03 / 23 / 22
Publication of NOM-247-SE-2021: practices and requirements for commercial information and advertising of housing real estate.
MEXICO CITY, MEXICO, March 28rd, 2022 – The NOM-247-SE-2021 (the “NOM”1) was released on March 22nd, 2022, and will become effective 180 calendar days after its publication. The NOM´s purpose is to guaranty the sale of housing real estate, as well as the agreements relating to such sales, comply with information requirements and other elements for the consumer’s protection.
This NOM does not repeal or replace the provisions set forth in the Federal Consumer Protection Law (the “Federal Consumer Protection Law”).
This NOM is applicable for the developers, builders, brokers, and other individuals involved in the advice and sale to the public of real estate for residential purposes (the “Provider or Providers”).
This NOM seeks to regulate the concepts established in the Consumer Protection Law and to consider the provisions of other regulations on standardization, social housing, urban development, civil protection and personal data protection applicable to those individuals who acquire real estate for housing purposes (the “Consumers”).
The following is a list of some of the subjects mentioned in the NOM:
- Mechanisms to deal with complaints and requests.
- Mechanisms regarding privacy and protection of personal data.
- Regulation related with prepayments and deposits.
- Regulation related with pre- sales.
- Regulation associated with the non-negotiated agreements requirements.
The aforementioned shall also apply to the Providers that commercializes land.
The Ministry of Economy, through the General Direction of Norms and PROFECO oversees the compliance with this NOM.
The Providers may voluntarily evidence compliance with the NOM, without prejudice and the competent authority’s verification rights.
It is important to consider the new provisions adopted by the NOM since compliance with the regulations for Providers has increased.
Providers shall analyze the effects with non-compliance with the NOM, since the penalties of such breach set forth in the Federal Consumer Protection Law, establishes fines ranging from $617.41 to $2’414,759.14 Mexican pesos. The Federal Consumer Protection Law establishes that the recurrence of violations (when the same offender incurs in two or more violations of the same legal provision during a year, counted as from the day in which the first violation was committed) gives rise to the suspension or cancellation of the Provider’s operations.
If you have any questions regarding these Guidelines, please contact our experts.