At RIVIERA & YUCATAN REAL ESTATE AGENCY, we are knowledgeable about real estate laws in Mexico, and thus we strictly adhere to the guidelines within the legal framework.

NOM-247-SE-2021 “Commercial practices - Commercial information and advertising requirements for residential real estate - Regulatory elements for the contract”

This standard came into effect on September 20, 2022, and is mandatory nationwide for developers, promoters, real estate agencies, and sellers of residential real estate, whether for presale, direct sale, or through digital means.

1.Objective and Scope of Application

Establishes the minimum commercial information and advertising requirements for the sale of residential real estate. It also determines the elements that must be included in adhesion contracts registered with PROFECO.To whom does it apply?

  • Real estate developers
  • Builders
  • Sellers or promoters
  • Real estate agencies
  • Any individual or legal entity that commercializes residential real estate in Mexico

2.Key Definitions

Some important definitions in the standard:

  • Residential real estate: Land, house, apartment, or other built space intended for housing.
  • Advertising: Any communication intended to promote the sale of the property.
  • Adhesion contract: Document approved by PROFECO that regulates the commercial relationship between buyer and seller.
  • Commercial information: All data provided to the consumer before signing a contract.

3.Mandatory Commercial Information Prior to Sale

The information that must be provided to the consumer before signing the contract includes:

  • Name, company name, and address of the provider
  • Exact location of the property
  • Land and construction area (private and common)
  • Total price and, if applicable, payment terms, down payment, and financing
  • Type of property (horizontal or vertical)
  • Lot or private unit number
  • Estimated physical delivery date
  • Services and equipment included
  • Property regimes (condominium property, subdivision, etc.)
  • Indication of whether or not it is registered with the RAN (National Agrarian Registry) or RPP (Public Property Registry)

4.Property Advertising

All advertising (print, digital, social media, etc.) must be:

  • Truthful and verifiable. It cannot mislead or deceive.
  • Must match the actual conditions of the property.
  • Images must correspond to the actual project (misleading renders are not allowed).
  • If it's a presale, it must clearly state that it is a project under development.

5.Mandatory Adhesion Contract

Must be registered with PROFECO and contain at least:

  • Complete data of the provider and the consumer
  • Clear description of the property (lot, measurements, boundaries, etc.)
  • Total price of the property and payment method
  • Deadlines for property delivery
  • Penalties for non-compliance by either party
  • Procedures for cancellation, refunds, and guarantees
  • Indication of whether the consumer can withdraw from the contract
  • Signature of both parties

Furthermore:

  • The contract must be written in clear Spanish and without abusive clauses.
  • The consumer must receive a signed copy.

6.Guarantees

The provider must offer a guarantee for:

  • Hidden defects (defects in construction, electrical, hydraulic installation, etc.)
  • The minimum warranty period will be that established by applicable legislation (Civil Code or Consumer Protection Law).

7.Consumer Rights

  • Access to truthful and complete information
  • Right to a copy of the contract and payment receipts
  • Right to terminate the contract under certain conditions
  • Right to demand fulfillment of guarantees
  • Right to have the conditions offered in advertising respected

8.Verification and SanctionsPROFECO and other authorities can:

  • Visit and inspect offices and developments
  • Request information, advertising, and contracts
  • Impose economic sanctions or closures for non-compliance
📝 Annexes

The standard includes model clauses and minimum structures for:

  • Sales contracts
  • Pre-sale contracts
  • Mortgage loan contracts
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