Real Estate

real estate

A Real Estate Consultant is not a Tour Guide

When you begin to search for real estate in North America, generally you go to your computer and search the local Multiple Listing Service. Whether it is for curiousity, looking for comps or initiating research on a pending purchase, virtually all of the information can be found on the web. If the municipality is fully integrated you may be able to find tax records as well. In many foreign lands, ... »

debt crisis effect

How will the debt crisis affect Colombia ?

What are you waiting for ?      There is an old saying that only two things in life are certain, death and taxes. Actually that wasn’t always the case as my grandfather told me that the income tax in Canada was imposed during WWI to assist the war effort and the government promised that the tax was only to be temporary. Almost one hundred years later, that has to be the greatest lie perpetua... »

Apartment Collapses Medellin

Apartment Collapses in Medellin – Why you should work with a Real Estate Specialist

There is tragedy today as an apartment collapses in El Poblado, Medellin.  In the latter part of the evening of  Saturday October 12, 2013, the 6th tower of the Apartment Complex ”Space” crumbled to the ground.  Certainly our prayers go out to the people who lost their lives and to the families still waiting to see if their love ones lost in the rubble have managed to survive this terr... »

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... »

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... »