way in which buyers and sellers should deal with each other, and most of the time, the person who has to keep the negotiation on this level is the agent, or agents, involved.
It is our responsibility to recognize and require that everyone involved work on the highest level of reason and fairness. This subject has nothing to do with denying a buyer or a seller a good deal. Where did we get the naïve and immature idea that one party has to be harmed or beaten down and the other is to win at all costs?
Here are the basics of what you should expect from your real estate agent in Mexico who follows AMPI rules and regulations as a member of the organization:
1. The agent must understand that all circumstances involved in a transaction are entrusted to him/her.
2. An AMPI professional must disclose the qualities and defects of the property under consideration.
3. He/she should understand and tell his/her client the feasibility or complexity required for a completed transaction.
4. He/she must disclose all relevant information that could impact a sale.
5. He/she must disclose to a buyer how the title is taken.
6. Require a review of the condominium regime and current rules and regulations of the HOA.
7. He/she must never oppose the wishes of a client to consult an attorney, notary or other professionals on the disclosure of:
Restrictions or limits that could affect the property
Problems affecting the property
Quality of materials
Additionally, he/she must cooperate with all consultants his client may want to use to investigate the property and conditions of closing a transaction.
When an entity or new development has its own forms and contracts, he/she must still find and disclose the same details and risks as in an AMPI approved contract of sale.
If a real estate agent in Mexico or an attorney is unethical, negligent or incompetent, he/she can come under Civil Code charges of its represented state which establishes that the service provider is liable, and the injured party can file a civil action lawsuit.
The client does not need to prove a written contract for services to take this action or worry that a third party would be paying for the agent´s compensation. The client as an injured party does not have to directly pay the bad service provider to prove harm
The Mazatlan Post