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 who made the move to Colombia.
Other Questions:
- What do I need to know before retiring in Colombia?
- How do I meet people in Colombia?
- What is life like in Colombia?
- Is there a lot of crime in Colombia?
- Is there a lot of diversity? Are people in Colombia accepting of differences?
- What are the schools in Colombia like?
- Is the cost of living in Colombia high?
- What advice do you have for expats having a baby in Colombia?
- What are healthcare services like in Colombia?
- Is the cost of living in Colombia high?
- What type of recreational facilities are in Colombia?
- What is the weather like in Colombia?
- Are there good restaurants in Colombia?
- Where will I buy groceries and do other shopping in Colombia?
- What are the visa & residency requirements in Colombia?
- Are healthcare and health insurance expensive in Colombia?
- What do I need to know when buying property in Colombia?
- Are foreigners allowed to own property 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 one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad 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.
