What is an Infonavit appraisal?
It is an appraisal that is used to obtain housing credits before these institutions, allows to know the value of the property that will be acquired and is prepared according to the regulations established by the mortgage company.
The appraisal is a necessary document to process credits, buy and sell properties, as well as to make decisions when buying the most convenient home in terms of location, quality and price.
Who performs the Infonavit appraisals?
They are carried out by a person specialized in the valuation area. Besides:
- The valuation units registered by the Federal Mortgage Society, with an agreement with INFONAVIT to guarantee the quality of the service.
- Professional appraisal expert who has current registration with the Federal Mortgage Company.
What is an Infonavit credit appraisal for?
The appraisals before Infonavit are used to grant housing loans before Infonavit, it allows to know the value of the property that will be acquired and is prepared according to the regulations established by the mortgage company, this appraisal is prepared by a certified appraiser, with registration and authorization from the federal mortgage company to be valid.
This type of appraisal helps workers to make viable their right to have a patrimony and to be able to be sure that they will have a home that is in good condition.
What characteristics must the property have for the Infonavit credit to be valid?
According to the Infonavit guidelines, to grant the credits, you must have the following requirements:
- Be for exclusive residential use.
- Have basic services (drinking water, drainage, paving and electricity).
- Have a remaining useful life of at least 30 years.
- Being located in an urbanized area.
- Have a kitchen.
- Be from a profitable unit.
- Be registered in the Public Registry of Property.
What process takes place during the property inspection?
It is very important that the appraiser visit the property so that he can take the photographs, the architectural survey, verify the physical conditions of the property, take data on the construction system and finishes. Having all this information in the field is how it becomes possible to complete the appraisal.
How are Infonavit Appraisals made?
Procedure to carry out the appraisal of a used or new home not registered in packages or to make the mortgage payment to another financial entity
1.- The Valuation Unit obtains from the beneficiary the domicile, the measures with which the house has and what adjoining there are, information found in the deed.
2.- The Valuation Unit receives the request from the beneficiary to carry out the appraisal and technical opinion of the home.
3.- The application is captured in the Electronic Appraisal System, by the Appraisal Unit, this is done in the Individual Open Market module and must contain the data of the seller, buyer and home, of this is obtained the appraisal certificate.
4.- The appraisal certificate is made according to the administrative criteria established by Infonavit and it records whether the home is recently built or has been in use.
5.- The payment of the appraisal request and the technical opinion is made directly at the Appraisal Unit.
What does the appraisal contain?
The appraisal contains the data of the property and its location, dimensions, surfaces, construction characteristics, finishes, spaces that it has, commercial value, useful life, photographic report, architectural plan, among others.
What is a technical quality opinion?
This document identifies the physical conditions of the property that may put it at risk, the availability of basic public services and the maintenance conditions. It is used to know if the property is approved or not approved to know if it is suitable for the INFONAVIT credit, the minimum qualification of the property is 70 points. This document is filled out by the professional appraiser.
What would be the cost of the Infonavit appraisal?
The cost of the appraisal varies and is calculated based on the square meters of construction, or the value of the home. In addition, there is a price tabulator within Infonavit that serves as a reference for appraisals; however, the price is determined by the Appraisal Unit with the applicant.
How long is the Infonavit appraisal valid?
The validity of an Infonavit appraisal is 6 months from the date the appraisal is made. If the document is expired, you must request a new appraisal.
What are the requirements for the Infonavit appraisal request?
Documentation* is required that certifies the authenticity of the property throughout the appraisal process, such as:
- Deed (Condominium, co-ownership, private)
- Property title
- Certificate of Freedom or Absence of Lien
- Water bill and property bill (updated and without debit)
- Official identification of the applicant and owner
- RFC or CURP of the applicant and owner
- Application form for appraisal and technical quality opinion (can be downloaded from the Infonavit portal)
What does the appraisal include?
Determination of real estate value
They may vary depending on the type of appraisal.
Download your Infonavit Appraisal application Click here