{"id":20060,"date":"2022-03-12T00:00:46","date_gmt":"2022-03-12T05:00:46","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/blog\/?p=20060"},"modified":"2022-03-12T00:30:24","modified_gmt":"2022-03-12T05:30:24","slug":"buying-house-physical-and-legal-delivery","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/blog\/2022\/03\/buying-house-physical-and-legal-delivery\/","title":{"rendered":"Buying Your House Long Distance: Physical and Legal Delivery"},"content":{"rendered":"

The next step of the process of buying your house in Mexico<\/a> is physical and legal delivery.\u00a0<\/span>Physical delivery of the property is another way to say that you get the keys. You and the seller sign some documents acknowledging that the physical possession of the property now lies with the new owner.<\/span><\/p>\n

Regarding the purchasing process, there are two scenarios. <\/span><\/p>\n

Physical and Legal Delivery of Finished House or Condo<\/span><\/h4>\n

First, you have a finished house or a finished condo.\u00a0<\/span>What usually occurs is that buyer and seller go to the property first. They do one physical review to make sure everything is in good condition. This is to ensure that, as stated on the promissory contract, the water is functioning, nothing is missing, and everything is already working well, the pool, the gym, etc.<\/span><\/p>\n

\"Physical<\/p>\n

We call the legal delivery when the title has been registered with a notary public. The notary public\u2019s function is to witness, verify, and make official that the buyer has transferred the money to the seller. There are no taxes, payments, or liens on the property, and physical delivery is taking place.<\/span><\/p>\n

Once you have confirmed that, the buyer and seller sign a document that everything is in good shape. Then they go to the notary public to sign for the legal transfer, and at that time, the keys are handed to the new owner, and the process is complete.<\/span><\/p>\n

Pre-construction in Mexico<\/a>\u00a0<\/span>Physical and Legal Delivery <\/span><\/h4>\n

Now there\u2019s another scenario. It is more that it is a second wait that does occur on the physical delivery.\u00a0<\/span><\/p>\n

There are times in pre-construction when a buyer finds a house or a condo. The property is not complete yet, but because of the unique conditions or special discounts that the developer is offering, a buyer is motivated to make the purchase and allow the developer to continue working until it\u2019s finished.<\/span><\/p>\n

\u00a0This is where the definitions of p<\/span>hysical and legal delivery\u00a0<\/span>become essential. In this case, the developer can finish eight months in the future. Hence, the promissory contract will state that the buyer can take physical possession when the property is complete as outlined therein.<\/span><\/p>\n

\"Physical<\/p>\n

It is always advisable that you take physical possession of it and make another payment. In our process, we always outline that if the developer still needs to complete things, the buyer can hold back 10 or 20% of the payment until the last step. When the property is in the conditions stated at the promissory contract and the documentation is complete, it is time to go to the notary public and get the legal possession.<\/span><\/p>\n

Important Things That you Should Review on a Physical Delivery<\/span><\/h4>\n