Purchasing a property is a big decision for your future. Your family will thank you, and it will be the start of better experiences; but, like any business, before investing you should get informed and understand the basic concepts of the real estate buying process.
We list these concepts here to make your investment easier and ensure it goes as expected, smoothly and with plenty to enjoy.
This is a loan granted for the purchase of a home, using the property itself as collateral or "mortgaged" to guarantee repayment of the loan.
Loans have two types of interest rates: fixed, which does not change during the life of the loan, and variable, which increases or decreases according to payment amounts.
If you plan to buy a house with a real estate loan, amortization is the monthly amount you will pay to cover the debt with the institution that provided the loan.
This is an estimate of a property's value, based on an analysis of the location's features, equipment, and includes market research.
A document through which the buyer and seller agree on the price and delivery date of the property.
This refers to the correct legal status of a property in the buying process. It is obtained through the notarization of the property.
This is the process carried out before a notary to recognize a person as the owner of a house. It is a procedure done after acquiring the property.
This refers to the charges or taxes applied to a property. When investing, it is advisable for the home to be free of liens.
This is the increase in market value that a house gains over time. It usually rises due to factors such as location and area growth.
We help you find your new home
Now that you know the basics of buying a property, the next step is to choose where to invest and with whom. Would you like to live in the Riviera Maya and have the best real estate service? Grupo Emerita offers that and more.
We are an agency with various luxury sites to live in the most privileged areas of the Mexican Caribbean. Learn more about us and invest in your new home with security, confidence, and the best advice.
You may be interested: Grupo Emerita: a developer with experience.
