How to Spot Scams or Real Estate Red Flags
Sellers
If a buyer offers to purchase your property sight unseen that is a red flag. As the saying goes, “If it seems too good to be true, it probably is.” Serious buyers will want to tour the property in-person, conduct an inspection and negotiate on the price.
Beware of sending sensitive property ownership or banking documents. Once you and a buyer have negotiated a price, it is time to consult a notario público. They can guide you through the legal process and paperwork and ensure all steps are taken to protect everyone involved.
Buyers
Deposits and payments should be handled via a reputable escrow service rather than sent directly to the owner. In Mexico, a notario público is a highly regulated lawyer appointed by the state, not just someone who stamps documents. All legal closings must go through one. If someone tells you, “We don’t need a notario,” it is a red flag.
The notario is the one who actually transfers title and registers it in the Public Registry. The notario will advise you and the seller regarding deposits and payments for the property using an escrow account to protect all parties and follow proper procedure.
Summary: trust your instincts, take your time, verify everything in writing and consult a notario público before sending documents or funds. If something feels too good to be true, it most likely is.
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