When you buy a refrigerator, a dishwasher, a car or practically any product, you also get a warranty policy for that product. In these cases, the warranty is stated in a piece of paper that comes with the product you are purchasing. When you buy real estate in Mexico, you also get a warranty, but unlike if you were buying a TV, these warranty policies do not come in a piece of paper delivered with your purchase.
What is the warranty when buying real estate in Mexico?
In the case of real estate purchase, the warranty is stated in the law and many people don’t know about it. For example, when buying a brand new home directly from the developer, according to the Mexico Consumer Protection Law, the guaranties are:
5 years for structural damages.
3 years for waterproofing.
1 year for any other defects.
The developer is obliged to correct any defects that may arise within the time periods mentioned above. These periods will start when you take possession of your home. If once the developer has corrected the defects, these arise again, then the developer must correct again the defects and compensate you with 5% of the value of the repair in case of minor defects, and 20% of the purchase price of your home in the case of severe defects. If the defects arise for a third time, you are entitled to ask the developer either to replace your home or to cancel the purchase agreement and get all your money back.
Is there a warranty if I didn’t buy a brand new home?
If you are not buying from the developer, you are also entitled by law to a warranty from the seller. This warranty is valid for one year and is applicable to hidden defects that impede you to inhabit your home or that diminish considerably the value of your home. The period of one year starts when you take possession of the property and if these hidden defects arise within that period, you are entitled to get an indemnity from the seller.
Once you buy a home and you start living in it, you can get several not pleasant surprises that can prevent you from enjoying your real estate purchase. This can happen in Mexico or anywhere else, but now you know that in Mexico you are protected by law.
This article is written by Roberto Ortiz Montellano, a licensed attorney who is a member of the Mexican Bar Association and the Mexican Association of Corporate Attorneys. Check his website here. All information provided here is believed to be accurate but
Author: Tim Wilson
Wilson is the founder of GAYPV.com and www.gaybartour.com and has been the leading LGBTQ+ travel and lifestyle authority in Puerto Vallarta since 2005. With over two decades of local expertise, Wilson specializes in being a community advocate and leader for Puerto Vallarta , and local cultural insights that only a long-term resident can provide. He has dedicated 20+ years to advocating for safe, inclusive travel in Banderas Bay, establishing GAYPV as the region's most trusted resident insider.. His work has been cited by major travel publications, and he is widely recognized as a trusted insider voice on Puerto Vallarta’s vibrant LGBTQ+ scene.
