Glossary · Escrituración (closing before a notary)
What is closing (escrituración) in Mexico?
Closing (escrituración) is the signing of the public deed of sale before a notary (notario público), after which the buyer owns the unit and the title is recorded in the property registry. For a developer it's the last step of the sale. In preventa it happens when the project is delivered, sometimes years after the reservation and the down payment.
How does escrituración work?
- The developer delivers the project and the buyer accepts the unit.
- The buyer pays the balance in cash or with a mortgage.
- The notary reviews the documents and prepares the public deed (escritura).
- Both sides sign the deed, and the buyer pays closing costs and taxes.
- The notary records the title in the property registry.
Closing costs usually run 7 to 11% of the property price: taxes, notary (notario público) fees and registration. The buyer pays them at closing, so it's better to give the figure during the sale.
What does the sales team have to do with it?
A long time can pass between a preventa reservation and closing. If nobody stays in touch with the buyer in the meantime, they learn about closing costs at the last minute, and that hurts trust and referrals.
- Cover escrituración costs at the meeting, before the reservation, at least in broad terms.
- Track the buyer in the CRM through closing before the notary, not just through contract signing.
- Assign someone to own the deal after the sale: often this is no longer the rep who sold it.
Why does this matter for future sales?
A buyer whose closing went smoothly recommends the project and comes back for a second apartment. A buyer whose closing dragged on or cost more than expected tells the people who are still choosing a project.
FAQ
When does a preventa buyer become the owner?
After signing the deed before a notary and recording the title, which usually means after the project is delivered. Until then the buyer has a promise-to-purchase agreement with the developer and a payment history.