Step-by-step process of selling a property

Selling a property is a complex process, so I'll share with you a brief and simplified explanation of how a sale unfolds step by step:

Step 1 - The offer or purchase proposal

When the buyer decides on your property, the offer or purchase proposal will be formally made. This document is accompanied by a monetary amount which, if accepted, becomes a deposit, and if not, the amount is refunded.

The buyer's agent or, if applicable, the mediator, is responsible for guiding the buyer in creating this document. This offer must include all conditions: if the interested party needs or wants financing; what the timeline is for legal documents and how long the delay is for delivering the house. Also, consider and be clear if the purchase will be made in cash, as it is always better to make a bank transfer; or a check from an account hosted in the country where you reside to avoid any problems with the source of funds.

Step 2 - Acceptance of the offer

If you accept the offer, the step will be taken to create all the relevant documentation for the property. For example: private sales contract, request for documentation from organizations if applicable, bank appraisal, etc.; until we reach the point of signing the sales deed at the notary.

It is very important that a professional real estate agent knows the entire procedure so that the operation meets all deadlines. Remember that failure to comply with any clause leads to financial penalties.

Step 3 - The closing

This is done at the notary and all the necessary documentation that the notary requires must be prepared. This documentation includes:

• Certificate of being up to date with payment of the homeowners' association fees and no pending assessments.
• Energy efficiency certificate.
• Certificate of outstanding balance if the property being transferred has a mortgage.
• Last paid property tax receipt.
• Property deed.
• Occupancy certificate.

Meghan & Noe

Hi there! We are Meghan & Noe Yucatan Living 👩🏼🧒🏻 We are your trusted bilingual (English and Spanish) realtors based in Merida, Yucatan, Mexico.

We guarantee reliable and honest representation whether you want to buy or sell a property.

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