Real Estate Investing

Real Estate Closing Costs

Real Estate Closing in Colombia – Questions and Costs

If you are planning to buy or sell a property then you should make yourself aware of what the approximate costs of a real estate closing in Colombia will be. Above your attorney fees you will have your notary costs, adjustments of condo fees, taxes and utilities. Lawyer’s fees may vary widely. As anywhere else, cheap is not the best. A more thorough attorney normally will charge accordingly.... »

Closing - escritura

Real Estate Closing in Colombia – Part 4

Real Estate Closing in Colombia – Part 4 – The Final Steps Depending on your circumstances as to whether or not you needed a promesa, here are the final steps needed to close your real estate deal. To complete the deal the seller must now provide a ”Paz y Salvo” – basically a statement of paid in full, from the administration of the home owner’s association, if ... »

Promesa

Real Estate Closing in Colombia – Part 3

Real Estate Closing in Colombia – Part 3 -  Promesa de Compraventa Once you have a clean title search in hand, you can begin the next steps to your closing. In Part 2 we mentioned that it is possible to skip the promesa/promise stage. This would mean that the property was empty and you had your money in place to seal the deal. You don’t want to leave a deal too long in Colombia without... »

Colombia Title

Real Estate Closing in Colombia – Part 2

Documents needed to prepare for a Real Estate Closing in Colombia The first step to closing is your verbal offer. This includes the price, the date of the promesa de compraventa – the promise to buy/sell and the date of the formal closing. Something else that is important to note is what is included in the price. In Colombia, light fixtures and curtains are not usually part of the deal. An o... »

Real Estate in Colombia

Real Estate in Colombia

  Unlike some Latin American countries, foreigners can own real estate in Colombia.  Anyone coming to this country can purchase property and register it with their passport. There is no need to worry about this type of transaction as Colombia stands out among all of the Latin American countries with the best records for protection of foreign investments.   The internet is rife with stori... »

Mortgages in Colombia

Mortgages in Colombia

A common question we hear is, can foreigners obtain mortgages in Colombia ?  Generally the answer is no. It does not matter whether you are a wealthy pirate or you have a triple A credit rating in your home country, the answer is still no. Colombia, like most countries requires you to generate a credit rating before you can you be considered for any kind of loan. In this case you have to ask yours... »

Property Owner's Rights

Property Owners’ Rights – Know them !

Unlike some other Latin American countries, you can own property in Colombia. As a property owner, you are afforded the same rights as a Colombian citizen. All you need is a passport to purchase real estate here. Colombia leads Latin America in its protection of the property owners’ rights for foreign investors and the purchase of a property is a safe investment. If you are buying in a condo... »

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