• Nik Valcic

What is AMPI?



AMPI is the national association of real estate professionals that have, since 1956, gathered under laws and codes of ethics and conduct to create a reliable, trustworthy, and efficient real estate environment in Mexico.


The Puerto Vallarta chapter of AMPI is dedicated to promoting best practices in real estate by providing its members with education to reinforce the standards of ethics that give our industry the credibility that our clients deserve. Real estate brokerages in Mexico that belong to AMPI are required to ensure that all of their agents maintain good standing within the organization. This includes governance over ethical behavior, as well as maintaining the minimum annual continuing education credits.


What is the MLS in Vallarta and Nayarit

MLS Vallarta & Nayarit is our local Multiple Listing Service (MLS) that was founded by AMPI and has been operating in the Vallarta/Nayarit region in Mexico since 1988. It assists prospective homebuyers by familiarizing them with properties for sale with standardized descriptions, photographs, and maps. Additionally, AMPI reviews and verifies all the legal information regarding each listing. In particular, checking the deed, the rightful owner, ensures there is legal permission to sell that particular property, etc. It also provides a database of listings from more than 60 local AMPI-affiliated real estate offices and numerous new real estate developments currently available on the market.


MLS Vallarta is not involved in the real estate business directly but works as an intermediary to help bring people who are looking at real estate in the Vallarta/Nayarit region, together with the agents, agencies, and developments that hold exclusive listings agreements in the region.



How Does AMPI Vet a Pre-Construction?

Buying a pre-construction can seem risky. However, thanks to AMPI, pre-construction sales in Puerto Vallarta and the Riviera Nayarit are a lot more stable. This is because AMPI takes strict measures and has established a formal protocol for registering pre-construction listings in the MLS. If a developer can comply with all AMPI’s rules and requirements, this can give the buyer a lot of extra confidence that the pre-construction is legitimate and regulated.


Pre-construction that wish to participate in the MLS must be entered into the MLS database under the appropriate property type in accordance with the following:


A. The lot owner has executed a listing agreement with an MLS Participant for the sale of the lot.

  • If the lot owner is not the builder, there must be a contractual agreement in place between the lot owner and a builder that grants the builder a financial interest in the lot.

  • If there is no contractual agreement in place between the lot owner and the builder, the listing does not qualify for MLS

B. Listings under a Blanket or Master Agreement with the listing firm shall include an exhibit or addendum of the lots to be included under such agreement and identified accordingly (either by lot number, address, or property ID number, if known.)


If all lots under a Blanket or Master Agreement will not be entered into the MLS within three (3) days of the ratification of the listing agreement, the Agreement should be submitted to MLS as an Office Exclusive, as set forth in Section 5.9 of these Rules.


C. The list price includes the price of the lot and the residential structure to be built.


D. Within seven (7) days of a ratified Purchase Agreement, the Pre-Construction/New Construction shall be entered into the MLS.


Pre-Sale/New Construction entries may use the ratification date on the Purchase Agreement as the List Date. Listing information, including list price, may be changed up until the listing is closed in the MLS.


E. The developer must be able to demonstrate the financial capability to complete construction.


 

Interested in moving to Puerto Vallarta, Mexico? Let us show you how easy it is to own and invest in real estate in Mexico. Contact us. Selling your home? Click here to find out how much your home is worth.



www.YourPVRealtors.com



11 views0 comments