REAL ESTATE DEVELOPMENT IN OAXACA Archives

Monday, August 28, 2023, By Julio Velázquez, Lawyer in SILMÉXICO

When we think about buying or selling a property, we generally focus on some elements such as the price, delivery date, date of signing of deeds, etc. For this reason, we omit to analyze the background of the process that will result in a successful operation, such as the passage of due diligence or due diligence, however, what do we mean when we talk about this topic in the world of Real Estate?

The process of buying and selling properties is made up of various stages, one of them, and perhaps the crucial and important stage is due diligence, in which the property information must be analyzed to provide suitable legal certainty for the celebration of said operation.

Therefore, a legal team of specialists in real estate consulting must objectively and in detail analyze all the documents that make up the transaction file, this analysis must result in a favorable opinion to later give the green light, this in order to provide security and legal certainty to the purchaser or seller of the property.

TIME OF THE DUE DILIGENCE

Once the initial document is signed, the due diligence time varies; everything will depend on the negotiation of the parties or the conditions in which the operation is carried out, although the final opinion must be given by the expert adviser who is studying the operation, since, due to his/ her experience, he/ she will be able to assess the time that is performed documentation inspection thoroughly.

Normally an average term is from 10 to 30 business days, in the most delicate operations; either because a large amount of resources is handled or due to a condition that greatly compromises the same parties involved, the due diligence period could exceed the time contemplated; This is so that, in case it is required, process or obtain a missing document or an indication that conditions between the parties have the window of time.

ELEMENTS TO VERIFY IN THE DUE DILIGENCE

Once we have identified the average terms of analysis and study, it is time to know what are the elements that are studied in this due diligence.

In each operation, the parties must have a checklist on which they rely to request information on the property, the owner, and the legal status, among others. Normally the most important elements are made up of:

Public deed.
Registration of the deed before the RPP (Public Property Registry).
Identity and quality of the seller, which is detailed in the public deed or power of attorney (as well as the corresponding record of power).
Compliance with tax obligations, that is, payment of taxes.
The property has basic services, such as electricity and water.

However, these points and the checklist will depend on each operation, since they are all different.

At SILMÉXICO there is a strong and consolidated legal team of specialists in real estate consulting that will be able to help review each of your operations in detail, making you feel comfortable and legally secure.

Wednesday, August 23, 2023, By Jessica Hernández, Real Estate Advisor & Marketing Analyst in SILMÉXICO

A real estate development is the one in which the construction of a property is executed, in which different figures play important roles and are key to its proper development. Here we tell you who they are:

Project Manager

The project manager will be in charge of carrying out the planning and control so that all the steps of the execution of a project are carried out correctly. In other words, project management applied to this field includes all actions aimed at coordinating the work of the team to achieve the objectives of any construction project. Usually, the functions of the project manager include the initiation, planning, execution, monitoring, and control of construction projects.

The functions of a project manager in construction are among others:

– Decision making.

– Economic feasibility studies.

– financial planning.

– Establishing the design.

– The cost configuration.

– The cost-design relationship.

– Value engineering or economic analysis of alternative technical designs.

– Buildability analysis.

– Contracting through preparation, selection, and contracting of proposals.

– Construction management or management, that is, time and investment programming.

Construction manager

Unlike the Project Manager, who occasionally visits the site, but is not there full time, the Site Manager is on site. He works in coordination with the project manager, and his duties include supervision and management of construction projects from conception to completion. In-depth project review to schedule deliveries and calculate costs. Supervision of all on-site and remote works to control compliance with construction and safety regulations.

General contractor

A general contractor is tasked with completing the construction process within the specified time frame. General contractors must also work with different interested parties, as well as the hiring and coordinate of all the personnel involved in the work, and suppliers of the different materials to be used, operating within the budget and supervising the entire construction project. The role of the contractor is essential from the preconstruction phase since it is in charge of receiving, analyzing, and landing all the information generated by the architects and calculating engineers, to fit it into a price and time frame.

Safety Manager

A construction site is a place where accidents and risks are the order of the day, these can occur due to human errors, or due to machines that do not function properly. Objects placed in the wrong position, a distraction, or just not wearing the right clothing (special boots, helmets, gloves, etc.), can be the cause of insignificant accidents, even those that involve hospitalization for long periods. Precisely to avoid these situations, it is necessary to have a safety manager on site, who will be in charge of monitoring that each one of the workers is safe during their workday. The security manager’s task is to apply the corresponding preventive measures at each stage of construction, identifying possible risks and carrying out corrective actions according to their previously established management plan. These actions will not only avoid fatalities but also prevent fines and sanctions from construction regulatory agencies in the state and country that may even result in the definitive suspension of the work on the project.

Facility Manager

Among the functions of the facilities manager we can find: planning and coordination of all installations and retrofits, management of the maintenance of equipment and supplies to meet health and safety standards.

Administration Manager

The one who will be in charge of seeing everything related to the monetary flows of the work. As its name indicates, it will manage the money destined for the execution of the work and, likewise, will coordinate the necessary purchases of the material. In short, it is the person who controls the budget and ensures that it is respected.

It is clear that there are more people involved who are equally important for the precise construction of the project, which is why it is necessary to establish roles and select the appropriate personnel for each function. Plumbers, masons, painters, topographers, welders, architects, engineers, etc., all form an essential part of a construction.

Currently, SILMÉXICO is in the process of construction on the coast of Oaxaca in different projects, where the processes are being meticulously carried out and all construction regulations are being applied, always with the indicated personnel, such as our team of engineers. and architects that make up the construction area.

Interested in our construction services in SILMÉXICO? Contact our advisors at info@silmexico.com, call to 951 127 1380, or visit any of our offices in Oaxaca City and Huatulco.

Etiqueta: REAL ESTATE DEVELOPMENT IN OAXACA

WHAT IS THE DUE DILIGENCE IN REAL ESTATE?