When does the closing process begin?
The clock starts ticking when all the documents, including the power of attorneys and the receipts of fideicomiso fees (if applicable) are delivered to the notary’s office.
What is a letter of instruction?
In case of a sale where the property is owned through a fideicomiso, the letter of instruction is a document prepared by the notary and signed by the seller or his/her legal representative instructing the bank to cancel or transfer an existing fideicomiso.
Does it make sense to place the property under the name of the buyer’s child?
If the parents put the property to their child’s name, the property will not be able to be sold until the child reaches the adult age, and once that happens the child will be able to sell the property to the third parties only (not to his/her own family). In order to sell the property…
What is the seller’s bottom line?
The bottom line refers to the least amount of money that the seller is willing to accept as an offer. In most of the cases, the sellers don’t like to share this information as they want the agent to negotiate the highest price possible with the buyer.
