Guadalajara, Jalisco.
Although there is no accurate data to measure the real estate fraud in Mexico and Jalisco , the president of the board of directors of the Treestate certifier argued that the figure has increased outrageously over the last three years. It has been crazy! he said.
“I don’t have the exact data because every month there is a new event at the national level called vertical housing and now with nearshoring, there are people who are taking advantage of the opportunism.”
The only data that reflects part of the reality regarding real estate fraud comes from the Executive Secretariat of the National Public Security System (SESNSP). They reveal that in 2018 there were 6,960 complaints of real estate fraud in Jalisco ; in 2019, 7,150; 2020, 6,522; 2021, 7,271; 2022, 7,999 and 2023, 10,266.
- In light of this situation, the Treestate certifier and one of the largest global insurers, Berkley Mexico, signed an alliance to offer a guarantee policy for new developments in Jalisco to legally protect the assets of those who invest.
Diego Espinosa de los Monteros said that although efforts have been made in Jalisco to prevent real estate fraud , such as the approval of the Law that establishes the Registry and Accreditation of Real Estate Service Providers, sanctions have yet to be applied.
“The real estate law that was approved last year is not mandatory and we are still considering how it will be sanctioned.
It is aimed primarily at the real estate sales industry. NOM-247 does establish sanctions ranging from 300 pesos to 3 million 500 thousand pesos in the event that they fail to comply with the requirements established by NOM-247, that they do not register their adhesion contracts with Profeco or if they are registered and do not comply with what they are offering. There are certain sanctions established and it is mandatory.
Among the cases of real estate fraud that have come to light in Jalisco are: Asesores Jurídicos Profesionales (AJP) and the Creso financial institution, to name a few.