What you need to know when your purchase a home

Before you share documents or send a deposit, ask the agent for their registration number and look it up. It takes five minutes and it filters out most of the people who should not be handling your money.

Step 1: Ask for the registration number

A registered agent gives it to you without hesitation, in writing. Ask for the agency’s registration too, not only the person’s.

Step 2: Check it on the state roster

Search the name and number on the SEDETUS roster for Quintana Roo. The name, the agency and the status should match what you were told.

Step 3: Ask who the agent works for

Many people who sell in the Riviera Maya are paid by a developer. That is not illegal, but you should know it before you take their advice on a presale. Ask directly: “Do you represent me or the developer?”

Step 4: Get the closing costs in writing

Buyers usually pay 7 to 10% of the price in closing costs: acquisition tax, notary, fideicomiso setup and permit, appraisal and registry. A serious agent puts this in writing before your offer.

Red flags

• Deposits to a personal bank account instead of escrow or a company account that matches the contract.
• Presales with no land title or building permit you can see.
• Sales events abroad where nobody can show a Quintana Roo registration.
• Pressure to sign the same day.