Real estate in six parts
By José de Jesús Malagón and Graeme Howard

San Miguel’s real estate community, energetic professionals who are important economic resources, can be discussed as six groups: brokerage firms, construction, legal services, financing, rental agents and the real estate media.

Brokerage firms

The 46 professional residential real estate brokerage firms employing 160 real estate agents (including owners) are eager to serve current and future buyers and sellers of houses, condos and lots. Twelve firms are members of the Asociación Mexicana de Profesionales Inmobiliarios (AMPI), which is affiliated with the National Association of Realtors (NAR) in the US. Arq. Salvador Moreno is president of the AMPI local chapter.

More than 50 residential real estate developments are in progress in San Miguel, with 22 active developments located inside the ring road and the rest outside, mainly on the roads to Dolores Hidalgo, Querétaro and Celaya. About a fifth of the developments are limited to the sale of lots, while most sell either finished houses/condos or lots upon which the developer will build a house. The local organization representing the interest of the developers is Alianza por San Miguel. The president is Eric Chazarro. Real estate developments are licensed by Desarrollo Urbano, the director of which is Ángel Gastelum. 



Construction

More than 200 architects are available to help those that have decided to build rather than buy. Architects are licensed by Secretaria de Educación Publica (SEP) through the Dirección General de Profesiones. Sixty-six architects are members of the Colegio de Arquitectos (the local professional association of architects), the president of which is Arq. Olga A. Hernández Flores.

Many architects also act as builders, and dozens of local construction firms and many maestros (building superintendents) are willing to build from architectural plans. At any one time, the residential builders in town employ thousands of workers, which is one of the main sources of local employment.



Legal services

The 13 Notarios in San Miguel are the only persons empowered to transfer title of real property in Mexico, making them the key professionals in the settlement of a real estate transaction. Notarios are lawyers with advanced standing who are appointed by each state. Notarios search title, prepare deeds, hold closings, collect taxes on capital gains and record the transaction in the Public Registry. Notarios in San Miguel are licensed by the Dirección General de Registros Públicos y Notarías del Estado de Guanajuato. The national professional organization of Notarios is La Asociación Nacional del Notariado Mexicano; the state chapter is Colegio Estatal de Notarios del Estado de Guanajuato; and the local chapter is Colegio de Notarios de San Miguel de Allende, the president of which is Maria de la Luz Martinez Arroyo.

Over 300 lawyers (abogados) in San Miguel are available to represent buyers or sellers in residential real estate transactions. The local bar association is the Colegio de Abogados, the president of which is Miguel Ángel Chagollan Silva. Lawyers are licensed by SEP through the Dirección General de Profesiones.

The San Miguel Public Registry (Registro Publico de la Propiedad y del Comercio de San Miguel de Allende), located at Plaza Real del Conde local BB13, is the office where real estate transactions are registered. The office is open Monday–Friday, 8:30am–4pm. Diana Berenice Guapo Mendoza is the director.



Financing

Commercial banks will make construction and permanent mortgage loans to residential real estate buyers according to the specific criteria of each bank. A dozen local offices of regional, national and international banks are ready to serve borrowers in San Miguel.

Several currency exchange firms (Casas de Cambios) have offices in San Miguel, some at multiple locations. These firms will provide exchange services for buyers needing to pay for their residences.

Banks, currency exchange firms and credit unions are regulated by the Comisión Nacional Bancaria y de Valores, which reports to La Secretaría de Hacienda y Crédito Público.



Rental agents

Professional rental agents in San Miguel can help visitors wishing to rent a home until they either find one to buy, as a residence during the construction process, or as a long-term renter. Three of the agencies have banded together to form the San Miguel Rental Association. Other independent agencies also are available.



Real estate media

Print and web publishers provide ready information on the San Miguel real estate community. Atención San Miguel is the primary print source and many web sources can be found on search engines.

The city’s real estate community is a vibrant group of entrepreneurs and professionals who are leaders in the continued economic progress of San Miguel de Allende.

José de Jesús Malagón and Graeme Howard are principals of San Miguel Advisors, which counsels prospective buyers of residential real estate.