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Quick Guide to Buying Real Estate in CDMX

  1. 1. Panorama of the Real Estate Market in CDMX
  2. The real estate market in Mexico City (CDMX) is characterized by its high demand and diversity of properties. CDMX is the economic and cultural center of the country, which generates a constant demand for housing in areas such as Polanco, Roma, Condesa, and Santa Fe, where prices are high, and other developing areas such as Narvarte or San Pedro de los Pinos, which offer more accessible opportunities.
  3. Factors to consider:
  4. High demand: The price per square meter increases in central areas.
  5. Profitability: From properties in high-end tourist and residential areas.
  6. Variability: In prices per neighborhood and proximity to services such as transportation, hospitals, and shops.
  7. 2. Define Budget and Financing Options
  8. Financing Sources: Bank mortgages, INFONAVIT (Institute of the National Housing Fund for Workers) and FOVISSSTE (ISSSTE Housing Fund).
  9. Additional Expenses: It is important to consider additional expenses, such as notary costs (which are around 4-7% of the value of the property), appraisal, acquisition taxes (such as ISAI), and property payment.
  10. Family Budget and Payment Capacity: Tools such as the CONDUSEF credit simulator help calculate monthly payment capacity.
  11. 3. Choice of Area and Type of Property
  12. CDMX offers a variety of housing options, from apartments in modern buildings to colonial houses. Key factors to consider include:
  13. Security and Capital Gains: Review the historical growth of capital gains in specific neighborhoods.
  14. Access to Public Transportation: Places close to the Metro and Metrobús have greater demand.
  15. Investment in Developing Areas: Areas such as Iztacalco and Azcapotzalco are experiencing a boom.
  16. 4. Procedures and Essential Documentation
  17. To avoid legal problems, it is essential to have the following documents:
  18. Public Deed: Formalizes the sale before a notary and is registered in the Public Property Registry.
  19. Certificate of Freedom from Liens: Guarantee that the property is free of debts or mortgages.
  20. Appraisal: Performed by an authorized expert, it establishes the real value of the property.
  21. 5. Signature and Registration Process
  22. The last step is the signature before a notary and the registration of the deed in the Public Property Registry. The buyer must ensure that the process is supervised by professionals to avoid fraud.
  23. Necessary Documents for the Purchase of Real Estate in CDMX
  24. Public Deed: This is the most important document, since it certifies that the buyer is the new owner of the property. It is formalized before a notary public.
  25. Certificate of Freedom from Liens: This document shows that the property is free of debts or mortgages. It is requested at the Public Property Registry.
  26. Official Identification: INE or passport of the buyer.
  27. Proof of Address: Required for notarial and banking procedures.
  28. Proof of No Water and Property Debt: Verifies that there are no outstanding debts on the property.
  29. Purchase and Sale Contract: Document signed by both parties that defines the terms of the transaction.
  30. Appraisal: Carried out by an authorized expert, it is a requirement for most mortgage loans and determines the real value of the property.
  31. Birth Certificate and CURP (for nationals) or immigration documentation (for foreigners): Necessary to prove identity.
  32.  For more information on how to invest in real estate, follow us on our social networks or visit our website http://coldwellbanker.com.mx

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