Checklist of a Typical Real Estate Purchase in Colombia

Checklist of a Typical Real Estate Purchase in Colombia

Checklist of a Typical Real Estate Purchase in Colombia

When considering property in Colombia, especially in charming Jardín or the heart of Antioquia, the process differs from other markets—there’s no MLS, and asking prices vary far more than comparables.

After 30 years in international real estate, here’s the refined roadmap we provide at Jardín Colombia Real Estate to investors, expats, and buyers eyeing homes for sale in Jardín, Coffee Farms for sale, or rural Colombian farms for sale. Checklist of a Typical Real Estate Purchase in Colombia

1. Define Your Budget & Financing

• Evaluate total spend: Include purchase price, closing costs (notary, registry ~ 1%), annual property taxes, utilities, insurance, and renovation budgets.

• Choose payment method: Cash is simplest. Mortgages are possible for foreigners but require a Colombian bank account, proof of income/assets, and local credit history.

2. Secure Your Funds Legally

• Use escrow services like Alianza or Acciones y Valores. These platforms document transactions for the DIAN (tax authority), preventing freezes or delays.

3. Research Market & Choose a Specialist Agent

• Select your location: Within Jardín, explore town homes, coffee estates, or farmland. Each niche has different dynamics in pricing and demand.

• Hire a licensed local real estate agent specializing in expat clients. Their commission is paid by the seller.

4. Confirm Foreign Buyer Requirements

• Necessary documents: Valid passport and Colombian Tax ID (NIT). The NIT is essential for legal contracts and title transfer.

5. Assess & Vet Properties

• On‑site inspection: Check building conditions, plumbing, electrical systems, and structural integrity.

• Title verification: Confirm the seller’s ownership via the Public Registry. Check for liens, outstanding taxes, or injunctions.

• Land survey: Ensure boundary accuracy, especially for rural farms or Coffee Farms for sale in Antioquia.

6. Submit Offer & Bind the Deal

• Make an offer: Your agent negotiates on your behalf.

• Pre-sale contract (Promesa de Compraventa): Outlines price, deposit (normally 10–30%), and schedule. Once signed and deposit made, both parties are committed.

7. Engage a Notary

• Notarial formalization: A notary drafts and witnesses the final contract—called the Escritura Pública—and authenticates it before submission. The remaining funds transfer happens here.

8. Notarize & Transfer Ownership

• Complete the Escritura Pública: This public deed officially transfers ownership.

• Settlement: Pay balance by bank transfer or certified check—ensuring all payments align with escrow as needed.

9. Register the Property

• Registry submission: The Escritura is filed at the local Office of Public Instruments. This step legally establishes you as the owner.

• Fees: Approximately 1% of the purchase value is due upon registry, plus future annual property taxes.

10. Set Up Services & Protections

• Utility transfers: Establish electricity, water, gas, internet, and telecom accounts in your name.

• Property insurance: Strongly recommended for safeguards against fire, theft, and natural events.

11. Receive Title Deed & Move In

• Secure title deed: Keep as proof of ownership.

• Annual taxes (predial): Usually 1–2% of property value.

• Occupy, rent, or renovate: Now that the legal work is done, you can enjoy your Colombian home for sale, start an Airbnb on a Coffee Farm for sale, or launch a rural retreat.

Pro Tips for International Buyers

• Language: Contracts are in Spanish—bilingual support is crucial.

• Legal counsel: Engage a local attorney for diligence checks and negotiation oversight.

• No title insurance: Due diligence is essential; Colombia doesn't offer this product.

• Utility & estrato planning: Estrato (socioeconomic tier) affects utility pricing and infrastructure quality.

Why You Need Local Expertise

There’s no substitute for local knowledge and established networks. At Jardín Colombia Real Estate, we offer:

• Access to the hottest properties in Antioquia, from townhomes to rural estates

• Outsourced marketing services, ensuring your property appeals to both international and local audiences

• Specialized teams backed by 30-year real estate insight—ready to support smooth transactions and post-purchase growth

Whether you're searching for homes for sale in Jardín, investing in Colombian farms for sale, or exploring agribusiness options in Coffee Farms for sale, our structured approach will help you move confidently and efficiently.

📞 Ready to start your journey? Visit Jardín Colombia Real Estate today and let us guide you toward exceptional properties that match your goals—live well, invest wisely, and join the vibrant life of Antioquia.