In much of CDMX thousands of signs and advertisements with logos of Infonavit, Conavi and other housing organizations are visible, offering services to buy a house or get the savings balance of the housing account, which are mostly false. .

To protect against fraud when purchasing a home, the Ministry of Economy (SE) and the Institute of the National Workers' Housing Fund (Infonavit) announced the implementation of the Official Mexican Standard NOM-247-SE-2021 that regulates commercial practices, advertising, and the elements that must contain the contracts related to the sale of a property destined for a home.

The new rule, published in the Official Gazette of the Federation (DOF), will seek to guarantee the protection of consumer rights before real estate companies, construction companies, financial institutions, promoters and other market players.

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NOM-247-SE-2021 establishes that suppliers are required to inform and respect the prices, rates, guarantees, qualities, measurements, materials, finishes, insurance, interest, charges, terms, form and conditions of payment, deadlines, dates and other conditions applicable in the commercialization for the delivery of real estate.

In terms of advertising, the document states that it must favor transparency at all times through truthful, verifiable, clear information and free of elements that mislead or confuse the consumer for misleading or abusive, in accordance with what is stated in the Law. Federal Consumer Protection.

The rule is applicable to natural or legal persons who intervene directly or indirectly in the advice and sale of housing -fractionators, developers and promoters of real estate, notaries, among others-, to promote best practices and transparency.

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On the conditions of real estate, NOM 247 calls for facilities and conditions necessary for the provision of basic services, such as electricity, provision of drinking water and sewage disposal, use of LP gas, natural gas, electricity, cooking technology and food to be considered within the sale price of the home.

In addition, it establishes obligations for advances, down payments, bonuses and the use of the brands of Infonavit, FOVISSSTE or other public housing agencies so that unauthorized third parties, such as 'coyotes', do not profit from them.

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Original note