Buying a home implies acquiring many responsibilities, you can do it in several ways, either through a mortgage loan through Infonavit, Fovissste or a loan with a bank. The options are several and each one has its advantages and disadvantages depending on your case.
Another option to acquire a house for your family is through a « transfer », if you do not know what it is and how it works, here we tell you. In general, it refers to assigning the rights to another person to something, it can be a house, a car, etc; this term is not specific to the purchase of real estate.
We tell you what a transfer is. Photo: Pixabay
In the particular case of real estate transfers, they could represent a risk if they are not legal, according to data from the company Buy Your House, which is dedicated to the purchase and sale of pre-owned houses in Mexico. Therefore, it is most advisable that you do this procedure correctly to avoid being a victim of fraud.
There are some cases where people make a transfer without having any endorsement paper, they only do it because of the trust they have in the other, but this is the worst mistake you could make since this is not the best way to make you a property.
Therefore, it is best to have legal support when making a transfer, for example, you must do it before a notary and have a document of transfer of rights or recognition of debt.
It is important that you know that Infonavit does not recognize transfers, so if the person who owns the loan dies, the property will be automatically delivered to its beneficiaries, so you could lose it and with it your invested money, this even if you have Some document signed by the person who gave you the house.
In cases where you cannot continue paying your credit and you want to sell your property to end the debt, Mario Noyola and Miguel Berrones, directors of the company, recommend three things, which we will tell you below.
1. Rent the home
Before deciding to sell it, you can rent it out, since as we mentioned before, it is not legal to sell a house that has not been paid for.
2. Return the home to Infonavit
This process is known as Dación de Pago Infonavit, which consists of returning the home to the institute so that the debt is paid, the only detail is that you will not be able to recover any of the money you invested in it, or in the payments you have already made or in renovations, if any. This will only serve to end the debt.
3. Sell the property legally
There are several companies that can help you do it, we recommend you look for several options and decide on the one that suits you best. Remember that it is important that the company for which you have decided to advise and accompany you throughout the process.
For more information visit the Credits section.