Points To Keep In Mind When Investing in Colombia

Colombia is known for its dynamic destinations, delicious cuisines, and incredible history. Due to the number of factors, it not only encourages tourists from around the world but real estate investors as well. A thriving economy and growing tourism have contributed a lot to global investment opportunities in various major cities.

Investing in Colombia

If you are planning to invest in Medellin Colombia Real Estate, you should consider some points that need to be kept in mind while searching for a property. You should be aware of these considerations so that you can make the right decision.


  1. Travel to Colombia

Whether you want to buy a property in Colombia or are thinking of purchasing a property, you should visit different cities of the country and check each aspect of them. You can also choose to rent a property in a city you want to invest in. You should be familiar with the local vibe. If you don’t know much about different cities, take your time to do research about best places in Colombia and compare them. Once you are done with your research work, you have to choose a city where you are willing to invest. 


  1. Choose a Barrio

When you complete exploring the ins and outs of this city, you are mentally prepared to decide where you want to live or want to invest. The major cities are divided into neighborhoods, or you can also say divided into barrios, where each has its own unique attractions, such as nightlife, upscale restaurants, cafes, shopping, and many more. The four major cities in Colombia where most investors choose to invest are Medellin, Bogota, Cali, and Cartagena.


  1. Hire An Experienced Bilingual Professional

When you plan to buy a property in a particular city and neighborhood, you should hire a reliable and experienced professional who is well familiar with the local real estate market and its regulations. It would be good if you choose a bilingual expert. This will include a real estate agent and a real estate attorney.


The bilingual real estate agent in Colombia is an ideal decision for investors who don’t know Spanish. He/she will help you to find a property that will match your requirements. The bilingual real estate attorney will guide you to understand contracts and other documents written in Spanish. This will save you from the stress of signing any Spanish document.


  1. Make An Offer 

Once you hire a professional, you are now able to start the process of making an offer for the property you are interested in. Firstly, you and the seller will decide the terms of the agreement containing the price and other details. If you choose to work with a strong professional, you can negotiate the price, such as parking, furniture, closing costs, down payments, and other conditions.


  1. Title Due Diligence

Once you and the seller have agreed with the initial offer, you will work with a lawyer to make sure that the title of the property is completely clean and free from any legal trouble. The local lawyer will help you to gather and review documents for due diligence that will include some important and mandatory documents.


  1. Sign Promesa de Compraventa & transfer money

If you have decided to buy a property, the lawyer will create a sell-and-purchase agreement. This agreement will include the final sales price and other important terms and conditions. After signing this agreement, you will transfer a down payment. The Colombian government may take one month or longer to transfer the property ownership legally.


If you are thinking about becoming a part of Colombia and want to invest in medellin colombia real estate, make sure to take the help of a professional team.

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