Mexico finally approved a law that protects real estate buyers
in the state Quintana Roo by regulating sales agents and others
who offer real estate services. The new law became effective in
March of 2015, aims to regulate and unify real estate practices in the state.
This law makes transactions safer for anyone purchasing real estate properties
in Quintana Roo. Quintana Roo is the 14 state to pass a real estate law in
Mexico to regulate the field and protect the buyers.
The Ministry of Urban Development and Housing
of Quintana Roo or Seduvi in short (abbreviated for its Spanish initials) will
now keep track of every consultant working in the real estate field in the
state. The new law will only allow those with the proper accreditations to provide
any real estate services. Any real estate agent found working without the proper
credentials could be fined up to $4,400 USD.
According to Miguel Angel Lemus Mateos, the president
of the Mexican Association of Real Estate Professionals (AMPI) of Cancun, out
of the 1,500 consultants working in Quintana Roo, only about 600 are properly
registered with AMPI.
It is crucial to regulate and make the real
estate sector safe for foreign investors because real estate investments
represent the second largest economic income for Mexico. Currently, only 44
people nation-wide hold a Mexico Real Estate Business university degree, backed
up by the Federal Department of Education (SEP). Thomas Lloyd, Top Mexico Real
Estate founder was the first ever person to receive the SEP license in Mexico.
The Top Mexico Real Estate team is made up of a
group of professional and properly registered Real Estate Buyers’ Representatives
who have the accreditations necessary to protect their clients.
When looking to purchase real estate in Mexico it
is important to work with a real estate agent who knows the real estate market,
the laws, and is able to make the process safe and easy. That is why finding an
agent who has a national license to practice, provides you with safety,
protection, and confidence.
If you are looking to invest in Mexico, browse
through our website and contact one of our registered
Buyers’ Representatives. We will be happy help you in finding your dream home in Mexico.
And remember, here at Top Mexico Real Estate…
We Make It
Happen!
