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Essential Real Estate Documentation Guide

The document presents information about the required documents for different processes related to real estate, including rental, sale, and deed registration. It describes the requirements for prospective tenants and sellers, as well as the steps to minimize risks of domain extinction. Concepts such as value opinion, exclusive contract, taxes, and more are also explained.
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0% found this document useful (0 votes)
49 views4 pages

Essential Real Estate Documentation Guide

The document presents information about the required documents for different processes related to real estate, including rental, sale, and deed registration. It describes the requirements for prospective tenants and sellers, as well as the steps to minimize risks of domain extinction. Concepts such as value opinion, exclusive contract, taxes, and more are also explained.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

STUDY GUIDE

The documents requested from the prospective landlord of a property are:

Official identification of the property owner, Power of attorney for administrative acts (if applicable) and
Property title of the real estate

The documents requested from the prospective seller of a condominium property at the start of the process
real estate consulting are:

Proof of address, Condominium property regime, Condominium rules, Plans of the


property, Last payments of property tax, water and electricity service, Letter of no maintenance debt.

To minimize the risks of an action for forfeiture regarding the related assets or
linked to organized crime offenses the owner must do 3 things initially:

1) Research the potential tenant of the property in advance to prevent that person from engaging in illegal activities.
1) From the place, 2) Have documentary references of the person who will be in your property and 3) Have a guarantor.
of the user of that property to which the place was rented.

Methodology to calculate the value opinion, Comparative market analysis

A minimum of 3 to 5 properties is required to develop a market comparison.


with similar characteristics

These are the necessary documents for the notarization of the property:

Original deed registered in the Public Property Registry, property tax payments, and certificate of no
debt, payments for water service fees and certificate of no debt, appraisal by a registered expert,
current certificate of freedom from encumbrance,

They are the necessary documents for the notarization of the real estate property:

Original deed registered in the Public Property Registry, property tax payments and certificate of non-
debt, payment of fees for water service and certificate of no debt, assessment by a registered appraiser,
current certificate of freedom from encumbrances, official identification of the contracting parties, buyer's RFC
and seller, marriage certificate (if applicable), general information of the buyer and seller, notarial powers
valid (if applicable) and proof of no outstanding maintenance fees for the condominium (if applicable).

Income tax can be completely exempted when...

The property is a residence. The owner lived in the property during the period established by the Income Tax Law. No
having sold a property owned by you within the period established by the Income Tax Law.

They are elements that are required to profile a prospective tenant if it is a natural person.
Having a guarantee with real estate with a public deed and free of encumbrance, payments up to date with taxes.
property of the property of the Guarantor and have lease bond/legal insurance.
Elements that make up the exclusive contract
General information of the owner and the real estate intermediary service provider, data of the property
commercial value sale/rent
contractors
and signature of the parties

Means to detect real estate for sale/rent


Printed, electronic, personal, real estate exchange bags, canvassing

Required documents for the property deed


Original deed registered in the Public Property Registry, payment of Property Tax, and certificate of non
debt, payments of rights for water service and certificate of no debt, appraisal by a registered expert
recent certificate of freedom or lien, official identification of the contracting parties and
payment receipts for services

Documents to be attached to the lease agreement


Tenant investigation, identifications of the contracting parties and the guarantor, documentation of the
property as collateral, guarantee if applicable, insurance if applicable.

Taxes and expenses involved in a buying and selling operation


Income Tax, Value Added Tax as applicable, tax on property acquisition,
appraisal, notary fees, real estate professional fees, certificates of freedom or burden, no
property tax and water debt, payment of registration fees in the Public Property Registry.

Documents that make up a file of the real estate


-Exclusive contract, complete deed with registration data in the Public Property Registry,
updated water service receipt, updated property tax payment receipt
identification of the owner(s) and the land use assessment.

They are elements needed to profile a leasing prospect if they are an individual.
Have a guarantee with real estate with public deed and free of encumbrance, payments up to date on taxes
property tax of the collateral and having rental bond / legal insurance.
Documents that contain the lease agreement

Investigation of the tenant including their credit background (if applicable), identifications of the
contracting parties and the guarantor, documentation of the property in guarantee, surety if applicable, insurance if applicable.

The real estate advisor must inform the buyer that they must collect the payment receipts of
taxes and duties, for:
Corroborate the payment of fees and avoid a penalty from the SAT and make them tax-deductible.
resell the property

The taxes to be paid when making a purchase and sale of real estate:
-ISR, Local taxes on property transfer, VAT if applicable

A real estate property incurs value-added tax.


When it comes to a real estate property for commercial use

According to the Federal Income Tax Law, when the cadastral or appraisal value is higher than
10% of the sale value, the percentage to be paid for the ISR for acquisition
It is 20% of the surplus
The rights and expenses that must be paid due to the notarization of the purchase and sale transaction.
son
Registration in the Public Property Registry, Notary fees, Appraisal (if applicable) and Certificate of
freedom from encumbrance.

Salesmanship is a specialized sale focused on detecting or creating the need of the prospective buyer.
moment to visit him at his property or at his workplace

Real estate stock market is a network of real estate advisors, through which properties are exchanged.
prospects sellers and buyers.

Referred to the direct recommendation that is generated by an acquaintance of a prospective buyer.

Mailings is the sending of promotional information by email or printed material to a large number of people.
in a direct and personalized way.

Electronic media are the available media, primarily on the internet, which include social networks and
specialized real estate pages.

Impress Advertising considers all media related to flyers, banners, newspapers, magazines,
banners, spectaculars etc...

Define if it is: (T or F)

In the first contact, provide information about the real estate brokerage service to the prospect.
owner, using common language.

Wait for the prospective owner to formalize the appointment (F)

Ask the property owner prospect about the characteristics of the real estate, addressing general aspects of
same.

Present the prospective owner with the advantages, benefits, and security of working with a professional.
using terminology appropriate to the nature of the property to be marketed, and questions the prospect
owner about their interest and real need for the service contract. (V)

Request the prospective owner for the minimum necessary documentation and information of the property:
Specifying what is required to certify it and obtain the valuation opinion.

Providing professional services is considered a vulnerable activity.


independent, without having an employment relationship with the respective client, in those cases in which it is prepared
for a client or carried out on behalf and representation of the client the purchase and sale of real estate
or the transfer of rights over them. (V)

It is considered a vulnerable activity concerning the establishment of personal rights for the use or enjoyment of goods.
properties with a monthly value exceeding the equivalent of one thousand six hundred five times the minimum wage
in force in the Federal District, on the day the payment is made or the obligation is fulfilled. They will be subject to Notice.
before the Secretary the previous activities, when the amount of the act or monthly operation is equal to or higher
equivalent to three thousand two hundred ten times the minimum wage in effect in the Federal District.

Article 32 of the LFPIORPI states that it is prohibited to comply with obligations and, in general,
to liquidate or pay, as well as to accept the liquidation or payment, of acts or operations through the use of currencies
and banknotes, in national currency or foreign currency and Precious Metals, in the constitution or transfer of rights
real estate assets valued at an amount equal to or greater than the equivalent of nine thousand twenty-five times the
minimum wage in effect in the Federal District, on the day the payment is made or the obligation is fulfilled. (F)

The federal tax that a person incurs when transferring a real estate property is the Tax on the transfer of
owner. (F)

A feature of the real estate market is the sharing of the commission derived from the sale/rental.
of a real estate property. (V)

It is necessary to conduct a socioeconomic study on the prospective tenant.

Every objection expressed by a prospective buyer/tenant has a solution.


FALSE

Every objection is related to addressing a need of the buyer/tenant.

The analysis of the objection with the prospective buyer/tenant must be addressed with empathy.

A feature of the real estate market is the sharing of the commission derived from the buying and selling/renting of
a real estate property.

It is necessary to conduct a socioeconomic study on the prospective tenant.

Every objection expressed by a potential buyer/tenant has a solution.


Every objection is related to addressing a need of the buyer/tenant.

The analysis of the objection with the prospective buyer/tenant should be addressed with empathy. (V)

To determine the estimated value of the property, if similar properties are not found in the same area.
colony, can similar properties from nearby colonies be taken as a reference? (F)

To determine the estimated value of the property, the values of the selected properties are averaged.
(F)

To estimate the commercial value of the property, it is necessary to take into account the capitalization value of
rents.

To determine the estimated value by capitalizing rents, it is necessary to average the values per meter.
square of the selected properties and apply this result to the property under study, and divide this
result with the corresponding factor of the zone and the property. (V)

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