How to buy property in Colombia as a foreigner?

This important decision will allow you to make a safe investment, since in Colombia, apartments for sale in Medellín and the various properties on the market tend to appreciate constantly. Also, the exchange rate of the Colombian peso to dollars or euros makes this an affordable investment and helps increase your wealth, thus guaranteeing greater economic stability.

If I am a foreigner, how can I buy a property in Colombia? – The first thing you should do is seek the advice of a trusted real estate agency. We have 65 years of experience in the market and a legal team that will support you throughout the entire purchase process.

– We will accompany you in your search for an apartment for sale in El Poblado or any other area you desire and send you different property options. If you are not in the country, we can also provide you with a virtual tour.

– Once you have found your property, we review all the necessary documents and verify that there are no problems with the property, such as mortgages, outstanding debts, liens, etc.

– Next, you must legally transfer the money from your country to Colombia. If you need Colombian residency, you can obtain it by making an investment of at least 650,000,000 COP in real estate. You can also apply for a foreigner ID card, which will allow you to open a bank account in Colombia and make the money transfer process easier. We recommend that you consult with a lawyer who can help you legally monetize your money in Colombia.

– After the legal review of the property and agreeing on a negotiation with the seller, the process of the promise of sale can begin. This is a contract that specifies the negotiation of the purchase of the property, including dates, payment amounts, and delivery of the house for sale in Medellín. This document must be signed and legally authenticated by both parties. You have the option of signing virtually or in person at a notary's office.

– Once the agreed amount has been paid on the agreed payment dates and the total value of the property has been paid, the public deeds will be signed. This document confirms that the property is now entirely yours. You should also take into account the notary fees that will have to be paid for this process. To sign the deeds, you must be in the city, or you can give power of attorney to another trusted person to sign on your behalf. Keep in mind the notary fees that will have to be paid for this process.

– After the deed has been registered, the property is legally yours and you can enjoy and make use of it.

At Inmobiliaria Alberto Álvarez, we accompany you in your search and throughout the purchase process. We have bilingual advisors who are at your disposal to help you invest in real estate. Remember to carry out this process with a real estate agency that is transparent and knowledgeable about market dynamics. You can count on us to help you achieve this important goal.