The Mexican Association of Real Estate Professionals of Mazatlán warns about the risks of acquiring a property in presale.
The president of AMPI Mazatlán, Ismael Tirado, assured that there is no record of fraud, what has been detected are delays in real estate projects.
“There are many delays with two or three developers who either due to financial problems or paperwork have been delayed and are not fulfilling the deliveries of the promise they are making in the presale contract, that is where the most serious problem that Mazatlán has had is occurring,” he said.
Therefore, he pointed out the importance of taking legal precautions before acquiring a property.
“The first thing to check is to investigate who the developer is, what reputation and what history they have. The second is to make sure that they have the necessary construction licenses and permits, complying with all legal requirements in accordance with the legal framework of construction, if the developer does not have the corresponding licenses, the risk of fraud is greater,” he said.
He also mentioned that if a developer has the licenses and the municipal authorization and has already been legally reviewed, it implies that it has been proven that the property is his property and that it complies with the technical requirements, which considerably reduces the risk of fraud.
Ismael Tirado indicated that the sanctions will have to be given by the corresponding authorities. In the case of the City Council granting the construction licenses, it does not evaluate the commercial issue.
“The association brings together developers, real estate agents, real estate agencies and what it does is guide them so that they can carry out good practices. We are not a regulatory body, but if there is a client who feels that they have been failed, who needs guidance or advice, we give it to them,” he concluded.
Source: elsoldemazatlan
