What do I need to know when buying property in Colombia?
When we asked expats what advice they would give a foreigner before buying a property in Colombia, they said...
"1. It is important to check a property’s official title to ensure that it is legally owned. 2. It is recommended to get an independent lawyer to review any contracts and agreements related to the purchase of property. 3. Local laws require a notary public to draw up any contract related to the purchase of real estate. 4. Buyers are required to pay taxes on the purchase of property in Colombia. 5. Depending on the location of the property, there may be additional taxes on purchases. 6. Be prepared to provide documentation of your identity and source of funds when purchasing property. 7. Property transfer registrations and payments can take anywhere from a few weeks to several months to complete," remarked another expat in Colombia.
Other Questions:
- What do I need to know before moving to Colombia?
- How do I find a place to live in Colombia?
- What is a typical expat home or apartment like in Colombia?
- What is the average cost of housing in Colombia?
- Should I buy or rent a home in Colombia?
- What should I pack when moving to Colombia?
- What cultural faux pas should I try to avoid making in Colombia?
- Why do people move to Colombia?
- What are healthcare services like in Colombia?
- What are medical services in Colombia like?
- What are typical rents in Colombia?
- What appliances are typically included in a rental?
What do I need to know when buying property in Colombia?
If you live in Colombia, newcomers to Colombia would love to hear your answer to this question:
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.