How to Pay your real estate property in Colombia .

Which is the best way to pay? Well it depends of each individual.

In any case you CAN BRING MONEY TO COLOMBIA AND TAKE IT OUT if you want. But do it properly since the first time.

You have these alternatives:

1.-Commercial real estate loans

Interest rates are low in your home countries. So, Why don't you take that in your favor?

Some bank are promoting credit loans for Colombians non-residents. The reason is because there are a lot of Colombians living abroad, that sends back what they earn to their relatives here. So banks want to take a piece of this cake.

My experience with this type of credit has not been so good because all the paperwork people have to do at the foreign country. But anyway is another good option for a Colombian non-resident.

So what about you, the Foreigner?.

In most developed countries, interest rates are at an all time low. Many people with limited funds are taking advantage of low interest rates by borrowing against the built up equity they may have in their homes. Home Equity Loans are being offered at rates of 7% and less.

So why complicate yourself. Do it simple. Get a loan in your home country . If you have the capacity to repay these loans, even if you loose your job, or have a major illness, this can be a great way to use your net worth by investing in bargain priced property in prime Colombian locations, right?

2.- International Money Transfer
You can wired the funds from your personal bank. Be sure to register properly in Colombia. Click in the link to see more information.

3.- Mortgage Loans
Mortgage loans are only for colombian citizens. But if you have a relative or a close friend, this could be an alternative.

Currently the mortgage loan rate for real estate in Colombia is between 20-25% annually. This type of loans are short term, usually 5 to 15 years, and are made primarily given to Colombian nationals. In most of the cases there is no Seller financing.

If you want to use or know about any other payment method, Please, Send me your comments.

Don't forget always make it simple and legal.

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