Colombia Real Estate FeesTerms and Conditions of My Services |
In Colombia real estate fees and commission for real estate transactions are as follows:
3% for housing ( apartments, houses, urban lots, lofts) upon final value of the deal.
5% for commercial property ( Warehouses, commercial stores, farms, plots of land, rural land) upon final value of the deal.
Who pays the commission?
According to Colombian business custom, unless otherwise
agreed
differently, real estate fees should be paid by the SELLER
or the property owner.
Bear in mind that the value of commission rates are almost half compared with
those in the United States or Europe.
When someone doesn’t want to pay for real estate fees, simply
makes the deal by his own. However, if you as a seller or
buyer
want to deal directly, keep in mind all the risks involved.
Just to mention an example.
A
lady came to me after realizing that the house she has bought 10 years
back, was registered in someone else’s name. This happened
because when making the record, not verified the certificate issued by
the registry office, and they had a bad finger in the identification
document. She only realized at the time of wanting to transfer
ownership to one of his sons. Fortunately, the mistake could settle in
8 months. In other cases it may take years of legal battles.
Unfortunately, in Colombia there is no strict regulation on the
real estate profession .
Anyone can create a real estate agency
by selling his/her own house. That’s why I’ve found
really
bad comments at some forums from foreign people who had deal with no
professional persons who give a completely bad image to the business
and in the worst case scenario turn out to be scammers.
When searching for advice on buying and selling real estate, always
consider using experienced
professionals and/or companies to
avoid headaches and costly mistakes $$$ in the future.
More than a real estate agent I am a real estate consultant.
I connect
buyers with sellers and put my knowledge and experience to complete the
purchase process and everything that it implies in the legal,
commercial and taxation matters. My value-added
and experience is everything that you can read in my
website.
I try to be as clear and transparent in providing information. My
detailed personal information is also exposed. Then my reputation and integrity
are at stake. I don’t work just take advantage of the moment.
My
philosophy is to create a long-term
relationship with my clients. For
me the most important thing is to work honestly and I demand the same
of my clients. That is the best legacy that I can leave to my children.
Then if you decide to work with me, you can trust you have chosen
wisely. My work ethic is always the same, regardless of the party I'm
representing. My job as a consultant goes beyond the payment of some
commissions. That’s why I consider my remuneration as professional fees
more than a commission rate.
TERMS AND CONDITIONS OF MY SERVICES
1.-As Buyer'srepresentative.
2.-AsSeller'srepresentative.
3.-As Intermediarybetween Buyer and Seller
4.-As Consultantin real estate issues
1. As Buyer's Representative
When you as a buyer submit a request searching a property with some special characteristics, my role is to find the property that best suits your finances, family needs and requirements.Likewise assist you throughout the purchase process from the promise of purchase agreement to the signing of the final deed. My commitment is with the buyer and the ultimate goal is to get the type of property requested under the better terms for the buyer.
My job as Representative of BUYERS includes the following services:
- Support at the negotiation stage
- Advised during the elaboration of the promise of purchase agreement document, and guidance on the inclusion of right clauses according to what has been agreed.
- Title record study and property ownership verification
- Up throughout the collection and processing of documents during the purchase process.
- Organization and monitoring the financial part of your investment.
- Interpretation and translation of documents involved in the deal.
- Legal assistance on the terms and conditions of the transaction.
- Legal representation in Colombia (if desired) through special power of attoreney to act in your behalf if you can’t be here to signing buying documents (Sales agreement and subsequent deed).
- Personal and continuous communication through email or by telephone, on the development aspects of the negotiation.
- My professional assistance about properties that fit your needs. Note that this is a professional and not a personal opinion. Buying a house or apartment is a very personal decision. What I recommend may not necessarily like you and vice versa. You are the one who will make the final decision.
- Experience and knowledge
of local market. Access to information sources about the
local market exclusive only for professionals.
I believe that a documented and informed decision turns into a long lasting and fruitful relationship with my clients.
Real Estate Fees
You as a Buyer won’t assume any additional costs, since the value of the commission will be included in the final sale price.
However, if you decide to use my services as your buyer representative, I specifically will ask you to comply strictly with this three conditions:
• Exclusiveness. In this way we make a formal commitment between both parts. Requesting for this service, I know that you are a serious buyer and you are not going to make me waste my time and efforts in the search.
• Seriousness. If you are not sure yet about what you want to buy, take your time to analyze your decision. Once you confirm by email your request, I assume that you are really going to buy a property.
• Honesty. Taking into consideration that in some cases I work with professional partners with whom I have referral agreements, once you have chosen the property that is right for you, I’ll just ask you to bear in mind that this has been possible thanks to our contact through BuyColombiaRealty.com, and you are aware that a clause will be included in the promise of purchase agreement document, stating the value and the way of payment for the total percentage of commission.
To provide you more efficiently my real estate services, please fill in also our Search of Colombia Property Form , giving us the most accurate information you can provide about property preferences.
Include in the general comments any other specific information not included in the form. In this way my results will be more effective. Once you can come to Colombia, you don’t waste your time watching properties that do not fulfil your expectations.
We will handle the search throughout our Colombia Realtors Network, ,and our Colombia Properties Listing.
2. As Seller's Representative
You as an owner, besides of Publishing your property on our website, you can use my services to act as your real estate agent for the sale.Also builders and developers can use our services to market their projects in Colombia on the international market.
In this case our commitment is with the seller, and our job is to sell the property under the conditions set by the seller.
Choosing me as your agent for the sale has the following advantages:
Exhibition
of your property on the website with higher growth in marketing
properties Colombian abroad. .
Our added value to sellers is the pre-qualification that our website
makes of potential buyers, saving them time in their search, giving
them all the information about the properties we offer. People
contacted us because they really want to buy a property in Colombia.
A bilingual real estate
agent in Colombia to assist you in the sale, whether you
live in Colombia or abroad. Click here to learn about my professional
experience.Real estate Fees
If the sale is conducted through BuyColombiaRealty.com Real estate fees will be the normal commercial rates for real estate transactions in Colombia.
To sell your properties or projects in BuyColombiaRealty.com Choose any of our Online Publishing plans and start to expose your properties in the international market.
3. As Intermediary Between Buyer And Seller.
As an intermediary between buyers and sellers. In some cases before starting a negotiation, either at the request of the buyer or seller, they could need someone who can act neutrally helping to take the business in place.When this happens, there must be an agreement between the buyer and seller, to appoint a third party acting as an intermediary.
Once approved by the parties, my job as an intermediary is to act as an information channel of wishes of buyer and seller, helping to negotiate a satisfactory price for both parties, and give my professional concepts on any problems that may arise concerning the sales process, certification of ownership, negotiating terms, legal procedures, etc.
Real estate Fees
In this case the commission is shared between buyer and seller, in proportion 50-50, and must be previously agreed between the parties.
Do you want me to represent you as Intermediary? Send me an email with your request
| PAYMENT
WAY Real estate fees will be paid: 50% to the signing of the Promise of purchase agreement and 50% at the signing of the deed. The way and terms of payment of commissions, are set out in the promise of purchase agreement, which is signed by all parties, seller, buyer and real estate agent involved in the sale. Payment will be made in cash or by Colombian bank management check. |
4. Real Estate Consulting for Individual Cases
If you already have chosen to buy a propertyand hasadvanced negotiations either directly with the seller or another agent,but has doubts about the legality of the property, the terms andconditions of the negotiation or you want advice in any stage of thebuying process, I can help to resolve your concerns through apersonalized consultancy by telephone, or via email on your specificrequest.
Send me an email with your request for advice alongwith the files or scanneddocuments of the case.
The fees will be agreed depending on the complexity of the consultancy.
The Value Of The Word
Our grand parents used to make deals just with a shake of hands. They used to respect and believe in every word they committed to when making a deal, and that was worth more than any legal document.For me the "value of the word" is also important. Sounds like ingenuous and old fashion these days, but that’s the way I was raised.
Not only Colombians try to find the way to scam other people. Non-ethical people can be found all over the world.
That’s why It could happen that for any reason a Buyer and Seller that have been introduced by BuyColombiaRealty.com site, agree to make a deal between themselves in order to avoid paying our legally entitled commission. Even though there are several legal procedures to block the sale, or delay the signing of the deed in order to comply with agreed (and it’s our choice to opt for them), our penalty is more simple as effective.
Internet is becoming less an anonymous source. Social networking like facebook, Xing, and a lot of other important sites gives opportunity for people to be known.
So without exception, we will make sure to let every one know through the net and in all related business forums, the dishonest way this kind of people use to make businesses.
And obviously they will not be able to do businesses with us never again. They are the ones who lose in the long run. It’s not nice to talk about these things, but we’re living in a REAL world and not in a VIRTUAL world.
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