Welcome to Alberto Álvarez Real Estate. I'm your virtual assistant and I'm here to help you.
Which service are you interested in?
October 28, 2025
Selling or buying a property is one of the most important real estate transactions in the market. For this reason, we want to explain what a purchase and sale agreement is and what it is used for. This document provides greater security during the process, whether you are a buyer or a seller.
Below, we explain the importance of this type of contract.
It is a document that is signed before the deed and sets out the commitments of both the buyer and the seller to secure the purchase of an apartment for sale in Medellín. This contract serves as a guarantee so that the seller does not continue promoting the property. Additionally, neither party may change the agreed price or the property delivery date. If this document does not exist, either party may withdraw from the transaction without incurring a penalty.
This agreement must be signed before a notary, who is the person authorized to formalize the deed once it has been signed by all parties.
It should be signed at the end of the real estate negotiation, once both the buyer and the seller have agreed on all the details of the sale of the apartment for sale in El Poblado or the commercial property for sale in Medellín.
Buyer and seller information: Full name, identification number, address of the property for sale, and marital status. It is important that both parties are of legal age.
Property details: The address, real estate registration number, cadastral certificate, and a general description of what has been agreed upon for the sale.
Purchase price: The agreed price and payment method must be clearly stated.
A purchase and sale agreement is legally valid in Colombia only if it complies with the requirements established by law. If the contract is properly drafted and correctly signed by all involved parties, legal action may be taken for breach of contract or to request its termination.
What are the consequences of breaching a purchase and sale agreement?
May 14, 2026
Speaking today about real estate investment in Colombia means speaking about Medellín. The city has evolved from being solely a benchmark of urban transformation to becoming
Read more
If either party withdraws from the transaction and a penalty or breach clause was established in the contract, the party who fails to comply may be required to pay a penalty.
This process is part of the essential information you must consider when selling or buying a property. Remember that having all the legal documentation in order is key to a successful transaction. If you need guidance, at Alberto Álvarez Real Estate we provide legal and tax advisory services throughout the entire negotiation process.
Get proper advice and make your dreams come true.
The world has changed, and with it, the way businesses operate. In the real estate sector, this transformation has become especially evident.
April 9, 2026
Owning a property in Bogotá is a great investment opportunity, but renting it out correctly is what truly determines whether you make a profit or not.
Read more
March 26, 2026
In recent years, Medellín, the Aburrá Valley, and eastern Antioquia have undergone an unprecedented urban transformation. The major road construction projects are not
Read more
