Etiqueta: Escrow services

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TIPS TO KEEP YOUR HOUSE COOL THIS SUMMER

Wednesday, June 21st, 2023

By Jessica Hernández

Today summer has begun, which is marked by the summer solstice in the northern hemisphere of the planet, while winter has begun in the southern hemisphere. 

In Mexico as well as in other countries in the northern strip, summer means a break from school activities and work, many people choose to relax in tourist destinations such as beaches, and some others stay at home, however, as we know we are experiencing high temperatures in most of the states of the country. If you are staying at home this summer break, we tell you in this article some tips to keep your home cool and enjoy these relaxation days.

1.- Say yes to plants

In addition to giving color and life to your house, these will make the environment fresh. Among them, we can find spider plant, peace Lily, rubber plants, elephant ear, snake plants, ferns, and pothos. Likewise, without watering the soil of these plants constantly so that they do not rot, you can spray them only on their leaves, so you will notice how your home refreshes immediately.

2.- Limit the sources of heat

Turn off electrical appliances that you are not using (remember not to leave them on standby either), as they are an unnecessary source of heat (as well as energy waste).

3.- Crossed ventilation

This involves wind entering through a vent (or a window or door), and allowing air to flow directly through the house and out through an opening on the other side of the home. Take advantage of the fresh air during the night, and, as far as possible, leave your windows and doors open, so all the spaces of your house that were sultry during the day are ventilated.

4.- Clear spaces of unnecessary objects

The more stuff you have in the room, the more likely it is for heat to build up. We recommend that you gradually get rid of unnecessary objects and less sentimental value that so often get hot and help perpetuate the stuffy environment.

Take advantage of a cooler summer afternoon to get them out of your room. You have three options: throw them away when they are old, reuse them to create different decorative pieces, or put them up for sale to earn some money.

5.- Opt for cool and thin fabrics

During this hot season change your sheets, covers and tablecloths for much thinner fabrics and light colors, cotton and linen will be your best allies.

Well, these are just some recommendations to have the best possible time this summer. Remember to stay hydrated and avoid going out when the sun is at its peak. Also, always use sunscreen. If you have pets, keep them hydrated and in a cool place under the shade, and if it is in your possibilities, remember to place a bowl with water for stray dogs. Small but significant actions will make a difference.

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WHAT TAXES MUST BE PAID IN A PROPERTY PURCHASE-SALE PROCESS?

Monday, June 19, 2023

By Jessica Hernández

We know that in a sale-purchase process, in addition to paying the total amount of the property, there are taxes and other aspects to consider within the budget to purchase the property.

In the following article, we will tell you what taxes each of the parties involved in the said transaction must pay.

According to the Tax Administration Service (SAT) portal, when income related to housing is obtained, either by selling or leasing real estate, Income Tax (ISR) must be paid. It is essential to clarify that this amount is not fixed, and its value will depend on a specific characteristic, which is the location of the property, in this sense, it is a notary who will determine the total amount of ISR to be paid by the seller.

However, the payments that the buying party must make are the Public Registry of Property, the Transfer of Domain, also known as the ISAI (Real Estate Acquisition Tax), as well as the cadastral service, and finally, the notary’s taxes, since its function is to identify the parties that are celebrating the operation, provide certainty about the characteristics and state of the property, as well as recognize the form of payment (transfer, cash, etc.), and give the notification corresponding to the SAT in case the property has a cost greater than MXN 1,075,000.00.

Acquiring or selling a property can be a simple operation for the parties involved as long as professionals carry out the process. Remember to go to SILMÉXICO to receive advice on your real estate transaction.

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THE ARCHITECTURE OF OAXACA: AN ARTISTIC TREASURE OF MÉXICO

Friday, June 16, 2023

By Jessica Hernández

The architectural legacy that the colonial era left in Mexico together with the traditions of the different states give a great identity to the entire Mexican territory. Oaxaca is precisely recognized for its buildings with unique facades, mixed between museums, churches, and old houses dating from the 1500s, together, these are part of a relic and architectural treasure that shows the ornamental richness of that time.

 

Not only in the city, which is considered a cultural heritage of humanity for all the tangible and intangible assets that it guards, there are also in other parts of the state buildings that are worth admiring for their colonial quarry design.

 

To talk about them we will start with the variety of religious temples:

 

In Oaxaca, as in most of the states of Mexico, there are numerous religious temples built during colonization, among them, we can find the temple of Santo Domingo and its ex-convent, the church of La Soledad, the temple of the Barrio de Jalatlaco, the church of San Felipe del Agua, Carmen Alto y Bajo, Church of the Ex Marquesado, and of course, the Cathedral located in the city’s main square, among many others. Most of these temples were built in the Baroque style, others in the Classical and Neoclassical styles. Currently, these temples are still in operation celebrating masses, their green and yellow quarry facades stand out with their internal decoration in the Baroque style.

In Oaxaca, as in most of the states of Mexico, there are numerous religious temples built during colonization, among them, we can find the temple of Santo Domingo and its ex-convent, the church of La Soledad, the temple of the Barrio de Jalatlaco, the church of San Felipe del Agua, Carmen Alto y Bajo, Church of the Ex Marquesado, and of course, the Cathedral located in the city’s main square, among many others. Most of these temples were built in the Baroque style, others in the Classical and Neoclassical styles. Currently, these temples are still in operation celebrating masses, their green and yellow quarry facades stand out with their internal decoration in the Baroque style.

Among other buildings of this style are the arches of the Xochimilco neighborhood, nestled in a narrow cobbled street, these functioned as an aqueduct that supplied water to the city. The Plaza de la Constitución, or as we mostly know it, the zócalo, in its colonial times only consisted of a marble fountain, which was replaced years later by the kiosk and has been modified over the years. The government palace is located in this same square, which held its first council session in 1576.

The city of Oaxaca and the state, in general, is home to many buildings that have their origins in colonial times, although some do not retain their original construction due to the earthquakes that have struck Oaxaca in different years, they have been rebuilt, seeking in each remodeling the take care of his style so that the state preserves its viceregal essence.

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DID YOU KNOW THAT INVESTING IN THE REAL ESTATE INDUSTRY IS ONE OF THE SAFEST TRANSACTIONS?

Wednesday, June 14, 2023

By Jessica Hernández

That’s right, the real estate business is considered the safest because it is one of the fastest-growing industries. Investing in real estate offers you a safe return on investment, you must be visionary and patient to understand that an investment today will give results tomorrow in the short and long term, for example, if you buy a property and market it as income, for short or long stays, you will immediately start generating profits and in a few years you will have recovered your investment, in addition to ensuring a heritage for your future. 

As the phrase says, the currency is devalued, the real estate is not. Unlike a car, which over time, no matter how equipped it is, its value will decrease, comparing it to a property; the more time passes, the more its value will increase, which is why it is not considered a risky investment, unlike other industries. In this sense, in the real estate sector, inflation is an element that plays in its favor.

Another of the benefits offered by this investment is buying both at auction and pre-sale prices. The properties at auction usually exist due to seizure processes, they remain as collateral in loans, since these are not settled, the bank proceeds to carry out the corresponding seizure and finally to auction off the property at 50% of its value. The important thing about buying pre-sale for pre-construction is that the prices are lower compared to the costs of already completed works.

As for Oaxaca, it is a state that is undergoing economic development, which is why the demand for housing has increased and will continue to do so considerably. With the upcoming opening of the new highway that connects the city with beach tourist destinations, the number of both national and foreign tourists will multiply, which also places the state in the eye of investors.

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CERTIFICATIONS FOR SUSTAINABLE BUILDINGS

Monday, June 12, 2023

By Jessica Hernández

In the article The Importance of sustainable development the term “sustainable development” was discussed and how it has been increasingly positioned in the real estate framework. As mentioned, currently more importance has been given to the conscious construction of buildings in terms of being respectful of the environment where said building is located. Due to the notable growth that has been observed in cities and the development that will come in the near future, certifications have been established whose purpose is to regulate the operation of new buildings, taking care that they contribute to the preservation of the environment and that spending of water and energy is moderate, as well as the adequate use of existing natural resources. 

 

Mexico ranks ninth in sustainable buildings worldwide, with a number of 305 certified buildings, which is little for the volume of buildings that exist throughout the country, which is why developers are now focused on building projects with non-invasive greens.

 

Below we present one of the main certifications that new developments, including some already existing ones, seek to guarantee their sustainability.

LEED CERTIFICATION

 

The acronym LEED (Leader in Energy Efficiency and Sustainable Design). It is a system implemented internationally and is based on market criteria to renovate and build high-efficiency sustainable buildings.

Within this certification different types depending on the type of building. Whether it is new construction, schools, shops, warehouses, hospitals, logistics centers, housing, or urban planning, among others.

 

Depending on the degree of sustainability and excellence of the building, 4 different levels of certification can be obtained, each with its own hallmark, according to the score obtained.  

How to obtain the certification? 

Step 1. Registration 

Register the project by completing forms for each type of certification and submitting payment of the registration fee, which is paid in advance at the time of registration. Ensure that the project meets all Minimum Requirements of the LEED program. Construction projects pursuing LEED certification must: 

  • Follow environmental laws.
  • Be a complete and permanent building.
  • Use a suitable plot or type of soil.
  • Meet the minimum floor area requirements.
  • Meet the minimum occupancy requirements.
  • Be willing to share building-wide energy and water usage data.
  • Fulfill with a minimum ratio of construction area/plot or land area. 

The https://www.leedonline.com/Index/index can be used to register. 

Step 2. Application 

Once the project has been registered, the required documentation must be collected and submitted for review. In this step, members of the project team will identify the desired LEED credits by gathering the necessary information, performing calculations and analysis, and preparing documentation demonstrating compliance or achievement of the selected credits and prerequisites.

Once the application documentation is prepared, the application must be rigorously secured and verified before it is submitted for review. The Certification Review has an associated fee that must be paid at the time of submitting the documentation. 

Step 3. Review 

Once the application has been submitted and the certification review fee has been paid, the LEED application is thoroughly reviewed by Green Business Certification Inc (GBCI). We will get the result of the preliminary review in about 20-25 business days. They will tell us which prerequisites and credits are granted and which are marked as pending, asking us for more information if this is the case.

If you are satisfied with the results of the preliminary review, you can accept it. Conversely, if you are not satisfied, new or revised documentation can be prepared. Also, add extra credits before submitting for final review.  

Once GBCI completes the final review of your application, it can be accepted or appealed by requesting an additional supplemental review (appeal).

Step 4. Certificate

The last step but the most important is obtaining the final report and certification that your development is green and sustainable. 

References: 

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MEMORABLE SPOTS FOR PICS IN THE HISTORIC CENTER OF OAXACA

Friday, June 9th, 2023 

By Jessica Hernández

We know that the entire state of Oaxaca has beautiful places worthy of being captured not only with our eyes and in our minds but also in photographs. On this occasion, we present 5 spots in the center of the city that we recommend so that during your stay here you can take unique photos to share them on your social networks and surprise your followers, in addition to capturing the memory of your trip to this enigmatic city.

1.- Jardín Etnobótanico 

Located on Reforma Street, just behind the Temple of Santo Domingo, this is a space dedicated to the protection and exhibition of hundreds of endemic plants of the state. It began in 1998 with the planting of these and it is planned that in a very soon finish planting perennial species. There are in this garden plants from different ecosystems of the regions of the state, we can find species from arid, humid climates, tropical zones, cold and temperate mountainous areas, etc.

In addition of being in charge of the exhibition of so many species of plants, the Ethnobotanical Garden has also the task of of carrying out research on the care and propagation of this flora in order to continue its preservation in the state and in the country. 

Do not miss the opportunity to go and take a picture in one of its spaces like this👇 .

Picture by https://jardinoaxaca.mx/

2.- Barrio de Jalatlaco 

This is one of the most beautiful places in the historic center, in its colonial-style streets you will find facades with colorful murals that reflect the traditions and culture of the state. This neighborhood dates back to the 16th century, and it is precisely the houses, businesses, and churche that are found there that make those who visit it fall in love with it, and that definitely motivates you to take pictures in each of its corners and facades. This neighborhood is known for being beautifully decorated on special dates such as the Day of the Dead, Christmas, and others.

3.- Andador Turístico 

A must-see is undoubtedly the city’s tourist walkway, Macedonio Alcalá Street connects the heart of the city, the zócalo, with the Santo Domingo temple, another site also famous for its impressive view. Along this walkway you will find local handicraft shops, coffee, and many more products, like most of the streets in the center, the walkway is captivated by its colonial-style architecture. In this place, you can always see “calendas” of the weddings and/or baptisms celebrated, as well as the invitations prior to the Guelaguetza festival.

4.- Teatro Macedonio Alcalá

This theater built in 1909 in art nouveau style is considered one of the most important in the country, and no wonder, since its impressive French-influenced modernist architectural style provides an elegant and imposing view. Thousands of artistic shows have been presented there over the years. During your stay, do not hesitate to go to a play or show that is presented there and of course take a picture inside this elegant enclousure or outside, in fronto of its masterful façade.

5.- Museo de Filatelia 

This museum dedicated to the exhibition and collection of stamps from different parts of the world is ideal for a good photo session, you will love its huge cacti located in one of its patios. Also, if you are looking for a nice place to take photos of your pets, the MUFI is perfect, since it has the characteristic of being pet friendly.

It is difficult to list only 5 places because we know that there are in the city many corners and beautiful facades waiting to be captured by a lens. Don’t forget to also walk the streets of García Vigil, 5 de Mayo, and of course the city’s zócalo and share your photos using the hashtag #silmexico

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IMPORTANCE OF SUSTAINABLE DEVELOPMENT

Today, which is World Environment Day, we would like to talk about the importance of sustainable development in the real estate field to benefit the well-being of all living species on the planet and the natural resources it provides us. 

Population growth in Mexico and worldwide has led to greater demand for housing, which implies greater spending on water, energy, and natural resources, as well as the extension of urbanization in natural areas. It is no secret to anyone that the accelerated development of cities has led to immoderate consumption of resources, which has resulted in exceeding the estimated amount of resources that had been considered for a given period, in addition to the notable impact on the environment.

Given that the problem of contamination, the excessive use of resources, and the shortage of water is global in nature, it had to be given more attention by the governments of the countries, and this is how in 1982 it was established for the first time The term “sustainable development” in the document known as the “Brundtland Report” or “Our Common Future” presented by the former Norwegian Prime Minister, Gro Brundtland, within the World Commission on Environment and Development, created by the United Nations. Said document defines “sustainable development” as “…that which satisfies the needs of the present without compromising the needs of future generations” (UN).

From then until now, the countries have had the task of complying with the norms that are established in each summit or meeting concerning sustainable development. Mexico, for its part, has also participated in them, which is why programs and regulations have been created internally that seek to reduce climate change and promote sustainable development.

Until a few years ago, the housing trend in Mexico did not follow any sustainability protocol, however, more importance has now been given to it and this term has actually been applied to new real estate developments.

According to data from the North American Commission for Environmental Cooperation, buildings are responsible for 17% of total energy consumption, 5% of total water consumption, 25% of total electricity consumption, 20% of carbon dioxide emissions, and 20% of the waste generated.

These data give us an idea of ​​the great impact that buildings generate on the environment, which derives the importance of new buildings being developed following the parameters of sustainability.

Thus, according to the same standards established by the United Nations, certifications for sustainable buildings have been implemented, and there are different organizations that grant said certifications, their objective is to guarantee that the building in question is “green or sustainable”, which is defined as the use of environmentally friendly (environmentally advantageous or environmentally preferable) practices and materials in the planning, design, siting, construction, operation, and demolition of buildings. The term is applied both to the renovation and reconditioning of pre-existing buildings and to the construction of new buildings, whether residential or commercial, public or private (CCA, 2008, p.4).

 

The certifications add value to real estate developments, as they reflect their commitment to the environment and care about future generations’ well-being.

What are these certifications? How to get them? We will talk about it in a future article.

Written by LMI. Jessica Hernandez.

Bibliography: 

  • Comisión para la cooperación ambiental. (2008). Edificación Sustentable en América del Norte. Informe del Secretariado al Consejo conforme al artículo 13 del Acuerdo de Cooperación Ambiental de América del Norte. Montreal: Comisión para la Cooperación Ambiental. p.4, 22, 124-125.
  • Informe Bruntland . Documentación de las Naciones Unidas (s.f.). Recuperado el 5 de junio de 2023 de http://www.un.org/depts/dhl/spanish/resguids/specenvsp.htm 
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GASTRONOMY OF OAXACA; A MEXICAN DELICACY

Besides all the unique spots and landscapes Oaxaca has, this “Gastronomic Capital of Mexico” estate is a culinary treasure. 

The reason? House houses recipes for unique dishes in each of its cooks, in which different local foods are honored. 

Did you know that Oaxacan gastronomy was considered by UNESCO intangible cultural heritage of humanity? That’s right, and it is not for less. Oaxaca food is unique worldwide and meets the tastes of the most demanding palate. Proof of this is its 7 different moles, among the most representative we can find: black mole, prepared mostly in the Valles Centrales region; red, green, yellow, and coloradito. 

We can not leave behind the famous and delicious tlayuda, a big corn tortilla, with bean paste, exquisite quesillo, and of course its roast tasajo, cecina, or chorizo

A must-visit during your stay in Oaxaca is the 20 de Noviembre market, where you can lose yourself in its corridors, smells, flavors, and colors of the different dishes that are offered there. Likewise in its special corridor of roast meat, you can enjoy it accompanied by roast onions, guacamole, and tomato sauce. 

The empanadas and tamales without a doubt are worth mentioning, they can also be found in the baskets of the cooks selling in different places. 

Whether in the hot season or on a normal day, you can’t stop trying tejate either, the drink of the gods, which has its origins in prehispanic times. It is made from corn, cocoa, and the cocoa flower. Also do not forget to taste a glass of chilacayota, or a fresh horchata or hibiscus water. 

As if that was not enough, either in the traditional markets or on different streets you will find people selling the different variations of bread: pan amarillo, hojaldras, and the traditional regional sweets.

Perhaps you have already heard about the pan de muerto, it is mainly made in Tlacolula de Matamoros, a small town close to the city. This bread is precisely called that way due to the celebration of the Day of the Dead, this bread is accompanied by delicious hot chocolate. 

if you are more of those who like exotic dishes, then the chapulines (grasshoppers) are perfect for you, you can taste them in a taco with quesillo, avocado, and some lemon drops, or you can also try them already transformed in a delicate sauce. ¿

Finally, surely you have already tried mezcal, an ethylic drink obtained from the maguey, one of the greatest references of Oaxacan culture without a doubt, it is precisely the town of Matatlán that is recognized as the world capital of mezcal.

Our state’s geographical and climatic conditions allow it to have a vast variety of ingredients, from vegetables and fruits harvested in each of its regions and insects typical of the region, thus creating unique flavors, which are revered to this day, preserving the culinary legacy of our ancestors.

Written by Jessica Hernández. 

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WHY IS THE GUELAGUETZA SO IMPORTANT IN OAXACA?

July means one thing for people from Oaxaca and tourists, Guelaguetza. It is the most outstanding multicultural representation of the towns of Oaxaca. It is about a performance where different towns from all the state present at the auditorium their traditional dancings. 

Oaxaca is divided into 8 regions; Cañada, Costa, Itsmo, Sierra Sur, Sierra Norte, Mixteca, Papaloapan, and Valles Centrales, which are represented by its different towns at the Guelaguetza. 

Its roots are found in the ancient Zapotec and the offerings they made to the agricultural gods in gratitude for their crops. In 1932, the Guelaguetza was officially established as a racial tribute. That is why nowadays, we have every July, party full of dance, rejoicing, traditional gala clothes, food, and art expressions. 

The people from Oaxaca are proud of this unique festivity which is a cultural treasure, not only for them but for national and foreign tourists too. 

Picture by @roymendezmx

This representation shows the traditions of eight regions of Oaxaca, which is internationally recognized since every year people from all over the world come together to enjoy of this celebration. 

Its name is of prehispanic origin and it was taken from the “mutual aid” institutions of the natives of Oaxaca that had a great feeling of community. The term alludes to the Zapotec ideas of “cooperation and reciprocity”. In addition, it refers to the “courtesy gifts” that are exchanged between families in a community and have a deep sense of respect and collaboration. 

That is precisely what the Guelaguetza represents, the unity of the towns of the state, it highlights the idea that, even with the differences between each town and their contrasting cultural expressions, they all form part of the same entity, which is to be Oaxacan. 

Before the 2 days in which this festivity has place, parades or “convites” can be seen in the main streets of the historic center, they announce the big party, give people a taste of what they will see at the auditorium and invite them to join.

Given that Oaxaca is a state that depends a lot on tourism, it is important to mention the significance of the economic benefit that Guelaguetza leaves every year. Only in the period of July 22 to August 1, 2022, national and international tourists visited the entity to enjoy “el Lunes del Cerro”  festivities and the activities that framed the 90th anniversary of the Racial Tribute. 

The City of Oaxaca registered a hotel occupancy of 95% due to the arrival of 152,559 national and international visitors which generated an economic benefit of 463 million pesos. 

That is the importance of this party of the Verde Antequera, it reminds us of our indigenous roots, makes us feel proud of the land where we were born, and helps the economy of all the artisans and merchants, and the recognition of our culture in the world. 

Written by Jessica Hernández

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WHAT IS A TRUST FOR THE ACQUISITION OF PROPERTIES IN THE RESTRICTED ZONE IN MEXICO?

When a foreigner wants to acquire a Mexican property in the restricted zone, there are two mechanisms they can use.

First of all, it is necessary to clarify what the restricted zone is, well, according to the 27 Article of the Mexican Constitution, it is all the land located 100 kilometers from any national border and 50 kilometers from any ocean, so it means, properties on the coastal border. 

As mentioned above, there are two ways of acquiring these kinds of properties, the constitution of a Mexican corporation, and a trust.  

A Mexican corporation: as of 1995, foreigners can own, operate and manage Mexican companies, however, some restrictions remain on the activities in which a Mexican company can participate when foreigners are involved, such as mining, airports, and telecommunications; however the general rule is 100% participation. There are no investment restrictions on foreign-owned companies intended to purchase and develop the property. Mexican corporations require a minimum of two associates or shareholders. Both shareholders can be foreigners and it is not necessary to have a Mexican partner.

Now, let’s focus on the trust, it is about a three-part contract whereby the seller (the settlor) irrevocably transfers to a real estate bank (trustee) so that a third party (beneficiary) can use and enjoy such property. 

Under Mexican law, only an authorized Mexican banking institution can be a trustee. The bank acquires title to the real property and is obligated to allow the beneficiary to use and enjoy the property as he/ she sees fit (as long as the way in which he does so is legal). If the beneficiaries wish to rent the property to third parties, they can do so by obtaining the necessary authorizations. The beneficiaries also have the right to sell the property at any time to receive the proceeds from the sale. 

The bank cannot encumber or sell the property without the express written consent of the beneficiary.

It is important to mention that Mexican law requires that all real estate transactions be carried out by a notary public. The notary is obliged to register in his books the deed of transfer of title, have signed it by the parties involved, and registered it in the Public Registry of Property that corresponds to the location of the property. Once the deed of transfer of title has been signed in the presence of a notary public and registered with the Public Registry of  Property, the real estate transaction has complied with the requirements of Mexican law. 

At SILMÉXICO our specialized legal team is in charge of carrying out all the processes in the acquisition of properties in and out of the restricted area.  

Contact us and ask for our consultancy services at www.silmexicooaxaca.com 

Written by Jessica Hernández 

Real Estate Advisor.