A reservation should not be a leap of faith
A reservation holds an opportunity while the transaction is formalized, but it must be documented. Clarity protects both buyer and seller.
Before transferring money, check that the document states which lot is reserved, for how long, at what price and under which conditions the amount is applied or refunded.
Reasonable minimums
- Identification of the parties and contact details.
- Lot description: development, block, number, dimensions and price.
- Reservation amount, payment method, validity and conditions.
- Next step: contract, down payment, signature or file review.
A trust signal
A serious process leaves receipts and avoids ambiguous phrases. If there is a promotion, discount or special condition, it should also be written down.
Identify the parties and the lot unambiguously
The receipt or reservation agreement should include full names, contact details and the capacity in which the person receiving payment acts. Identify the lot by development, block, number, area, dimensions or referenced plan and agreed price. Compare those details with the documents shown and keep a copy. A sales code alone does not establish ownership. If a representative signs, request documentary evidence and an explanation of their authority to complete the transaction.
Document how the reservation payment will be used
State the amount, payment method, date, validity period and when it will be credited toward the down payment or price. The document should explain what happens if the transaction does not proceed, the conditions for a refund, any retention and the next agreement to be signed. Include promotions, discounts and promised dates; verbal terms are difficult to prove. Read the entire document before transferring funds and avoid paying an account not identified in the file without a verifiable explanation.
Review the file before the next payment
Use the reservation period to request the ownership background, public-record information, cadastral details, plan, applicable ownership regime and utility conditions. Maintain a received, pending and responsible-person list. If inconsistencies appear, pause until they are clarified in writing. Profeco model contracts help identify relevant information but do not replace a notary or qualified professional reviewing a particular transaction. Keep the bank confirmation and signed receipt together in the same file.
Official sources to verify
- Profeco: model contract for a residential land purchase — Official model useful for identifying the details, costs, restrictions and obligations that should be documented.
- Durango Public Registry of Property — Official portal for lien certificates and property-record searches.
- Durango State Government: cadastral registration — Official information on property registration and assignment of a cadastral identifier.
