- Don’t confuse appreciation with cadastral value, as each one has its own function.
- Pay attention to terms like “alienated by the treasury,” as it means it’s seized.
You may be at that stage in life where you consider it a good time to invest in real estate, but something is holding you back from taking the first step. This might be because you’re not familiar with similar topics or fear falling victim to a scam due to unfamiliarity with the terms commonly used in the real estate world.
But don’t worry, at Coldwell Banker Mexico, we want you to fulfill your dreams of owning your first home or acquiring a new one. That’s why we’re presenting you with some real estate terms that will give you confidence when talking to sellers; terms that will likely impress one or two people.
- Cadastral Value: It’s the valuation of a property, taking into account aspects such as location, dimensions, construction style, and materials used. But it’s important not to confuse it with the plus value because they are two different things, although they may complement each other over time. The cadastral value will help you calculate the property tax later on.
- Appreciation: As mentioned, this term and the previous one are different. Appreciation consists of the value of a home due to reasons unrelated to the owner. This can be due to the cost of the land or investments made in the property by the owner or administration.
- Encumbrance: Refers to the obligation or tax applied to a property and falls on the person acquiring it as a guarantee of payment; it must be registered in the Property Registry and can be for land use or structuring. In the real estate sector, it is also called real encumbrance.
- Home Staging: It’s a part of real estate marketing that involves preparing and enhancing a property, creating a more attractive space for most interested parties, thus making it easier to sell or rent.
- Capitalization Rate: It’s an annual calculation between the income and value of a property. This value is important to know because it will help you if you want to sell the property in the future; it’s the real estate agent who should provide you with the data.
- Alienation: Refers to the action that allows the previous owner to transfer the rights of the property to the new owner. For this, there must be an adjustment in the documentation, or new deeds at the time of purchase, establishing the rights or obligations of the residence. But beware, if you hear “it’s alienated by the treasury,” it means it’s seized.
- Seizure: It’s the retention of a property in order to settle a pending financial debt of the owner. In this case, not paying the mortgage obtained from a federal entity to acquire the home can lead to a seizure.
We know that as you progress through the procedures, new words will appear that you will not know, but we believe that with the ones presented, you will have a less complex experience when buying a home.
So don’t be afraid to acquire a new property to start your independence or move with your whole family. The important thing is that you feel safe and happy when climbing this important step in your life.
https://blog.coldwellbanker.com.mx/beneficios-inteligencia-artificial-inmuebles
Reference sources:
https://www.icasas.mx/noticias/diccionario-de-terminos-inmobiliarios
https://www.lahaus.com/blog/comprar-vivienda/glosario-inmobiliario
https://inmocodix.com/tienes-dudas-conoce-los-terminos-inmobiliarios-usados-con-frecuencia