Home Buying process in COLOMBIA

First time home buying 10 steps. How to buy Real estate in Colombia

It is not easy to buy your first home, not even if it is a home abroad. However following this simple steps will give you an in-depth look at the home buying process in Colombia, and convert the buying of your property in a pleasant experience as you venture through it the first time. 

Let's get into matter.

I classified the process for buying a homeon Colombia in these 10 steps. They seem to be quite a lot to do, but you will find that is an easy process:

Choose the place

Do you know enough information about the city you are planning to live or move? Search about the local real estate market you are planning to buy. Get as much information as you can during your home buying. You can check in this site a general overview of the best Colombian hot spots. 

Choose the project.

When buying a home make a wish list of the type of property you want. Are you looking for new properties? old ones, FSBO? See what are the differents types of Colombian properties in offer and make your choice. As an independent real estate agent, I can help you to find the place according to your needs. So take a few minutes to tell me in the Property search form what are those special characteristics you want of your home.

Make an offer an negotiate the Price.

In Colombia people usually overprice their properties. So, prepare to bargain. See What you should know about how estimate Home Value in Colombia.

Define your payment method

Once you agree with the price, It is important to plan in advance your payment method. You can find in this website the information needed to make you decide How to pay for your home.

Sign a purchase agreement

No matter you're buying or selling. Once you agree with the major terms of the negotiation, make sure it is expressed in a paper. See what a Sales Contract must contain to protect buyer's rights.

Make the closing and sign the deed

See all information I have related to the Closing and Don't forget to reserve extra money to pay Closing costs .

Prepare to receive your property

No matter you can or can't come to receive the keys of your property, check out this important Inspection Tips.

Register the property

You are finally the new owner!, so you must legalize it before a local goverment's office. See what you should know about Recording Title .

Register as a Foreign Investment (Optional)

If the amount of the investment is up to USD$100.000, you can exercise your rights as a foreign investor.

Enjoy your property!!

You are the happy owner of a property in Colombia. Cheers!!

You can find Financial overview, general stadistical and other useful information at the Colombia section of Global Property Guide 

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