- The purchase agreement ensures the legal protection of both parties’ rights and obligations.
- It should include fundamental aspects such as identity details, costs, deadlines, property features, among others.
Buying a house, apartment, or land is an important decision that should not be taken lightly, especially due to the investment involved and the high risk of falling victim to fraud. Therefore, anyone interested in acquiring a property should be informed about all aspects involved, and one of the most important elements in this process is the purchase agreement.
This document, which is a legal agreement between the seller and the buyer of a real estate property, is crucial as it establishes the terms, conditions, rights, obligations, and specific responsibilities of both parties during the purchase or sale of the property. If not well-drafted, there is a risk of losing the property even if it has already been paid for. Moreover, as previously mentioned, there are many individuals looking for opportunities to commit fraud, whether by falsifying information, impersonating the owner, or invalidating payments.
For this reason, Coldwell Banker presents some of the basic aspects that the agreement should contain to help you avoid disputes or breaches in the future that could jeopardize your assets.
- Identity Details: Firstly, it should clearly and thoroughly specify the identity of the buyer and the seller. This includes their full names, addresses, and identification details, ensuring that the transaction is transparent and free from confusion.
- Property Description: It is essential to thoroughly establish the characteristics and conditions of the property being sold. This includes details such as the exact location, its cadastral registration number, dimensions, space distribution, as well as specifications of the services and facilities available, such as water, electricity, gas, among others. Also, ensure that these taxes are up to date to avoid future issues.
- Cost, Payment Method, and Deadlines: The contract must include information about the agreed price and the established payment methods. It is important to set precise deadlines and amounts, as well as the conditions to enforce warranties in case of breach. Additionally, clauses about the consequences of contract termination and the legal responsibilities of both parties should be included.
- Additional Services: The clauses should also specify the payment details for services not included in the sale price, such as the cost of structural repairs, utility arrears, or hiring a notary to validate the documentation. This last point may be of particular interest to those using a mortgage loan.
- Delivery Date: Although it may seem obvious, this is an essential detail that should not be overlooked. Setting a date for the delivery of the property can be crucial if repairs need to be made before the final handover. If not included, delays could be considered a breach of contract. Additionally, on the day of delivery, both parties should sign a receipt to confirm that the property meets the agreed-upon characteristics.
In conclusion, this legal document plays a crucial role in ensuring a transparent and secure transaction. Being informed and paying attention to these fundamental aspects can help avoid confusion, fraud, and ensure a successful property acquisition experience. Remember, if you have any doubts, it is best to consult a qualified professional to guide you through the process securely.
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Fuentes de consulta:
https://blog.vivanuncios.com.mx/bienes-raices/comprar-casa/contrato-de-compraventa-de-casa
https://www.inmuebles24.com/noticias/tips/agentes-inmobiliarios/contrato-de-compraventa-de-inmueble
https://www.bbva.mx/educacion-financiera/creditos/en-que-consiste-el-contrato-de-compraventa.html
https://propiedades.com/blog/informacion-inmobiliaria/contrato-compraventa-inmuebles-mexico
https://www.alvarezramosabogados.com/la-nulidad-del-contrato-de-compraventa